Compagnie Financiere Richemont SA · SIX:CFR

Compagnie Financiere Richemont SA — H1 FY2011 Earnings Presentation

19 slides from Compagnie Financiere Richemont SA's earnings presentation, November 2010

  1. Slide 1: Appendix

    Appendix

  2. Slide 2: Financial Highlights

    Financial Highlights Sales, € m Gross Margin, € m Operating profit, € m 3 415 2 113 760 5 418 1 118 23.3% 5 290 5 176 64.8% 64.6% 3 417 21.1% 968 63.1% 3 191 1 464 830 390 17.9% 3 259 16.4% 61.6% 61.5% 16.0% 2 379 FY08 FY09 FY10 Sept09 Sept10 FY08 FY09 FY10 Sept09 Sept10 FY08 FY09 FY10 Sept09 Sept10

  3. Slide 3: Hedging Policy

    Hedging Policy „ Consistent application of hedging policy since April 2004 „ 70% of our forecasted net foreign currency cash flow exposure arising in USD block, HKD, JPY is hedged versus the CHF and Euro „ In the case of the USD, the net exposure takes into account purchases of precious metals and d

  4. Slide 4: Foreign Currency Hedging Contracts Average Rates against the CHF

    Foreign Currency Hedging Contracts 6 months 12 months average average Hedge rate to Actual rate to Hedge rate to Versus the CHF Sept 10 Sept 10 March 11 YEN 88 83 87 US $ 1.04 1.07 1.05 HK $ 7.46 7.28 7.50 Average Rates against the CHF 6 months to 30 Sept 10 6 months to 30 Sept 09 YEN 83 88 US $ 1.0

  5. Slide 5: H1-11 Sales by Region

    H1-11 Sales by Region Japan Russia Middle East 11% 1% 5% Americas 15% Western Europe ² 31% Asia-Pacific Other Europe 36% 1% 6 months €m Sept 10 Sept 09 Constant rates Actual rates Europe 1 260 995 + 23% + 27% Asia-Pacific 1 157 771 + 36% + 50% Americas 489 325 + 37% + 51% Japan 353 288 + 4% + 23% To

  6. Slide 6: H1-11 Sales by Product line

    H1-11 Sales by Product line Jewellery Leather Goods 23% 8% Writing Instruments 5% Watches 51% Clothing & Other 13% 6 months €m Sept 10 Sept 09 Constant rates Actual rates Watches 1 649 1 190 + 28% + 39% Jewellery 745 581 + 17% + 28% Leather Goods 271 211 + 20% + 28% Writing Instruments 166 125 + 23%

  7. Slide 7: H1-11 Sales by Business Area

    H1-11 Sales by Business Area Specialist Watchmakers Writing 28% Instrument Maison 9% Jewellery Other Maisons 13% 50% 6 months €m Sept 10 Sept 09 Constant rates Actual rates Jewellery Maisons 1 619 1 222 + 22% + 32% Specialists watchmakers 901 655 + 28% + 38% Writing instrument Maison 303 238 + 19% +

  8. Slide 8: H1-11 Reported Operating Result by Business Area

    H1-11 Reported Operating Result by Business Area 6 months €m Sept 10 Sept 09 % Chge Operating contribution Jewellery maisons 541 349 + 55% 65% Specialists watchmakers 259 133 + 95% 31% Writing instrument maison 48 29 + 66% 6% Other - 19 - 28 + 32% - 2% Subtotal 829 483 + 72% 100% Corporate costs - 6

  9. Slide 9: H1-11 Profit

    H1-11 Profit 6 months €m Sept 10 Sept 09 Sales 3 259 2 379 + 37% Cost of sales -1 146 - 915 Gross margin 2 113 1 464 + 44% Net operating expenses -1 353 -1 074 Operating profit 760 390 + 95% Net financial (costs) / income - 120 24 Share of post-tax results of associates 102 2 Profit before taxation

  10. Slide 10: Summary Balance Sheet

    Summary Balance Sheet €m Sept 10 Sept 09 Fixed assets 1 950 1 458 Other long term assets 614 598 Net current assets 2 210 2 270 Long term liabilities excluding borrowings - 315 - 173 Net operating assets 4 459 4 153 Investment in associates 8 19 Net cash 1 882 902 Net assets 6 349 5 074 Equity Share

  11. Slide 11: Inventory

    Inventory €m Sept 10 Sept 09 €m Finished goods 1 617 1 594 23 + 1% Raw materials and work in progress 919 772 147 + 19% Total 2 536 2 366 170 + 7% Rotation Sept 10 Sept 09 Number of months of COGS 17.7 20.3

  12. Slide 12: H1-11 Retail Network

    H1-11 Retail Network Sept 2010 External Internal vs PY Internal vs PY External March 2010 Montblanc 360 140 220 -1 +7 354 Cartier 293 114 179 +8 +2 283 Alfred Dunhill 212 77 135 +4 +2 206 Lancel 146 71 75 +2 +0 144 Chloé 108 38 70 +2 -5 111 Van Cleef & Arpels 85 32 53 +4 +2 79 Piaget 69 25 44 +3 -2

  13. Slide 13: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches High Jewellery Fine Watchmaking Collection Les Voyages Extraordinaires High Jewellery watches collection Calibre de Cartier Bijoux Perlée Jewellery Magic Alhambra set in white gold with diamond Trinity (Coeur, Panthère, Draperie) Oiseaux de Para

  14. Slide 14: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches Watches Piaget Polo FortyFive lady Métiers d‘Art “La Symbolique des laques”, year 1 Altiplano 43mm Magic Hour paved Openings Dalian - China Jewellery Marina Bay Sands - Singapore Possession Celebration Taiyuan - China Manchette & necklace Posses

  15. Slide 15: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches Watches Saxonia Annual Calendar EasyDiver automatic Grand Lange 1, ref. 115.028 Excalibur Double Tourbillon platinum Collection “Homage to F.A. Lange“ Lange 1 Daymatic Jewellery Lange Zeitwerk Luminous BeHeart, Tahiti pearls Jewellery Watches Li

  16. Slide 16: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches Watches Duomètre à Quantième lunaire Portuguese Yacht Club Chronograph AMVOX2 Grand Chronograph Portuguese Hand-Wound Atmos 566 by Marc Newson – blue version Portuguese Tourbillon Mystère Rétrograde Master Compressor Diving Automatic Navy Seals

  17. Slide 17: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches Watches Radiomir Regatta 1/8 Second Titanio Classima Luminor Marina 1950 3 Days Automatic - Extra-thin Quartz Radiomir Composite 8 Giorni - GMT Chrono - Magnum Openings Riviera magnum Chrono Hong Kong Kowloon – China Shanghai IFC – China Paris –

  18. Slide 18: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Watches Men Leather Goods Villeret Vintage ADV8 Brown LLG Rieussec Silicon Escapement Bladon LLG (Tan & Black) Writing Instruments Explorer Black LLG & SLG StarWalker Ruthenium Meisterstück Montblanc Diamond John Lennon Edition Openings Le Bon Marché Pa

  19. Slide 19: H1-11 – Main Product Launches & Store Openings

    H1-11 – Main Product Launches & Store Openings Ladies Handbags Leather Goods B.B. (Brigitte Bardot) Darla bag Plume Aurore bag Miss Adjani Margareth bag Miss Elsa Chloé & See by Chloé shoes, Fall/Winter 2010-11 Men Lines Au sphinx Openings A l‘incomparable None Openings St Tropez - France One Centra

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