17% de plus

 

Richemont continue d'afficher une solide croissance. Le groupe de luxe genevois a réalisé sur les neuf premiers mois de son exercice 2006/07 des ventes en hausse de 13% à 3,855 milliards d'euros (6,2 milliards de francs).

 

A taux de change constants, la progression atteint 17%. Les ventes d'instruments d'écriture (Montblanc, Montegrappa) se sont particulièrement bien développées (+19%).

Les montres ont de leur côté progressé de 14%. Ce pôle intègre principalement les marques IWC, Jaeger-LeCoultre, A. Lange & Söhne, Piaget, Vacheron Constantin et Baume & Mercier.

Le chiffre d'affaires dégagé en bijouterie-joaillerie (Cartier et Van Cleef & Arpels) a lui augmenté de 11%. Quant à la division des articles en cuir et accessoires (Alfred Dunhill), elle progressé de 6%.

L'Europe et l'Asie-Pacifique ont chacune grimpé de 16%, tandis que les Amériques ont progressé de 14%. Au Japon, compté séparément, le chiffre d'affaires était en hausse de 3%.

Au terme du seul troisième trimestre (clos au 31 décembre 2006), la croissance des ventes s'est inscrite à 10% par rapport à la même période de l'exercice précédent. L'augmentation se situe à + 15% à taux de change constants.

 

Richemont, the Swiss luxury goods group, announces that its sales in the quarter ended 31 December 2006 increased by 10 per cent at actual exchange rates compared to the prior year.

At constant exchange rates, sales increased by 15 per cent.

Percentage change in sales by business segment for the three-month period

At constant At actual exchange rates exchange rates

Jewellery Maisons + 13 % + 8 %

Specialist watchmakers + 17 % + 13 %

Writing instrument Maisons + 17 % + 13 %

Leather and accessories Maisons + 5 % + 1 %

Other businesses + 35 % + 29 %

Total sales + 15 % + 10 %

The Group's sales for the important third quarter trading season increased by 10 per cent despite more challenging comparative figures and the further weakening of both the dollar and yen against the euro during the period. The performance reflected strong underlying demand, with nearly all Maisons enjoying double-digit growth in sales at constant exchange rates; retail sales in December showed excellent growth.

Jewellery Maisons

The jewellery Maisons – Cartier and Van Cleef & Arpels – both reported double-digit growth in underlying sales during the quarter. At actual exchange rates, however, growth was limited to 8 per cent for the quarter. Both Maisons reported excellent growth in the Asia-Pacific region and in the United States.

Specialist watchmakers

All of the Group's specialist watchmakers reported underlying double-digit sales growth.

Panerai, A. Lange & Söhne, IWC and Jaeger- LeCoultre reported the strongest growth during the three-month period.

Writing instrument Maisons

Montblanc reported excellent sales, supported by the Maison's centenary products. The ladies' jewellery lines launched last year contributed to the growth in sales, as did the expansion of Montblanc's retail network.

Leather and accessories Maisons

Alfred Dunhill reported double-digit sales growth in key Asian markets, aided by the integration of retail activities in China. Sales growth in Japan, however, was modest.

Overall sales at actual rates were in line with the prior year. At Lancel, sales grew by 3 per cent in the quarter.

Other businesses

Sales at Chloé increased by 60 per cent during the period. The slower rate of growth compared to the first six months reflected the outstanding rate of growth during the comparative three-month period.

Nine months sales

Cumulative sales for the nine-month period to 31 December 2006 increased by 13 per cent at actual exchange rates to 3 855 million. At constant exchange rates, sales increased by17 per cent. Details of the nine-month sales trends by segment and geographic region are given as an appendix to this announcement.

Percentage change in sales by geographic region for the three-month period

At constant At actual exchange rates exchange rates

Europe + 14 % + 13 %

Asia-Pacific + 19 % + 13 %

Americas + 18 % + 11 %

Japan + 6 % - 2 %

Total sales + 15 % + 10 %

Europe

The third quarter of the year saw a slower rate of sales growth compared to the 18 per cent reported during the first six months. This was in part due to lower growth in wholesale sales. The Maisons maintained double-digit growth overall and sales in newer markets such as Russia continued to grow strongly.

Asia-Pacific

The outstanding performance in the region seen during the first half of the year was maintained during the third quarter. The development of the market in mainland China, the second largest market in the region, contributed significantly to this growth.

Americas

At constant rates, sales in the Americas also continued to grow at a high rate during the quarter, in line with the first six months. At actual exchange rates, sales grew at 11 per cent, reflecting the further weakening of the dollar against the euro during the period. Consumer confidence and demand for the Group's products remained at high levels with Cartier and Van Cleef & Arpels both delivering excellent performances.

Japan

The 6 per cent growth in local currency sales in Japan was more than offset by the further, marked weakening of the yen during December.

Although the excellent performance seen in the same period last year set a very tough basis for comparison for the jewellery Maisons, the Group's underlying sales continued to grow, with excellent performances by the specialist watchmakers and Montblanc.

Sales by distribution channel

During the period, the Group's retail sales increased by 14 per cent at actual exchange rates. Wholesale sales increased by 7 per cent.

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Richemont owns a portfolio of leading international brands or ‘Maisons', which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 18.9 per cent interest in British American Tobacco.

_____________________________________________________________________

Appendix 1 – Movement in sales for the nine-month period ended 31 December 2006

Percentage change in sales by business segment

At constant At actual exchange rates exchange rates

Jewellery Maisons + 14 % + 11 %

Specialist watchmakers + 16 % + 14 %

Writing instrument Maisons + 21 % + 19 %

Leather and accessories Maisons + 9 % + 6 %

Other businesses + 44 % + 40 %

Total sales + 17 % + 13 %

Percentage change in sales by geographic region

At constant At actual exchange rates exchange rates

Europe + 17 % + 16 %

Asia-Pacific + 19 % + 16 %

Americas + 19 % + 14 %

Japan + 11 % + 3 %

Total sales + 17 % + 13 %

Appendix 2 – Exchange rates

Exchange rates 6 months to 6 months to 9 months to 9 months to against the euro 30 Sept 2006 30 Sept 2005 31 Dec 2006 31 Dec 2005

Average

United States dollar 1.27 1.24 1.27 1.22

Japanese yen 145.93 135.48 147.85 136.75Swiss franc

1.57 1.55 1.58 1.55

Pound sterling 0.68 0.68 0.68 0.68

The reported sales growth for the three months ended 31 December is derived from the difference between the cumulative sales for the nine-month period to 31 December and those reported for the six-month period to 30 September in each year. Sales have been translated into euros at the average exchange rates for each period as set out above.

In terms of sales at constant exchange rates, average exchange rates for the year ended 31 March 2006 are used to convert local currency sales into euros for both the current and for the comparative periods. Exchange rate translation effects are thereby eliminated from the reported sales performance.

 

Communiqué

Richemont: les ventes ont progressé de 10 % au 3T.

(Cercle Finance) - Dans le rouge depuis l'ouverture, l'action Richemont a interrompu ce matin le mouvement qui l'a vu toucher hier, au terme de quatre séances consécutives de hausses, un record historique de 72,60 francs suisses.

Le titre du groupe de luxe se replie ainsi de 2,7 % à 70,70 CHF.

Richemont a indiqué que son chiffre d'affaires avait progressé de 10 % au quatrième trimestre 2006, troisième de son exercice fiscal 2006/2007. A taux de change constants, la croissance est portée à 15 %.

Le groupe se félicite d'une performance réalisée en dépit d'une base de comparaison annuelle difficile et la faiblesse du dollar et du yen face à l'euro.

Chacune des divisions a enregistré une hausse de ses ventes. On note une progression de 8 % dans les Bijoux et de 13 % dans les Montres à taux de change réel, et de 13 et 17 % à taux constants.

Par zones géographiques, les ventes de Richemont se sont appréciées de 13 % en Europe (+14 % à taux constants), de 13 % dans la zone Asie-Pacifique (+19 %) et de 11 % sur le continent américain (+18 %); elles se sont repliées de 2 % au Japon, où elles ressortent en hausse de 6 % à taux de change constant