Report
Jean Danjou

Hermès International : Impressionnant T4 : il reflète la force des créations du groupe

>Croissance organique à près de +16% sur le T4 et marge EBIT S2 à 37% : impressionnant - Les résultats annuels d’Hermès ne sont rien moins qu’impressionnants et évoquent assez fidèlement ceux de LVMH Mode et Maroquinerie : croissance organique >15% des revenus sur le T4 (15.6% pour Hermès, c’était +18% chez LVMH M&M, nous attendions +9%) et les mêmes causes produisant les mêmes effets (revenus repartis en forte croissance, structure de coûts reflétant encore les effo...
Underlying
Hermes International SCA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jean Danjou

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