Hermes International SA

RMS

Equity

ISIN FR0000052292 / Valor 86689

Euronext - Euronext Paris (2026-05-29)

EUR 1,620.00-0.86%

Hermes International SA
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About company

Hermès International SA, established in 1837, is a renowned French luxury goods manufacturer known for its commitment to craftsmanship and high-quality materials. The company operates in the luxury sector, producing a wide range of products including leather goods, lifestyle accessories, home furnishings, perfumery, jewelry, watches, and ready-to-wear. With a strong foundation in artisanal tradition and humanist values, Hermès emphasizes the importance of creativity, innovation, and the transmission of exceptional know-how in the creation of its products. The company maintains a significant portion of its production in France across 54 manufacturing sites, while also boasting a global distribution network with 300 stores in 45 countries. This network is designed to offer a unique shopping experience that blends Hermès' identity with local culture, ensuring a personalized approach to customer service. As a family-owned, independent company, Hermès has successfully preserved its entrepreneurial spirit and artisanal heritage through six generations, positioning itself as a leader in the luxury market.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Top‑line

Full‑year revenue: €16,002m (+8.9% at constant rates). Q4 revenue: €4,087m (+9.8% at constant rates). Currency movements weighed ~€515m negative on 2025 revenue.

Profitability

Recurring operating income €6,569m, up 7%, with recurring operating margin at 41.0% (vs. 40.5% in 2024). Reported net profit (group share) €4,524m; adjusted for the one‑off contribution, net profit amounted to ~€4.86bn (+5.5%).

Cash generation & balance sheet

Operating cash flow ~€5.6bn (+5%); adjusted free cash flow ~€3.9bn after €1.2bn capex and €0.3bn lease repayments. Restated net cash position ~€12.8bn (up from ~€12.0bn at end‑2024).

Geographic performance

Growth was broad‑based: Japan +14% (FY), Americas +12%, Europe ex‑France +11%, France +9%, Other (mainly Middle East) +15%. Asia (ex‑Japan) grew +5% FY, Q4 +8%.

Performance by métier

Leather Goods & Saddlery led (+13% FY) with capacity expansion; Ready‑to‑wear & Accessories +6%; Silk & Textiles +5%; Jewellery/Home (“Other Hermès sectors”) +11%. Perfume & Beauty declined (-8%) versus a strong 2024 base; Watches slightly down (-2% FY) but improved in H2.

Capital allocation & shareholder returns

Proposed dividend €18.00 per share (includes €5.00 interim already paid). Continued investment in production and retail expansion (new and extended stores, multiple workshops announced).

Workforce & sustainability

Headcount increased to 26,494 (+~1,300 in 2025, including +800 in France). Group granted a €120 monthly gross pay rise in France and a €3,000 worldwide bonus for 2025. Climate commitments: SBTi‑aligned reductions (Scopes 1 & 2 -69% absolute vs. 2018; Scope 3 -58% intensity vs. 2018).

Outlook

Management confirms an ambitious medium‑term revenue growth objective at constant exchange rates and enters 2026 confident in its vertically integrated artisanal model, balanced distribution network and creative pipeline.

Summarized from source with an LLMView Source

Key figures

-32.0%1Y

-16.8%3Y

41.6%5Y

Performance

29.3%1Y

27.1%3Y

28.7%5Y

Volatility