Hermès, sales at + 40% on the pre-Covid period thanks to the markets of Europe, America and Asia
Hermès maintained “exceptional” growth in the third quarter, reaching 2.367 billion euros in sales, marking an increase of 40% compared to 2019, ie before the pandemic, thanks to strong growth in “all geographic areas”.
In the period from July to September, the group explains in a note, the activity benefited from the “recovery in sales in Europe”, from an “acceleration in America” while Asia maintained “good momentum”. The turnover exceeds the consensus established by the analysts interviewed by Bloomberg And Factset, which provided for 2.199 billion euros and 2.209 billion euros respectively.
In particular, Hermes overcame the slowdown in China and closed the third quarter with net growth in sales both compared to 2020 (+ 31.2%) and 2019 (+ 41%), beating analysts’ forecasts, even if the rebound slowed compared to the previous three months. In particular, in the three months to September, sales, at constant exchange rates, stood at 2.367 billion euros, thanks to “the good performance in Europe, the acceleration in America and the sustained dynamics in Asia”.
The performance of the third quarter, emphasized the executive chairman Axel Dumas, “reflects an atypical year, during which we continue with strategic investments and accelerate the creation of jobs. In a world that remains unstable we can move forward with optimism and caution, continuing to create beautiful objects, of high quality and sustainable“. At September 30, sales, at constant exchange rates, amounted to € 6.602 billion, up by 57.2% compared to the same period in 2020 and by 35.3% on 2019.
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