Compagnie Financiere Richemont Sa · SIX:CFR
Compagnie Financiere Richemont Sa — Richemont — H1 FY2022 Earnings Presentation
12 slides from Compagnie Financiere Richemont Sa's earnings presentation, November 2021
Slide 1: Operations
Operations At Richemont, We Craft the Future
Slide 2: Overview of Revenue by Region
H1-22 OVERVIEW OF REVENUE BY REGION › Sales growth across all regions 23% +63% Europe › Strongest growth from the Japan Americas 6% 22% +44% › Americas’ share of Group sales +114% Americas 7% +55% 42% nearly on par with Europe +48% Middle % of sales, % change at actual rates East and Africa Asia Pac
Slide 3: Sales by Region
SALES BY REGION changes at constant rates › Compared to H1-21: FY22 vs FY21 Q1 Q2 H1 Europe +108% +38% +62% Triple-digit growth in the Asia Pacific +95% +17% +47% Americas; solid double-digit Americas +276% +58% +123% growth elsewhere Japan +138% +20% +56% Middle East and Africa +154% +10% +62% ›
Slide 4: Sales by Distribution Channel
H1-22 SALES BY DISTRIBUTION CHANNEL › Strong increase in retail sales (+71% yoy, +34% yo2y) Strong performance across all regions and business areas yoy; double-digit increases at Jewellery Maisons and Specialist Watchmakers vs pre-Covid levels › Online retail sales 38% higher than H1-21 (+33% yo2
Slide 5: Performance – Jewellery Maisons
H1-22 PERFORMANCE – JEWELLERY MAISONS › Stellar sales growth (+67% yoy; +36% yo2y) Strong performance across all regions yoy All channels rose by double-digits yoy and yo2y › Operating results increased by 109%; exceptional H1 margin at 37.9% Increased manufacturing capacity utilisation Stro
Slide 6: Jewellery Maisons
H1-22 JEWELLERY MAISONS › Successful additions to iconic collections included Panthère (Cartier), Frivole(Van Cleef & Arpels) and Tulle (Buccellati), new high jewellery collections › Accelerated agility in production and supply › Continued store renovations with a stable network for Cartier and Van
Slide 7: Performance – Specialist Watchmakers
H1-22 PERFORMANCE – SPECIALIST WATCHMAKERS › Sales for the period increased by 74% (+7% yo2y) Very strong growth across all regions and Maisons Triple-digit increase in online retail, strong increases in retail and wholesale Acceleration of growth in Q2 vs Q1 yo2y › Significant improvement in
Slide 8: Specialist Watchmakers
H1-22 SPECIALIST WATCHMAKERS › Solid performance of iconic collections, including Overseas at Vacheron Constantin, Pilot’s watches at IWC, Reverso at Jaeger- LeCoultre, Luminor at Panerai, Possession and Polo at Piaget and Odysseus at A. Lange & Söhne › Further development of e-commerce capabilities
Slide 9: Performance – Online Distributors
H1-22 PERFORMANCE – ONLINE DISTRIBUTORS › Sales up 37% (+8% yo2y) Double-digit growth in all regions Gross Merchandise Value (GMV) up by 28% Accelerated growth Q2 vs Q1 yo2y › Operating loss of €141m broadly in line with prior year; EBITDA loss stable Absorption of Brexit-related customs dut
Slide 10: Online Distributors
H1-22 ONLINE DISTRIBUTORS › NET-A-PORTER, MR PORTER, THE OUTNET and YOOX NET-A-PORTER replatforming completed Move to hybrid business model progressing, with key brands starting to operate under this new model on NET-A-PORTER; YOOX marketplace roll out in preparation NET-A-PORTER Tmall flagshi
Slide 11: Performance – Other
H1-22 PERFORMANCE – OTHER › H1 sales increased 72% (-1% yo2y) Broad-based growth across Maisons Q2 sales above pre-Covid levels Travel retail impacted by reduced international travel › Operating result returns to positive with 3% operating margin Improved gross margin and strict cost control
Slide 12: Other – Fashion & Accessories
H1-22 OTHER – FASHION & ACCESSORIES › Successful reception of first collections from new creative directors at Chloé and Alaïa › Continued strong performance at Peter Millar › Delvaux acquisition › AZ Factory “Love Brings Love” tribute in honour of Alber Elbaz, with 45 houses and designers › Strong