On May 17, 2019, the Swiss luxury goods group Richemont announced its unaudited consolidated results for the year ended March 31, 2019.
Financial Highlights
· YOOXNET-A-PORTERGROUP (YNAP) and Watchfinder.co.uk (Watchfinder) were merged into the group account on May 1, 2018 and June 1, 2018, respectively, and counted as online distribution.
· Calculated at the actual exchange rate, sales increased by 27% year-on-year to reach 13.898 billion euros; calculated at constant exchange rates, sales increased by 27% year-on-year.
· Excluding YNAP and Watchfinder, sales increased 8% year-on-year at the actual exchange rate, and sales increased 8% year-on-year at the constant exchange rate.
Growth in all business areas and most regions.
Double-digit growth in Asia Pacific and Americas.
Double-digit growth in the jewelry department and specialty watch-brand boutiques.
· Operating profit increased by 5% year-on-year to 1.943 billion euros; after deducting online distribution and one-time expenses of 118 million euros, operating profit margin increased to 19.5%.
· This year’s profit increased to 2.787 billion euros, including 1.378 billion euros in non-cash gains after tax after revaluation of YNAP shares held before the acquisition.
Net cash position of € 2.528 billion.
Proposed dividend of 2.00 Swiss francs per 1A share / 10B share, an increase of 5%
Key data
As of March 31, 2019
For the fiscal year ended March 31, 2018
Variety
Sales
13.889 billion euros
11.013 billion euros
+ 27%
Gross profit
8.645 billion euros
€ 7.184 billion
+ 20%
Gross profit margin
61.8%
65.2%
-340bps
operating profit
1.943 billion euros
1.844 billion euros
+ 5%
Operating margin
13.9%
16.7%
-280bps
Profit for the year
2.787 billion euros
1,221 million euros
+ 128%
Earnings per 1A share / 10B share
€ 4,927
2.158 euro
+ 128%
Operating cash flow
2.331 billion euros
2.723 billion euros
-392 million euros
Net cash position
2.528 billion euros
5.269 billion euros
€ 2.741 billion
Sales statistics (by region)
Unit: Million USD
As of March 31, 2019
For the fiscal year ended March 31, 2018
At a constant exchange rate
At real exchange rate
Europe
4118
3019
+ 37%
+ 36%
Asia Pacific
5243
4352
+ 20%
+ 20%
America
2551
1806
+ 40%
+ 41%
Japan
1148
980
+ 16%
+ 17%
Middle East and Africa
929
856
+ 8%
+ 9%
total
13989
11013
+ 27%
+27%