Richemont reports lower first-half results
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Richemont reports lower first-half results
Geneva-based luxury goods group Richemont reported a downturn in performance for the first half of its 2024/25 financial year closing at the end of September. Both sales and profit declined.
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During the period under review, sales contracted by 1% to €10.08 billion (CHF9.4 billion), according to a press release on Friday. Recurring operating income plunged by 17% to €2.21 billion, while the operating margin collapsed by 410 basis points to 21.9%.
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Net income fell from €1.51 billion to €457 million.
This was well below the expectations of analysts polled by AWP, who were expecting €1.88 billion. Sales were expected to come in at €10.18 billion, with operating income at €2.33 billion and an associated margin of 22.9%.
Translated from French by DeepL/ts
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