Richemont : Cartier/Van Cleef perform remarkably well coming out of the crisis, but the jury is still out on the rest
>Half-yearly results much better than expected as sales and margins at Cartier/Van Cleef picked up very briskly - Richemont provided a pleasant surprise on H1 2020-21 (to end-March). The group generated substantially positive EBIT of € 452m, on total sales of € 5.478bn while we and the consensus forecast EBIT of under € 100m, just above breakeven, for sales of close to € 5.3bn. Jewellery Maisons fared much better than expected and this division alone accounted for the...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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