Hermes International : Imperial march
>Q2 growth of 28%, H1 margin of 44%: who can top that? - The group has published H1 sales of € 6,698m, i.e. +22% y-o-y and +25% y-o-y cc, indicating a Q2 at € 3,317m +27.5% y-o-y cc after +23% in Q1 and interim EBIT of € 2,947m, i.e. a margin of +44.0% after 42.1% in H1 last year and 39% in H2. Our estimate was € 6,639m for H1 sales (Q2 growth anticipated at c.24%) and € 2,775m for EBIT (margin 41.8%) and the Visible Alpha consensus was at, respectively, € 6,647m and ...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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