44 slides from Compagnie Financiere Richemont Sa's earnings presentation, May 22, 2026
Slide 1: FY26 Annual Results
FY26 ANNUAL RESULTS YEAR ENDED 31 MARCH 2026 22 MAY 2026
Slide 2: Forward-looking statements
Certain of the matters discussed in this document about our and our subsidiaries’ future performance, including, without limitation, store openings and closings, product introductions, sales, sales growth, sales trends, store traffic, Richemont's strategy and initiatives and the pace of execution th
Slide 3: Contents
Contents › Highlights › Sales › Business areas › Financials › Conclusion › Q&A › Appendix
Slide 4: Highlights
Highlights AT RICHEMONT We Craft the Eutave.
Slide 5: FY26 Key Figures: Solid Results in Volatile Environment
FY26 KEY FIGURES|SOLID RESULTS IN VOLATILE ENVIRONMENT Operating Profit Sales €22.4bn €4.5bn Incl. €164m non-recurring costs +5% at actual FX +1% at actual FX +11% at constant FX +23% at constant FX Profit Cash flow for the year from Operating Activities €3.5bn €4.9bn vs €2.8bn prior year Net cash p
Slide 6: Highlights: Further Delivering on Long-Term View
FY26 HIGHLIGHTS|FURTHER DELIVERING ON LONG-TERM VIEW › Sales up by 11% at constant rates, with growth across all business areas, regions and channels ▪ Remarkable performance at Jewellery Maisons, up by 14%, led by strength across all Maisons Sustained ▪ Modest growth at both Specialist Watchmakers
Slide 7: Highlights: Investing Consistently for Future Growth
FY26 HIGHLIGHTS|INVESTING CONSISTENTLY FOR FUTURE GROWTH Elevating Cultivating Perpetuating store network quality craftsmanship and art heritage and singularity › Continued targeted expansion, › Investments in jewellery atelier › Patrimonial exhibitions across including in key new cities projects in
Slide 8: FY26 Constant Creativity
FY26|CONSTANT CREATIVITY Driving desirability Nurturing brand equity
Slide 9: Sales
Sales AT RICHEMONT We Craft the Futawe
Slide 10: Sales: Strength of Local Demand Driving Growth Across All Regions
FY26 SALES|STRENGTH OF LOCAL DEMAND DRIVING GROWTH ACROSS ALL REGIONS (CONSTANT RATES) Americas Asia Pacific +17% vs FY25 25% 32% +8% vs FY25 ▪ Double-digit increase at ▪ Growth led by Jewellery Maisons Jewellery Maisons and SWM ▪ Notable growth in South Korea, ▪ Strong growth across all channels Si
Slide 11: Sales: Broad-Based Contribution from All Regions
FY26 SALES|BROAD-BASED CONTRIBUTION FROM ALL REGIONS (€M) +€1bn +5% at actual rates +114 22 420 +444 +43 +54 +366 21 399 FY25 Europe Asia Pacific Americas Japan Middle East FY26 & Africa
Slide 12: Sales: Sustained Growth Across All Channels
FY26 SALES|SUSTAINED GROWTH ACROSS ALL CHANNELS (CONSTANT RATES) Direct-to-Client (DTC) Retail 77% of sales +12% vs FY25 • c. 85% at Jewellery Maisons ▪ Performance driven by Jewellery • c. 60% at Specialist Watchmakers Maisons and, to a lesser extent, 71% 77% • > 55% at Other F&A; slightly positive
Slide 13: Business areas
Business areas “-RICHEMONT We Crafe the Fate
Slide 14: Jewellery Maisons: Continued Strong Sales Momentum
FY26 JEWELLERY MAISONS|CONTINUED STRONG SALES MOMENTUM › Sales of €16.5bn, up by 8% +14% at constant exchange rates ▪ Double-digit growth across all regions at constant rates ▪ Strong performance across Maisons in both jewellery 21% and watches +10% Europe ▪ Sustained pace in Q4, with sales up by 16
Slide 15: Jewellery Maisons: Further Building Brand Desirability
FY26 JEWELLERY MAISONS|FURTHER BUILDING BRAND DESIRABILITY › Sparkling novelties boosting iconic jewellery and watch lines ▪ Strength across collections, among which Love, Panthère (Cartier); Alhambra, Perlée (Van Cleef & Arpels); Opera Tulle, Macri (Buccellati) ▪ Impactful new additions fuelling at
Slide 16: Specialist Watchmakers: Modest Sales Growth
FY26 SPECIALIST WATCHMAKERS|MODEST SALES GROWTH (CONSTANT RATES) › Sales of €3.1bn, down by 4% +1% at constant exchange rates ▪ Strong growth in the Americas compensating for declines in Asia Pacific and Japan, at constant rates 24% ▪ Slight increase in both retail and wholesale channels +3% Europe
Slide 17: SWM: Building on Distinct Heritage and Craftsmanship
FY26 SWM|BUILDING ON DISTINCT HERITAGE AND CRAFTSMANSHIP › Mixed performances across the year, notable improvement in H2 at A. Lange & Söhne, Jaeger-LeCoultre and Vacheron Constantin › Balanced Sell-in/Sell-out ratio at circa 100% over 12 months › Novelties supporting solid growth of iconic collecti
Slide 18: Other: Resilient Sales Led by Improved H2 Momentum
FY26 ‘OTHER’|RESILIENT SALES LED BY IMPROVED H2 MOMENTUM › Sales of €2.7bn, down by 2% +3% at constant exchange rates ▪ Increase in sales in the Americas, Europe and Middle East & Africa, at constant rates 36% ▪ Solid growth in retail, slight rise in wholesale +2% ▪ Moderate increase at F&A Maisons,
Slide 19: Other: Displaying Creativity, Strengthening Appeal in F&A
FY26 ‘OTHER’|DISPLAYING CREATIVITY, STRENGTHENING APPEAL IN F&A › Continued sales momentum at Peter Millar and Alaïa ▪ Peter Millar | Further expansion into broader lifestyle proposition ▪ Alaïa | Increased global recognition notably through high impact shows and success of iconic products › Overall
Slide 20: Financials
Financials AT RICHEMONT We Croft the Fadave
Slide 21: Gross Profit
FY26 GROSS PROFIT › Gross profit up by 1% to €14.4bn › Gross margin of 64.4%, down by 250bps (-40bps at constant exchange rates) ▪ Higher production costs of which: › Two-thirds from net impact of raw material costs increase, mostly gold › One-third from additional US duties ▪ Positive impact from m
Slide 22: Operating Expenses
FY26 OPERATING EXPENSES › Operating expenses broadly stable in value, up by 1% +1% ▪ Modest rise in Selling & Distribution expenses, up by 2%, or +7% at constant FX, +100 +91 9 946 mainly from continued selective network expansion and salary increases 9 852 ▪ Disciplined Communication costs, down by
Slide 23: Operating Profit
FY26 OPERATING PROFIT › Operating profit of €4.5bn, +1% at actual rates, margin at 20.0% of sales ▪ Up by 23% excluding unfavourable exchange rate impact ▪ Contribution from strong sales growth and cost discipline mitigating the impact of external headwinds ▪ €164m of non-recurring costs, in additio
Slide 24: Net Finance Costs
FY26 NET FINANCE COSTS › €91m increase in net finance costs to €144m ▪ €314m increase in net foreign exchange losses on monetary items ▪ €170m decrease in fair value adjustments ▪ Mostly offset by a €445m increase in net gains on FX hedging programme ▪ Lower interest income due to declining yields a
Slide 25: Profit for the Year
FY26 PROFIT FOR THE YEAR › Profit from continuing operations of €3.5bn, down by 8%, reflecting higher taxation and finance costs, as well as lower share of equity-accounted investments’ results › Increase in profit for the year by 27% to €3.5bn, benefitting from the non-recurrence of the write-down
Slide 26: Cash Flow from Operating Activities
FY26 CASH FLOW FROM OPERATING ACTIVITIES › Cash flow from operating activities of €4.9bn, up by €0.4bn ▪ Higher operating profit adjusted for non-cash items, including impairments and write-downs ▪ Lower working capital needs, mostly reflecting higher cash inflows from foreign exchange derivatives;
Slide 27: Capital Expenditure
FY26 CAPITAL EXPENDITURE › Capex of €1.0bn ▪ Higher share dedicated to enhancing distribution network and reinforcing manufacturing capacities ▪ 4.6% of sales 53% 27% 20% Buccellati – Hong Kong, Prince’s Building Distribution Manufacturing Other Double-digit increase Continued expansion Disciplined
Slide 28: Free Cash Flow
FY26 FREE CASH FLOW › Free cash flow of €2.8bn, up by €0.6bn, primarily driven by higher cash flow from operating activities 12 months €m FY26 FY25 Change Cash flow from operating activities 4 880 4 443 +437 Net acquisition of property, plant and equipment -957 -1 035 +78 Net acquisition of intangib
Slide 29: Balance Sheet
FY26 BALANCE SHEET €42.6bn €42.6bn Fixed assets 25% Other non-current 7% 57% Total equity assets Inventories 23% Other current assets 5% Investments in money 21% Non-current liabilities market and externally 20% managed funds 22% Current liabilities Cash 20%
Slide 30: Use of Cash
FY26 USE OF CASH Cash generated from operating activities €4.9bn Cash Other Capex Lease payment transferred to YNAP (o/w FX) FY25 dividend €1.0bn €0.8bn €0.6bn €0.4bn €1.9bn Net cash increase €0.2bn
Slide 31: Dividend
FY26 DIVIDEND › Board of Directors proposal: ▪ Ordinary dividend of CHF 3.30 per 1 A share / 10 B shares, up by 10% over prior year ▪ Special dividend of CHF 1.00 per 1 A share / 10 B shares 4.50 4.30*** Dividend per 1 A / 10 B shares (in CHF) 4.00 1.00*** 3.50** 3.50 3.25** 3.00 3.00 2.75 2.50 2.00
Slide 32: Conclusion
Conclusion AT RICHEMONT We Craft the Fate
Slide 33: Conclusion: A Solid Year Reinforcing Differentiation
FY26 CONCLUSION| A SOLID YEAR REINFORCING DIFFERENTIATION › Remarkable sales growth and solid results, highlighting differentiated market positioning, balanced regional footprint and team agility › Outstanding performance of Jewellery Maisons reflecting high desirability and strong value proposition
Slide 34: Conclusion: Strong Fundamentals to Continue to Create Long-Term Value
CONCLUSION| STRONG FUNDAMENTALS TO CONTINUE TO CREATE LONG-TERM VALUE › Distinctive heritage and brand identity of each of our Maisons to support future growth prospects › Continued creativity with novelties nourishing iconic product lines › Balanced regional and clientele mix building on deep local
Slide 35: Q&A
AT Ric CP = - Q&A We Craft the Futave .
Slide 36: Appendix
Appendix AT RICHEMONT We Craft the Futave
Slide 37: Financial Highlights
FY26 FINANCIAL HIGHLIGHTS › Sales (€m) › Gross Profit (€m) › Operating Profit (€m) ∆ c.r. ∆ a.r. Margin ∆ a.r. Margin ∆ a.r. FY26 22 420 +11% +5% FY26 14 438 64.4% +1% FY26 4 492 20.0% +1% FY25 21 399 +4% +4% FY25 14 319 66.9% +2% FY25 4 467 20.9% -7% FY24 20 616 +8% +3% FY24 14 036 68.1% +2% FY24 4
Slide 38: Sales by Product Line
FY26 SALES BY PRODUCT LINE Actual Constant 12 months €m FY26 FY25 rates rates Jewellery 12 206 11 476 +6% +13% Watches 7 157 6 815 +5% +11% Leather goods and accessories 1 002 1 088 -8% -4% Clothing 926 870 +6% +13% Writing instruments 415 427 -3% +2% Other 714 723 -1% +2% Total sales 22 420 21 399
Slide 39: Operating Result by Business Area
FY26 OPERATING RESULT BY BUSINESS AREA 12 months €m FY26 FY25 Change Jewellery Maisons 5 037 4 896 +3% Specialist Watchmakers 107 175 -39% Other -96 -102 +6% Operating result 5 048 4 969 +2% Valuation adjustments on acquisitions -39 -49 -20% Corporate costs -517 -453 +14% Central support services -3
Slide 40: Summary Balance Sheet and Inventory
SUMMARY BALANCE SHEET AND INVENTORY at 31 March €m FY26 FY25 Non-current assets 13 689 12 674 Current assets 28 934 28 332 Non-current liabilities 9 140 9 065 Current liabilities 9 341 9 775 Equity at tributable to owners of the parent company 24 076 22 099 Non-controlling interests 66 67 Equity 24
Slide 41: Retail Network
FY26 RETAIL NETWORK March March Net change 2026 2025 Total Jewellery Maisons 524 509 +15 Cartier 273 275 -2 V an Cleef & Arpels 175 168 +7 Buccellati 57 49 +8 Total boutiques V hernier 19 17 +2 Specialist Watchmakers 908 932 -24 2 376 (-60) IWC Jaeger-LeCoultre 238 171 232 177 +6 -6 Panerai 167 184
Slide 42: Hedging
HEDGING › Group is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to CHF and EUR, against AED, HKD, JPY, SGD, USD and CNY › 70% of the forecasted net cash flow exposure is hedged on a 12-month rolling basis, raised to 100% in a 2-month window › Reali
Slide 43: Definitions
DEFINITIONS › yoy means year on year change vs year ended 31 March 2025 › Movements at constant exchange rates are calculated by translating underlying sales and operating profit in local currencies into euros in both the current period and the comparative periods at the average exchange rates appli
Slide 44: Richemont Maisons
Buccellati • Cartier • Van Cleef & Arpels • Vhernier A. Lange & Söhne • Baume & Mercier • IWC • Jaeger-LeCoultre • Panerai • Piaget • Roger Dubuis • Vacheron Constantin Alaïa • Chloé • Delvaux • dunhill • G/FORE • Gianvito Rossi • Montblanc • Peter Millar • Purdey • Serapian • TimeVallée • Watchfind