Bryan Garnier - Richemont (CFR) Richemont to face margin pressure as watch sales decline in H1 2025

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Bryan Garnier

Loic Morvan ...

Paul Rouviere

Richemont to face margin pressure as watch sales decline in H1 2025

Ahead of H1 results (end-September) due out on 8th November, we lower our Richemont FY25 earnings by 6% to reflect i/ further deterioration in Chinese consumer confidence, and ii/ lower demand for Luxury Watches from Asia which is iii/ pressuring margins in the Specialist Watchmakers division. We s

26/09/2024 1 EN

Underlying

Richemont

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Loic Morvan

Paul Rouviere

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Richemont to face margin pressure as watch sales decline in H1 2025

Disappointing H1 profitability

Luxury Goods: beware of excessive optimism on China in the near term

Cinclus: agreement with the FDA on the iPSP

BICO: divests Nanoscribe for EUR26m in line with BICO 2.0 Strategy

Exclusive Networks: expanding into the US with Cloudrise acquisition

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