Richemont : Growth still favourable despite China, still no news regarding YNAP
>Q1 sales +2% ahead of expectations, Jewellery maisons at 12% y-o-y cc - Q1 sales for the year to end-March 2023 (calendar Q2 2022) came in at € 5.264bn, or growth y-o-y cc of 12% and 20% reported (forex effect +8%). We forecast sales of € 5.144bn, +10% y-o-y cc while the recent Visible Alpha consensus was close to € 5bn, with growth in the previous quarter (Q4 of year to end-March 2022) at 27%. Note that the last published revisions have seen sales visibly above € 5b...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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