Compagnie Financière Richemont S.A. (0QMU) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Richemont's 2026 full-year results presentation. Thank you for joining us in person in Geneva or virtually by webcast. I'm Alessandra Girolami, Group IR Director, and joining me today are Johan Ruppert, Chairman, Anton Ruppert, Nicolas Boss, CEO, and Burka Grun CFO. As usual, the company announcement and results presentation can be downloaded from richemont.com and the replay of the webcast will be available on our website today from 3 p.m. Geneva time. Before we begin, please take note of the forward-looking statements in our ad hoc announcements and on slide two of the presentation. Turning now to the presentation, Nicolas will begin by discussing the year's highlights and group sales. Lookout will then review our business areas and group financials, and Nicolas will finish with some concluding remarks. This presentation will then be followed by a Q&A session open to participants present in the room. I now hand over to Nicolas. Thank you, Alessandra, and good morning to everyone. Thank you for joining us today. In fiscal year 2036, Richemont delivered strong sales momentum and solid results against fast-evolving global conditions. And I would like to start by warmly thanking all teams for their dedication and achievements throughout such a challenging year. Let's start with a few key numbers. Sales reached 22.4 billion euros, an increase of 11% at constant exchange rates and 5% at actual exchange rates. Operating profit came in at 4.5 billion euros, up by 1% compared to the prior year, or up by 23% at constant exchange rates. Profit for the year reached 3.5 billion euros, compared to 2.8 billion euros in the prior year. This solid performance led to the generation of 4.9 billion euros of cash flow from operating activities, en...