Ventes en hausse de 8% au premier trimestre

Les ventes du groupe de luxe genevois Richemont ont progressé de 8% au premier trimestre de son exercice 2007/08 (octobre-décembre), sur un an. Elles se sont inscrites à 1,67 (1,55) mrd EUR (2,57 mrd CHF). A taux de changes constants, la croissance est ressortie à 14%, a indiqué Richemont mercredi dans un communiqué. Le groupe de luxe a ainsi manqué aux attentes des analystes. Le consensus AWP avait établi une hausse du chiffre d'affaires de 8,9% (de 6,1 à 11,6%) aux taux constants actuels de 14,7% (de 12,0 à 18,0%). La division qui a connu la plus forte croissance nominale du chiffre d'affaires est l'horlogerie, devant les instruments d'écritures et la bijouterie-joaillerie.

Richemont: l'Asie porte les ventes au troisième trimestre

Le numéro deux mondial du luxe a réalisé au troisième trimestre de son exercice 2007-2008 un chiffre d'affaires en hausse de 14% à 1,673 milliard d'euros, porté par une forte croissance des ventes en Asie-Pacifique. L'Amérique résiste malgré un mois de décembre en retrait.La Tribune / www.latribune.fr

 

INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS ENDED Richemont presents its interim management statement for the three months ended 31 December 2007. This statement is intended to provide investors with an overview of trading performance and any significant developments in the Group, not full quarterly financial reporting. Accordingly,  no figures in respect of operating or attributable profit are provided in this report. Equally, no commentary is given here on the performance of the Group's principal associated company, British American Tobacco plc. The information contained in this report has not been audited. Overview The three months ended 31 December 2007 saw strong demand for the Group's luxury products, with underlying sales growth at 14 per cent at constant exchange rates. At actual exchange rates, sales increased by 8 per cent to € 1 673 million. Although the strongest sales growth during the period was reported in the Asia-Pacific and Europe regions, sales for the quarter in the Americas region increased by 10 per cent at constant exchange rates. The Group overall enjoyed good growth in underlying sales during the first two months of the quarter. However, December saw underlying growth of 10 per cent, as demand in the US and Japanese markets slowed somewhat. Jewellery Maisons The Group's Jewellery Maisons reported underlying sales growth of 15 per cent during the period. Cartier saw good growth in the Asia-Pacific region and Van Cleef & Arpels reported very strong growth in all regions, albeit from a lower base. Specialist watchmakers The Group's specialist watchmakers saw good demand during the period, with underlying sales growth of 16 per cent. Piaget, IWC and Panerai performed particularly well. Writing instrument Maisons Montblanc reported double-digit sales growth at constant rates, despite the strong comparative figures reported in 2006, its centenary year. Leather and accessories Maisons Alfred Dunhill reported continuing good sales growth, particularly through its own boutique network. Lancel's sales were marginally lower than the comparative period at actual exchange rates. Other businesses The increase in sales of other businesses included the positive impact of watch component manufacturing acquisitions made during the current financial year. Chloé achieved underlying sales growth of 9 per cent. Sales by geographic region Europe The overall increase of 10 per cent at actual exchange rates reflects a continuation of the trend established during the first six months of the year. Asia-Pacific The region continued to report outstanding sales growth, particularly in China and Hong Kong. Sales in the region represented 23 per cent of Group turnover during the quarter. Americas In the Americas region, constant currency sales grew by 10 per cent. The increase was offset by significant exchange rate effects, resulting in sales at actual exchange rates being in line with the comparative period. Japan The Japanese market remained challenging during the quarter with sales growth of 2 per cent in yen terms. Sales by distribution channel At actual exchange rates, the Group's retail sales increased by 10 per cent and wholesale sales increased by 6 per cent. Financial position The Group's overall financial situation did not change significantly during the quarter under review. The Group's net cash position at 31 December 2007 amounted to € 1 093 million, an increase of € 189 million over the position at 30 September 2007. This increase primarily reflected seasonal net cash inflows in respect of operations, partly offset by investing activities. During the period, the Group acquired Azzedine Alaïa SAS, a small but prestigious French fashion house, and Donzé- Baume SA, a Swiss watch case manufacturer. British American Tobacco At 31 December 2007, the Group's effective interest in British American Tobacco plc (‘BAT') was 19.3 per cent. Based on the market price of ordinary shares on that date, the market value of the Group's interest in BAT amounted to € 10 456 million. Richemont equity accounts its interest in BAT; accordingly, the Group does not include turnover reported by BAT in its sales figures. Restructuring On 19 November, Richemont announced that the Group was investigating the potential to restructure its operations to separate its luxury goods businesses from its other interests. The announcement intimated that such a restructuring may entail providing Richemont unitholders with the option of becoming direct shareholders in British American Tobacco plc. A further announcement will be made in due course.