Chiffre d'affaires de 4,83 milliards d'euros
La forte demande en montres de luxe a dopé les ventes de Richemont lors de son dernier exercice. Le groupe genevois a réalisé un chiffre d'affaires de 4,83 milliards d'euros (7,7 milliards de francs) en 2006/2007, en progression de 12% sur un an. A taux de change constants, la hausse a atteint 17%. Toutes les branches et toutes les zones géographiques ont connu une amélioration lors de l'exercice clos au 31 mars, a indiqué Richemont. Les résultats ne correspondent toutefois pas aux attentes du marché.Le chiffre d'affaires du secteur bijouterie-joaillerie (Cartier et Van Cleef & Arpels) a augmenté de 9% à 2,4 milliards d'euros. Les ventes de montres ont gagné 13%, à 1,2 milliard tandis que les articles en cuir et accessoires (Alfred Dunhill) ont affiché une hausse de 8% à 307 millions.
Communiqué
UNAUDITED SALES FIGURES FOR THE FINANCIALYEAR
ENDED 31 MARCH 2007
The final quarter of the financial year saw a continuation of the strong growth in sales of luxury products seen during the first nine months. Overall sales for the year grew by 16 per cent at constant exchange rates. The underlying growth was offset by the weakness of the dollar and yen such that sales at actual rates grew by 12 per cent over the full year.
For the year as a whole, all business areas performed well and all geographic regions showed double-digit growth in sales at constant rates, with the Asia-Pacific region growing by 24 per cent at constant rates.
Jewellery Maisons
Of the Group's Jewellery Maisons, Cartier reported double-digit growth at constant rates in all regions with the exception of
Japan
, which saw modest growth. Van Cleef & Arpels also enjoyed very good growth in sales; products linked to the Maison's centenary in 2006 and related communications activity contributed to the strong performance.Specialist watchmakers
High levels of demand continued in all regions, generating double-digit sales growth for the Group's specialist watchmakers. Most notably, sales of both Panerai and A. Lange & Söhne grew strongly during the year.
Writing instrument Maisons
Montblanc also celebrated its centenary during 2006. Sales benefited from the special centenary products, the programme of events surrounding the anniversary and the launch of the new Montblanc female jewellery line, together with the development of its retail network, which contributed 6 per cent to the growth in sales at actual rates. The Maison performed well in all geographic regions.
Leather and accessories Maisons
Alfred Dunhill reported double-digit growth at constant exchange rates in the Asia-Pacific region for the year, helped by the development of its retail network. However, sales in the important Japanese market were flat in local currency terms. Lancel reported a double-digit increase in sales for the year at constant rates, reflecting growth driven by the success of its new products.
Other businesses
The growth in sales in the Group's other businesses primarily reflects the further development of Chloé. Chloé's sales increased by some 50 per cent at constant rates during the year, the Maison benefiting from the substantial increase in its retail network. Exceptional growth in the first six months was offset by more moderate growth in the latter part of the year, measured against a higher comparative base.
Sales by geographic region for the year
Europe
The overall increase of 13 per cent reflects double-digit growth in all business areas. Montblanc and the specialist watchmakers all performed very well over the course of the year. Sales in
Europe represent 42 per cent of total Group sales.
Asia-Pacific
Sales grew at a faster rate during the fourth quarter than had been seen during the first nine months of the year. Excellent demand was seen in all business areas. Both Montblanc and Alfred Dunhill benefited from the development of their own retail distribution networks in
China
during the year.
Americas
The
Americas
region reported strong underlying growth of 18 per cent, notwithstanding the good growth seen in the prior year and the challenging comparative base. The decrease in the value of the dollar relative to the euro during the year resulted in sales growth of 12 per cent at actual exchange rates.
Japan
Double-digit sales growth in the domestic Japanese market was largely offset by the weakness of the yen when translated into euros. At actual rates, sales grew by 1 per cent. Sales in
Japan
represent 15 per cent of total Group sales.Sales by distribution channel
At actual exchange rates, the Group's retail sales increased by 14 per cent overall to 2 009 million Euros. Wholesale sales increased by 11 per cent at actual exchange rates.
Comparative figures
Prior year comparative figures include the sale of two businesses disposed of during that year : Hackett is included for the two-month period to 31 May 2005 and Old England for the twelve-month period to 31 March 2006.
Total sales in the comparative period from these two businesses amounted to 18 million Euros.
Richemont's results for the financial year ended 31 March 2007 will be released on Thursday, 24 May 2007. As the Group is now in a closed period until the release of the full year results in May, Richemont is not in a position to comment further in connection with the information contained in this announcement.
Appendix
Foreign exchange rates
Actual exchange rates for the year are calculated using the average daily closing rates against the euro.
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 year and comparative
figures. Exchange rate translation effects are thereby eliminated from the reported sales performance.
Richemont press release dated 24 April 2007
Notes
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 a 19.0 per cent interest in British American Tobacco. Richemont equity accounts its interest in British American Tobacco; accordingly, the Group does not include sales reported by British American Tobacco in its sales figures.
