Hermès International Société (HESAY) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.031 Ladies 00:00:04.356 -- 00:00:08.241 and gentlemen, welcome to the presentation of the financial results of the first half 00:00:08.241 -- 00:00:13.368 of the year 2025. Now over to Axel Dumas, head of Hermès-Satagène, 00:00:13.368 -- 00:00:15.851 and Mr. Elie Kjellgut, in charge of finances. 00:00:15.851 -- 00:00:18.014 Gentlemen, over to you. 00:00:18.014 -- 00:00:23.401 Thank you. Good morning, one and all. I'm very happy to present to you today the half-year 00:00:23.401 -- 00:00:26.101 results for 2025. 00:00:26.677 -- 00:00:31.946 At the end of June 2025, Hermès recorded a solid growth of sales and the current 00:00:31.946 -- 00:00:37.976 operating income up by 6%. The sales reached €8 billion, 00:00:37.976 -- 00:00:43.104 up by 8% at constant rate, and all the regions are progressing. 00:00:43.104 -- 00:00:47.672 The solidity of the results of the first half-year results reflect the strength of the 00:00:47.672 -- 00:00:53.379 Hermès model. They're based on the singularity and authenticity of our artisanal model, 00:00:53.379 -- 00:00:58.606 our creative originality, our exceptional know-how and uncompromising quality. 00:00:58.606 -- 00:01:03.693 I wish to thank our customers for their trust and our employees for their 00:01:03.693 -- 00:01:09.040 commitment. In these uncertain times, our customers were present, sensitive 00:01:09.040 -- 00:01:15.420 to the singularity of our objects and the strong territorial anchors locally 00:01:15.683 -- 00:01:20.509 and the transmission of know-how. Our house pursues its investments in production capacity 00:01:20.509 -- 00:01:25.516 and securing our supply chain as well as our exclusive distribution network 00:01:25.516 -- 00:01:28.860 to accompany the pace of long-term 00:01:28.860 --...