Compagnie Financière Tradition S.A. (0QL7) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Richemont's 2025 full-year results presentation. Thank you for joining us in person in Geneva and virtually by webcast. I am Alessandra Girolami, Group Investor Relations Director, and joining me today are Johan Ruppert, Chairman, Nicolas Boss, CEO, and Burkhard Grun CFO. As usual, the company announcement and results presentation can be downloaded from richmond.com and the replay of the webcasts 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 announcement and on slide two of our presentation. Turning now to the presentation, Nicolas will begin by discussing the year's highlights and group sales. Burkhardt will then review our business areas and group financials, and Nicolas will finish with some concluded remarks. The presentation will then be followed by a Q&A session open to participants present in the room. I will now hand over to Nicolas. Thank you, Alexandra, and good morning to everyone. Thank you for joining us today. In fiscal year 25, Richemont delivered a robust performance in an uncertain macroeconomic environment, and I would like to start by warmly thanking our teams for their dedication throughout the year. Let's now go over our key numbers. Sales reached €21.4 billion, an all-time high for the group, up 4% at actual and constant exchange rates. Operating profits stood at 4.5 billion euros, down 7% compared to the prior year, or down 4%, excluding unfavorable foreign exchange movements. Profit from continuing operations at 3.8 billion euros was 1% lower than the prior year. Cash flow from operating activities amounted to 4.4 billion euros. Finally, our net cash position remained robust at 8.3 billion euros. Turning to...