Hermes International : Operating margin excluding exceptionals at 34.5% (+120bp) vs Oddo BHF at 34.4%e
>Operating margin excluding exceptionals at 34.5% (+120bp) vs Oddo BHF at 34.4%e - Hermès has published H1 2018 operating profit of € 985m, excluding exceptionals (€ 1,037, including € 53m in gains linked to the divestment of property assets), 2% above our forecasts and in line with the consensus.The operating margin came in at 34.5%, representing a 120bp increase (vs our forecast for 34.4%, excluding exceptionals). At the publication of Q2 sales the group announ...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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