Hermes International Sca · EURONEXT:RMS
Hermes International Sca — Hermès International Société — H1 2026 Earnings Presentation
35 slides from Hermes International Sca's earnings presentation, Jul 29, 2026
Slide 1: Résultats Semestriels 2022
Résultats Semestriels 2022 1
Slide 2: Solid Momentum in the First Half
SOLID MOMENTUM IN THE FIRST HALF REVENUE €8.2 BILLION GROWTH AT CONSTANT RATES +6% OPERATING MARGIN 41.0% At the end of June 2026 2026 Half-Year Results 2
Slide 3: Highlights
Slide 4: Bold Creation
BOLD CREATION • Enrichment of the leather goods collection with the models Cliquetis, Kelly Hobo and Double Longe • Strong momentum in women’s and men’s ready-to-wear collections • Launch in early July of the ninth High Jewellery collection, Into the Horsescape, featuring powerful and singular piece
Slide 5: Development of Production Capacities
DEVELOPMENT OF PRODUCTION CAPACITIES • Opening of the 25th leather goods workshop: › Loupes (Gironde) in April • Three new leather goods workshops: › Charleville-Mézières (Ardennes), scheduled in 2027 › Colombelles (Calvados), scheduled in 2028 › Les Andelys (Eure), scheduled by 2030 • Strengthening
Slide 6: An Exclusive and Integrated Distribution Network
AN EXCLUSIVE AND INTEGRATED DISTRIBUTION NETWORK • Strengthening of the omnichannel and multi-local distribution network • Opening of a new Hermès Maison in London • Opening of new stores: › Sanlitun, Beijing (Greater China) › Sakae, Nagoya (Japan) • Expansion and renovation of stores, notably: › Be
Slide 7: Inauguration of the Sixth Hermès Maison at New Bond Street, London
INAUGURATION OF THE SIXTH HERMÈS MAISON AT 166 NEW BOND STREET, LONDON 6 buildings across almost Honouring the creativity and Pursuing the long-term Celebrating the relationship 2,000 square metres, craftsmanship of the house development strategy, between British culture and blending culture, by bri
Slide 8: Singular Communication
SINGULAR COMMUNICATION • Presenting Hermès and rediscovering the 16 métiers of the house › Saut Hermès at the Grand Palais in Paris › Hermès in the Making in Shanghai (Greater China) En attente visuels COM › Mystery at the Grooms’ in Seoul (Korea) › Into the Horsescape, ninth Haute Bijouterie collec
Slide 9: PS, eivnsl es -
PS, eivnsl es -
Slide 10: A Sustainable and Responsible Business Model
A SUSTAINABLE AND RESPONSIBLE BUSINESS MODEL PEOPLE AT THE HEART OF LOCAL ANCHORING OUR VALUES 63 production and training sites in France At end of June 2026, 27,107 employees, +600, of whom more than 300 in France Loupes workshop: high environmental performance Bonus of €3,000 to all its employees
Slide 11: Activity
Slide 12: Activity
ACTIVITY • At the end of June 2026, revenue amounted to €8.2 billion, up +6% at constant exchange rates and +2% at current exchange rates. › All the geographical areas and all the métiers posted growth, with the exception of the Middle East and Perfume and Beauty. › The Americas, Japan and Europe ex
Slide 13: Revenue by Geographical Area
REVENUE BY GEOGRAPHICAL AREA
Slide 14: Revenue by Geographical Area
REVENUE BY GEOGRAPHICAL AREA Change at constant in €m June 2026 rates France 753 2% Europe (excl. France) 1,165 9% EUROPE 1,918 6% Japan 798 11% Asia-Pacific (excl. Japan) 3,533 2% ASIA 4,330 4% Americas 1,585 15% Other (Middle East) 330 (4)% TOTAL 8,163 6% 2026 Half-Year Results 14
Slide 15: Revenue by Geographical Area
REVENUE BY GEOGRAPHICAL AREA 2026 / 2025 Japan France 10% / 10% 9% / 9% Europe (excl. France) 15% / 14% Asia-Pacific (excl. Japan) 43% / 44% Americas 19% / 18% Other (Middle East) 4% / 5% 2026 Half-Year Results 15
Slide 16: Revenue by Sector
REVENUE BY SECTOR
Slide 17: Revenue by Sector
REVENUE BY SECTOR Change at constant in €m June 2026 rates Leather Goods and Saddlery 3,761 10% Ready-to-wear and Accessories 2,198 2% Silk and Textiles 469 10% Other Hermès sectors 1,065 5% Perfume and Beauty 233 (4)% Watches 269 0% Other products 168 3% TOTAL 8,163 6% 2026 Half-Year Results 17
Slide 18: Revenue by Sector
REVENUE BY SECTOR 2026 / 2025 Watches 3% / 3% Other products Perfume and Beauty 2% / 2% 3% / 3% Other Hermès sectors 13% / 13% Silk and Textiles Leather Goods and Saddlery 6% / 6% 46% / 45% Ready-to-wear and Accessories 27% / 28% 2026 Half-Year Results 18
Slide 19: Results
Slide 20: Income Statement
Slide 21: Consolidated Income Statement (1/2)
CONSOLIDATED INCOME STATEMENT (1/2) in €m June 2026 % revenue June 2025 % revenue Revenue 8,163 8,034 Cost of sales (2,356) (2,356) Gross margin 5,807 71.1% 5,678 70.7% Communication (301) (3.7)% (294) (3.7)% Other sales and administrative expenses (1,598) (19.6)% (1,539) (19.1)% Other income and ex
Slide 22: Half-Year Recurring Operating Profitability Evolution
HALF-YEAR RECURRING OPERATING PROFITABILITY EVOLUTION in % of revenue 44.0 42.1 42.0 41.4 41.0 40.7 34.3* 34.9 34.8 21.5 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 * Before IFRS16 2026 Half-Year Results 22
Slide 23: Consolidated Income Statement (2/2)
CONSOLIDATED INCOME STATEMENT (2/2) in €m June 2026 % revenue June 2025 % revenue Operating income 3,351 41.0% 3,327 41.4% Net financial income 90 148 Income tax (1,217) (1,230) In % of income before tax 35.4% 35.4% Net income from associates 23 26 Non-controlling interests (9) (25) Net income attri
Slide 24: Half-Year Net Profitability Evolution
HALF-YEAR NET PROFITABILITY EVOLUTION in % of revenue 33.2 31.6 31.2* 30.7* 30.0 27.7 24.8 28.0 27.4 22.3 23.0 13.5 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 *Excluding exceptional contribution 2026 Half-Year Results 24
Slide 25: Half-Year Revenue and Net Income Evolution
HALF-YEAR REVENUE AND NET INCOME EVOLUTION in € billion in € billion 8.4 8.0 8.2 3.0 7.5 Sales CAGR* over 10 years +12.8% 2.5** 2.5** 7.2 6.7 Net income CAGR* over 10 years +15.2% 2.5 6.0 2.4 5.5 2.2 2.2 2.2 2.0 4.8 4.2 1.6 1.5 3.6 3.3 2.7 2.9 2.4 2.5 1.2 1.0 2.4 0.7 0.8 0.6 0.5 1.2 0.5 0.3 0.0 0.0
Slide 26: Investments and Cash Flow
INVESTMENTS AND CASH FLOW
Slide 27: Operating Investments
OPERATING INVESTMENTS Real estate and group projects €71 million Stores and distribution Total €197 million €344 million Production and métiers €75 million 2026 Half-Year Results 27
Slide 28: Restated Cash-Flow Statement
RESTATED CASH-FLOW STATEMENT in €m June 2026 June 2025 Operating cash flows 2,694 2,733 Change in working capital 6 (403) Cash flows related to operating activities 2,699 2,330 Operating investments (344) (316) Repayment of lease liabilities (173) (167) Adjusted free cash flow 2,182 1,847 Financial
Slide 29: Simplified Balance Sheet
9 SSS. WMPLIFIED a eel BALANCE SHEET, |
Slide 30: Simplified Balance Sheet
SIMPLIFIED BALANCE SHEET in €bn Assets Liabilities 24.8 24.3 24.8 24.3 Non-current assets 8.7 8.4 Inventories 2.7 2.6 19.0 18.8 Shareholders’ equity Other current assets 1.1 1.1 Cash 12.3 12.2 2.2 2.3 Non-current liabilities 3.6 3.2 Current liabilities 30/06/2026 31/12/2025 30/06/2026 31/12/2025 202
Slide 31: Outlook
Slide 32: Outlook
OUTLOOK • In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates. • The group continues its development with confidence, thanks to its highly integrated artisanal model, ba
Slide 33: 2026: Venture Beyond
2026: VENTURE BEYOND • Continued job creation in France and worldwide • Strengthening of strategic investments in production capacities in all the métiers • First men’s ready-to-wear collection by Grace Wales Bonner and first Couture collection by Nadège Vanhée in January 2027 2023 • Store openings
Slide 34: Questions and Answers
QUESTIONS AND ANSWERS
Slide 35: sunt
sunt HERMES
Hermès International Société — H1 2026 Earnings Presentation on 6ix