Hermès International : Toujours en croissance robuste malgré la Chine
>Asie à +1% au T3 mais croissance d’ensemble au-delà de 11% - Sur la base d’un CA T3 publié à 3 704 M€ (nous attendions 3 647 M€ et le consensus Visible Alpha était à 3 692 M€), la croissance y/y tcc du groupe ralentit à 11.3% sur le trimestre après un T2 à 13.3% mais reste confortable au vu d’un secteur à l’activité probablement en recul de 2%/3% sur la période. La maroquinerie progresse de 14% (nous attendions +11.8%), ce qui donne, pour le reste du portefeuille, un...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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