Switzerland · Delayed Price · Currency is CHF Compagnie Financière Richemont Earnings Call Transcripts
Fiscal Year 2026
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Solid first-half results with 10% sales growth at constant rates, led by Jewellery Maisons and strong regional demand. Operating profit rose 7% despite FX and gold headwinds, with robust cash flow and a strong net cash position. Management anticipates higher tariff impacts in H2.
Fiscal Year 2025
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Record sales and robust cash flow were driven by strong jewelry performance and regional diversification, offsetting watchmaker weakness in Asia-Pacific. Higher gold costs and FX impacted margins, but disciplined cost control and strategic investments supported resilience.
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Sales were stable at constant FX, with strong growth in the Americas, Japan, and Middle East offsetting a sharp decline in Asia Pacific due to China. Jewellery Maisons outperformed, while Specialist Watchmakers lagged. Profitability was impacted by FX, higher costs, and one-off items.