Five-year record
|
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
Summary income statement |
re-presented* |
||||
|
€m |
€m |
€m |
€m |
€m |
|
|
Sales |
11 013 |
13 989 |
14 238 |
13 144 |
19 181 |
|
Cost of sales |
(3 829) |
(5 344) |
(5 627) |
(5 283) |
(7 154) |
|
Gross profit |
7 184 |
8 645 |
8 611 |
7 861 |
12 027 |
|
Net operating expenses |
(5 340) |
(6 702) |
(7 093) |
(6 383) |
(8 637) |
|
Operating profit |
1 844 |
1 943 |
1 518 |
1 478 |
3 390 |
|
Net finance (costs)/income |
(150) |
(183) |
(337) |
25 |
(844) |
|
Share of post-tax results of equity-accounted investments |
(41) |
1 408 |
17 |
12 |
31 |
|
Profit before taxation |
1 653 |
3 168 |
1 198 |
1 515 |
2 577 |
|
Taxation |
(432) |
(381) |
(267) |
(226) |
(498) |
|
Profit for the year |
1 221 |
2 787 |
931 |
1 289 |
2 079 |
|
Gross profit margin |
65.2% |
61.8% |
60.5% |
59.8% |
62.7% |
|
Operating profit margin |
16.7% |
13.9% |
10.7% |
11.2% |
17.7% |
|
Sales by business area |
|||||
|
Jewellery Maisons |
6 452 |
7 083 |
7 217 |
7 459 |
11 083 |
|
Specialist Watchmakers |
2 714 |
2 980 |
2 859 |
2 247 |
3 435 |
|
Online Distributors |
- |
2 105 |
2 427 |
2 197 |
2 788 |
|
Other |
1 847 |
1 881 |
1 788 |
1 345 |
2 056 |
|
Eliminations |
- |
(60) |
(53) |
(104) |
(181) |
|
11 013 |
13 989 |
14 238 |
13 144 |
19 181 |
|
|
Sales by geographic region |
|||||
|
Asia Pacific |
4 352 |
5 243 |
4 992 |
5 937 |
7 820 |
|
Europe |
3 019 |
4 118 |
4 298 |
2 955 |
4 469 |
|
Americas |
1 806 |
2 551 |
2 806 |
2 388 |
4 268 |
|
Japan |
980 |
1 148 |
1 212 |
940 |
1 205 |
|
Middle East and Africa |
856 |
929 |
930 |
924 |
1 419 |
|
11 013 |
13 989 |
14 238 |
13 144 |
19 181 |
|
|
Sales by distribution channel |
|||||
|
Retail |
6 758 |
7 320 |
7 338 |
7 248 |
11 057 |
|
Wholesale and royalty income |
4 099 |
4 407 |
4 254 |
3 102 |
4 539 |
|
Online retail |
156 |
2 262 |
2 646 |
2 794 |
3 585 |
|
11 013 |
13 989 |
14 238 |
13 144 |
19 181 |
|
|
Sales by product line |
|||||
|
Jewellery |
4 537 |
5 061 |
5 205 |
5 553 |
8 338 |
|
Watches |
4 368 |
4 930 |
4 816 |
4 085 |
6 061 |
|
Leather goods |
780 |
1 402 |
1 415 |
1 129 |
1 562 |
|
Writing instruments |
394 |
414 |
383 |
308 |
417 |
|
Clothing and other |
934 |
2 182 |
2 419 |
2 069 |
2 803 |
|
11 013 |
13 989 |
14 238 |
13 144 |
19 181 |
|
* 2018 was re-presented to include royalty income received within total sales.
156 Richemont Annual Report and Accounts 2022
Five-year record
|
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
Operating results |
re-presented* |
re-presented** |
|||
|
€m |
€m |
€m |
€m |
€m |
|
|
Jewellery Maisons |
1 926 |
2 229 |
2 077 |
2 309 |
3 799 |
|
Specialist Watchmakers |
262 |
381 |
304 |
132 |
593 |
|
Online Distributors |
- |
(99) |
(241) |
(223) |
(210) |
|
Other |
(65) |
(95) |
(141) |
(214) |
(47) |
|
Operating contribution |
2 123 |
2 416 |
1 999 |
2 004 |
4 135 |
|
Elimination of internal transactions |
- |
2 |
(2) |
(6) |
(6) |
|
Impact of valuation adjustments on acquisition |
- |
(173) |
(196) |
(197) |
(173) |
|
Unallocated corporate costs |
(279) |
(302) |
(283) |
(323) |
(566) |
|
Operating profit |
1 844 |
1 943 |
1 518 |
1 478 |
3 390 |
|
Free cash flow |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Operating profit |
1 844 |
1 943 |
1 518 |
1 478 |
3 390 |
|
Depreciation, amortisation and other non-cash items |
645 |
918 |
1 606 |
1 554 |
1 703 |
|
Lease-related payments |
- |
- |
(660) |
(626) |
(696) |
|
Changes in working capital |
234 |
(530) |
(327) |
529 |
81 |
|
Other operating activities |
7 |
1 |
18 |
(30) |
(38) |
|
Taxation paid |
(346) |
(306) |
(373) |
(248) |
(434) |
|
Net acquisition of non-current assets |
(1 294) |
(880) |
(758) |
(867) |
(999) |
|
Free cash flow |
1 090 |
1 146 |
1 024 |
1 790 |
3 007 |
|
Net cash |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Cash at bank and on hand |
8 401 |
5 060 |
4 462 |
7 877 |
9 877 |
|
Investments in externally managed and money market funds |
5 057 |
4 528 |
4 362 |
5 550 |
6 632 |
|
Borrowings |
(4 292) |
(4 347) |
(3 952) |
(5 937) |
(5 949) |
|
Bank overdrafts |
(3 897) |
(2 713) |
(2 477) |
(4 097) |
(5 309) |
|
5 269 |
2 528 |
2 395 |
3 393 |
5 251 |
|
|
Per share information (IFRS) |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Diluted earnings per share |
€ 2.158 |
€ 4.927 |
€ 1.646 |
€ 2.296 |
€ 3.611 |
|
Headline earnings per share |
€ 2.373 |
€ 2.600 |
€ 1.742 |
€ 2.328 |
€ 3.762 |
|
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
Ordinary dividend per share |
CHF 1.90 |
CHF 2.00 |
CHF 1.00 |
CHF 2.00 |
CHF 2.25 |
|
Special dividend per share |
- |
- |
- |
- |
CHF 1.00 |
|
Closing market price: |
|||||
|
Highest price |
CHF 92.25 |
CHF 99.02 |
CHF 87.12 |
CHF 92.58 |
CHF 144.75 |
|
Lowest price |
CHF 77.50 |
CHF 60.92 |
CHF 49.40 |
CHF 49.96 |
CHF 92.10 |
|
Exchange rates |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Average rates |
|||||
|
€ : CHF |
1.1354 |
1.1463 |
1.0962 |
1.0759 |
1.0675 |
|
€ : CNY |
7.7446 |
7.7654 |
7.7379 |
7.8987 |
7.4599 |
|
€ : JPY |
129.66 |
128.34 |
120.81 |
123.68 |
130.50 |
|
€ : US$ |
1.1705 |
1.1578 |
1.1112 |
1.1667 |
1.1624 |
|
Average number of employees |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Switzerland |
8 214 |
8 434 |
7 867 |
7 882 |
7 974 |
|
Rest of the world |
20 526 |
27 206 |
26 861 |
26 878 |
27 879 |
|
28 740 |
35 640 |
34 728 |
34 760 |
35 853 |
* 2019 is re-presented to show the impact of valuation adjustments on acquisition separately.
** 2021 is re-presented as costs previously included with Other have been reclassified to unallocated corporate costs.
Richemont Annual Report and Accounts 2022 157
Five-year record
Statutory information
Compagnie Financière Richemont SA
|
Registered office |
Registrar |
Auditor |
|
50 chemin de la Chênaie |
Computershare Schweiz AG |
PricewaterhouseCoopers SA |
|
CP 30, 1293 Bellevue |
P.O. Box, 4601 Olten |
50 avenue Giuseppe-Motta |
|
Geneva |
Switzerland |
1202 Geneva |
|
Switzerland |
Tel: +41 (0) 62 205 7700 |
Switzerland |
|
Tel: +41 (0) 22 721 3500 |
Email: share.register@computershare.com |
|
|
Internet: www.richemont.com |
|
Secretariat contact |
Investor and Media contacts |
|
Swen H. Grundmann |
Sophie Cagnard |
|
Company Secretary |
Group Corporate Communications and IR |
|
Tel: +41 (0) 22 721 3500 |
Director |
|
Email: secretariat@cfrinfo.net |
James Fraser |
|
Investor Relations Executive |
|
|
Tel: +41 (0) 22 721 3003 (investor relations) |
|
|
Email: investor.relations@cfrinfo.net |
|
|
Tel: +41 (0) 22 721 3507 (press enquiries) |
|
|
Email: pressoffice@cfrinfo.net |
'A' shares and 'A' warrants issued by Compagnie Financière Richemont SA are listed and traded on the SIX Swiss Exchange, the Company's primary listing. 'A' shares (Reuters 'CFR.VX'/Bloomberg 'CFR:VX'/ISIN CH0210483332) are included in the Swiss Market Index ('SMI') of leading stocks. The Swiss 'Valorennummer' is 21048333. Richemont's 'A' shares are registered. The share register is managed by Computershare Schweiz AG, the registrar. 'A' warrants (SIX 'CFRAO'/ISIN CH0559601544) were issued as part of a shareholder loyalty scheme and can be exercised upon maturity in 2023 (subject to terms and conditions).
South African Depository Receipts ('DRs') in respect of Richemont 'A' shares and 'A' warrants are traded on the Johannesburg Stock Exchange operated by JSE Limited, the Company's secondary listing (Reuters 'CFRJ.J'/Bloomberg 'CFR:SJ'/ISIN CH0045159024 and CFRO ISIN CH0562931086).
Personal data processing
Shareholders are informed that the Company, as data controller, processes the personal data of the shareholders and proxyholders (name, address, contact details, number of shares held, voting instructions) in accordance with applicable data protection laws. The Company processes such personal data for share administration purposes and to facilitate the running of any relevant meetings. You have the right to ask for access to any information that we hold about you and to correct any inaccuracies. For further details on how we process your information and for details of who you can contact for further information or to exercise your rights, please refer to the Privacy Policy found at https://www.richemont.com/
158 Richemont Annual Report and Accounts 2022
Statutory information
Attachments
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Compagnie Financière Richemont SA published this content on 02 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2022 05:58:27 UTC.