Richemont : Jewellery Maisons deliver but the overall performance reflects a clear slowdown excluding the effect of China
>Group Q1 sales slightly below expectations despite Jewellery Maisons posting growth of +24% y-o-y at CER with mixed overall trends by region - For the first quarter of its financial year to end-March 2024, the group reported sales of € 5,322m, up +14% y-o-y and +19% y-o-y at CER. We looked for € 5,580m (+23% y-o-y at CER) and the Visible Alpha consensus was more cautious at € 5,431m (or around +20%). Q1 sales were in the end fairly close to the consensus at CER (slig...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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