Richemont reports 16% sales growth as jewellery and watches drive first-half results
Richemont posted €12.3 billion of first-half sales, with jewellery and specialist watches delivering broad-based growth and operating profit rising 33%.
Compagnie Financière Richemont (SIX: CFR) reported a strong first half of fiscal 2027 on 13 November, with sales growth accelerating across its jewellery Maisons and specialist watchmakers despite elevated raw-material costs.
Sales rose to €12.282 billion from €10.619 billion a year earlier, or 17% at constant exchange rates. Operating profit reached €3.129 billion, including €229 million of positive tariff-related one-time items; excluding those items, operating profit was about €2.9 billion and the operating margin was 23.6%, compared with 25.5% reported.
Jewellery Maisons—including Cartier, Van Cleef & Arpels, Buccellati and Vhernier—grew sales 18% in actual terms and 19% at constant exchange rates. Specialist Watchmakers increased sales 9% actual and 10% at constant rates. Richemont said the group maintained double-digit growth in most regions, led by Japan, the Americas and Asia Pacific.
Cash flow from operating activities was €2.5 billion, up from €1.854 billion in the prior-year period. Net cash was €7.729 billion at 30 September, after a €0.4 billion inflow from the disposal of the group's stake in Avolta and a higher dividend payment. The release did not provide a new full-year financial outlook.
Sales
€12.3B
↑ +16% actual six months to 30 Sep.
Operating profit
€3.1B
↑ +33% reported
Profit
€2.5B
↑ +39% period profit
Net cash
€7.7B
↑ vs. €6.5B at 30 Sep.
Sources
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