Hermes International : An impressive Q4: reflecting the strength of the group's creations
>Organic growth of close to +16% in Q4 and an H2 EBIT margin of 37%: impressive - Hermès’ annual results are nothing if not impressive and evoke fairly accurately those of LVMH Fashion and Leather division: organic revenue growth of >15% in Q4 (15.6% for Hermès, +18% at LVMH F&L vs our forecast of +9%) and the same causes produce the same effects (revenues back to robust growth, a cost structure that still reflects the cost-cutting efforts put in place during the cri...Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.
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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