Hermes International said profits and revenue rose in 2021, with Asia leading the way and Europe recovering from the pandemic.
The French luxury fashion company showed a net profit of 2.45 billion Euros, increased by 77% on an annual basis, while revenues increased to 8.98 billion Euros from 6.88 billion Euros in 2019, before the pandemic.
Analysts expected net profits of 2.34 billion euros and revenues of 9 billion euros.
The increase in revenues compared to 2019, maintained a rate of 33% in the second half as in the first, Hermes stressed.
Sales in Asia for the year were more than half compared to 2019, making the region the largest revenue growth engine for the company.
Total sales in Europe returned to growth of 4.3% over the same period, although in the domestic market, France, there was a slight decline.
The company will propose a dividend of 8 euros per share for the year, at the shareholders’ meeting in April.
He did not give estimates for 20222 but stressed that he continues to aim at an ambitious increase in organic revenues in the medium term.
Source: Capital
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