Wrap Text
Richemont delivers strong sales growth and solid results for the year ended 31 March 2026
Compagnie Financière Richemont SA
("Richemont" or "the Company" or "the Group")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0210483332
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
22 MAY 2026
RICHEMONT DELIVERS STRONG SALES GROWTH AND SOLID RESULTS
FOR THE YEAR ENDED 31 MARCH 2026
Group highlights
* Group sales at EUR 22.4 billion, up by 11% at constant rates (+5% actual) with
continued momentum in Q4 at +13%
* Operating profit at EUR 4.5 billion including EUR 164 million of non-recurring
costs, with strong top-line growth and cost discipline mitigating the effect of
weaker main trading currencies and higher raw material costs
* Continued focus on cultivating Maisons' long-term potential through sustained
investment in craftsmanship, heritage preservation and strategic footprint
expansion in distribution and manufacturing
Financial highlights
* Sales growth across all business areas, regions and distribution channels at
constant rates; sustained double-digit performance at Jewellery Maisons and in
the Americas throughout the year
* Operating profit up by 1%, or by 23% at constant exchange rates, resulting in
a 20.0% operating margin
* Continued strength at Jewellery Maisons with sales up by 8%, or up by 14% at
constant exchange rates, delivering a 30.5% operating margin
* Sales at Specialist Watchmakers down by 4%, or up by 1% at constant exchange
rates led by a return to growth in the second half; operating margin at 3.4%
* Resilient top line at the 'Other' business area with sales down by 2%, or up
by 3% at constant exchange rates; EUR 96 million operating loss
* EUR 3.5 billion profit for the period, up from EUR 2.8 billion, supported by
robust operating profit and non-recurrence of the YNAP write-down in prior year
* Strong net cash position at EUR 8.5 billion, underpinned by EUR 4.9 billion
cash flow generated from operating activities
* Proposed ordinary dividend of CHF 3.30 per 1 'A' share/10 'B' shares, up by
10%, and special dividend of CHF 1.00 per 1 'A' share/10 'B' shares
Key financial data (audited)
+--------------------------------+--------------+--------------+------------+
| | 2026| 2025| change|
+--------------------------------+--------------+--------------+------------+
|Sales | EUR 22 420m| EUR 21 399m| +5%|
+--------------------------------+--------------+--------------+------------+
|Gross profit | EUR 14 438m| EUR 14 319m| +1%|
+--------------------------------+--------------+--------------+------------+
|Gross margin | 64.4%| 66.9%| -250 bps|
+--------------------------------+--------------+--------------+------------+
|Operating profit | EUR 4 492m| EUR 4 467m| +1%|
+--------------------------------+--------------+--------------+------------+
|Operating margin | 20.0%| 20.9%| -90 bps|
+--------------------------------+--------------+--------------+------------+
|Profit for the year from | | | |
|continuing operations | EUR 3 464m| EUR 3 762m| -8%|
+--------------------------------+--------------+--------------+------------+
|Profit/(loss) for the year | | | |
|from discontinued operations | EUR 20m| EUR (1 012)m| |
+--------------------------------+--------------+--------------+------------+
|Profit for the year | EUR 3 484m| EUR 2 750m| +27%|
+--------------------------------+--------------+--------------+------------+
|Dividend per 'A' share/10 'B' | | | |
| shares | CHF 3.30| CHF 3.00| +10%|
+--------------------------------+--------------+--------------+------------+
|Special dividend per 'A' share/ | | | |
|10 'B' shares | CHF 1.00| -| |
+--------------------------------+--------------+--------------+------------+
|Earnings per 'A' share/10 'B' | | | |
|shares, diluted basis | EUR 5.909| EUR 4.671| +27%|
+--------------------------------+--------------+--------------+------------+
|Earnings per 'A' share/10 'B' | | | |
|shares, basic | EUR 5.926| EUR 4.689| +26%|
+--------------------------------+--------------+--------------+------------+
|Headline earnings per 'A' share/| | | |
|10 'B' shares, basic | EUR 6.132| EUR 6.351| -3%|
+--------------------------------+--------------+--------------+------------+
|Cash flow generated from | | | |
|operating activities | EUR 4 880m| EUR 4 443m| +EUR 437m|
+--------------------------------+--------------+--------------+------------+
|Net cash position | EUR 8 496m| EUR 8 257m| +EUR 239m|
+--------------------------------+--------------+--------------+------------+
Please contact Computershare at Web.Queries@Computershare.co.za if you wish to
receive any documents electronically for Richemont.
This results announcement is the responsibility of the directors of Compagnie
Financière Richemont SA and is a summary of the information in the audited
consolidated annual financial statements for the year ended 31 March 2026,
available through the JSE's cloudlink as follows :
https://senspdf.jse.co.za/documents/2026/JSE/ISSE/CFR/FY26.pdf and
on the Group's website:
https://www.richemont.com/investors/results-reports-presentations/
This results announcement does not contain full financial details and any
investment decision should be based on the audited consolidated annual financial
statements for the year ended 31 March 2026, which are available through the
links above. The reconciliation of the headline earnings, as required in terms
of the JSE Listing Requirements, is set out in the notes to the financial
statements. KPMG SA, the Company's statutory auditor, has audited the
consolidated annual financial statements for the year ended 31 March 2026 from
which this results announcement has been derived and has expressed an unmodified
audit opinion on the consolidated annual financial statements for the year ended
31 March 2026.
The consolidated annual financial statements for the year ended 31 March 2026
have been prepared in accordance with International Financial Reporting
Standards and IFRS Interpretations Committee interpretations (together 'IFRS').
The detailed ad-hoc results announcement for the year ended 31 March 2026 is
available on the Group's website:
https://www.richemont.com/investors/results-reports-presentations/
Richemont 'A' shares issued by Compagnie Financière Richemont SA are listed on
the SIX Swiss Exchange, Richemont's primary listing
(Reuters 'CFR.S' / Bloomberg 'CFR:SW' / ISIN CH0210483332). They are included in
the Swiss Market Index ('SMI') of leading stocks and the MSCI Switzerland
IMI ESG Leaders Index. The 'A' shares are also listed on the Johannesburg Stock
Exchange, Richemont's secondary listing
('CFRJ.J' / Bloomberg 'CFR:SJ' / ISIN CH0210483332).
Notes for South African editors
Acknowledging the interest in Richemont's results on the part of South African
investors, set out below are key figures from the results expressed in rand.
The average euro/rand exchange rate prevailing during the year ended 31 March
2026 was 20.102; this compares with a rate of 19.571 during the comparative
year.
+--------------------------------+-------------+-------------+------------+
Financial year ended 31 March | 2026| 2025| change|
+--------------------------------+-------------+-------------+------------+
|in ZAR millions | | | |
+--------------------------------+-------------+-------------+------------+
|Revenue | 450 687| 418 800| +8%|
+--------------------------------+-------------+-------------+------------+
|Operating profit | 90 298| 87 424| +3%|
+--------------------------------+-------------+-------------+------------+
|Profit for the period | 70 035| 53 820| +30%|
+--------------------------------+-------------+-------------+------------+
|Profit attributable to: | | | |
+--------------------------------+-------------+-------------+------------+
|Owners of the parent company | 70 035| 53 840| +30%|
+--------------------------------+-------------+-------------+------------+
|Non-controlling interests | -| (20)| +100%|
+--------------------------------+-------------+-------------+------------+
| | 70 035| 53 820| +30%|
+--------------------------------+-------------+-------------+------------+
|ZAR per share | | | |
+--------------------------------+-------------+-------------+------------+
|Earnings per Richemont 'A' | | | |
|share - diluted basis in ZAR | 118.7827| 91.4161| +30%|
+--------------------------------+-------------+-------------+------------+
|Headline earnings per Richemont | | | |
|'A' share - diluted basis in ZAR| 122.9036| 123.8257| -1%|
+--------------------------------+-------------+-------------+------------+
Headline earnings per Richemont 'A' share exclude the impact of losses amounting
to ZAR 2 432 million (EUR 121 million). In the comparative period, headline
earnings per Richemont 'A' share excluded the impact of losses amounting to
ZAR 19 082 million (EUR 975 million). Further details of these losses, which
conform to the JSE listing requirements, are presented in note 29.3 of the
audited annual consolidated financial statements.
Headline earnings per 'A' share/10 'B' shares
The presentation of headline earnings per 'A' share/10 'B' shares as an
alternative measure to earnings per share is required under the JSE listing
requirements.
+---------------------------------------+-------------+-------------+
| | 2026| 2025|
+---------------------------------------+-------------+-------------+
|Profit attributable to owners of the | | |
|parent company | EUR 3 484m| EUR 2 751m|
+---------------------------------------+-------------+-------------+
|Loss on disposal of non-current assets | EUR 17m| EUR 16m|
+---------------------------------------+-------------+-------------+
|Compensation from third parties for | | |
|non-current assets | EUR (4)m| EUR (6)m|
+---------------------------------------+-------------+-------------+
|Impairment of non-current assets | EUR 99m| EUR 23m|
+---------------------------------------+-------------+-------------+
|Write-down of assets held for sale | EUR 47m| EUR 954m|
+---------------------------------------+-------------+-------------+
|Gain on disposal of equity-accounted | | |
|investments | –| EUR (9)m|
+---------------------------------------+-------------+-------------+
|Currency exchange (gains)/losses | | |
|reclassified from currency translation | | |
|adjustment reserve | EUR (33)m| –|
+---------------------------------------+-------------+-------------+
|Total tax effect of adjustments | EUR (5)m| EUR (3)m|
+---------------------------------------+-------------+-------------+
|Headline earnings | EUR 3 605m| EUR 3 726m|
+---------------------------------------+-------------+-------------+
|Weighted average number of shares: | | |
+---------------------------------------+-------------+-------------+
|Basic | 587.9m| 586.7m|
+---------------------------------------+-------------+-------------+
|Diluted | 589.6m| 588.9m|
+---------------------------------------+-------------+-------------+
|Headline earnings per 'A' share/ | | |
|10 'B' shares: | | |
+---------------------------------------+-------------+-------------+
|Basic | EUR 6.132| EUR 6.351|
+---------------------------------------+-------------+-------------+
|Diluted | EUR 6.114| EUR 6.327|
+---------------------------------------+-------------+-------------+
Sponsor:
Rand Merchant Bank (A division of FirstRand Bank Limited)
1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton, 2196
Email: sponsorteam@rmb.co.za
Date: 22-05-2026 07:30:00
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