The cost of the company's sales increased to 4,511 million euros, which resulted in a gross margin of € 10,660 million, compared to 9,708 million euros the previous year. Sales and administrative expenses increased to € 3,569 million, while other revenues and expenses amounted to € 942 million, which led to a recurring operational income of € 6,150 million, compared to 5,650 million euros in 2023, said Hermes in A press release.
Hermès has reported an income of € 15.2 billion (~ $ 15.95 billion) in 2024, 15 percent more constantly and 13 percent to current exchange rates. The recurring operational income was € 6.2 billion (~ $ 6.50 billion), with net profits of € 4.6 billion (30.3 percent of sales). Europe grew 16.2 percent, Asia 7.3 percent and America of 14.5 percent. Its sales of the fourth quarter increased 18 percent to € 4.0 billion (~ $ 4.2 billion).
The net financial income improved € 283 million 190 million, which resulted in a net income before taxes of € 6,432 million. Income tax expenditure increased to 1,845 million euros, compared to € 1,623 million in the previous year. Basic profits per action (EPS) increased to € 43.93, while action diluted by action increased to € 43.87, compared to € 41.19 and € 41.12 in 2023, respectively.
By geography, the company's revenues in Europe increased by 16.2 percent to € 3,594 million (~ $ 3,771 million), with France contributing to € 1,447 million (13.5 percent more), while the rest From Europe it registered a growth of 18.1 percent to € 2,147 million. Japan experienced an increase of 14.0 percent to € 1,437 million, with a remarkable increase of 22.5 percent to constant change rates.
The Asia-Pacific region (excluding Japan) grew by 6 percent to 6,648 million euros, reaching a 7.4 percent increase to constant change rates, which raises the total revenues of Asia to € 8,085 million, an increase of 7.3 percent. The Americas registered a growth of 14.5 percent, with income reaching € 2,865 million, while the Middle East region saw the most significant increase, increasing 109.7 percent to € 627 million.
Segment in terms of segment, leather and Sadler articles remained the largest taxpayer, generating € 6,457 million, which reflects an increase of 16.4 percent since 2023 and an 18.3 percent increase to constant change rates. Accessories and accessories ready for an income of € 4,405 million, 13.6 percent and 15.4 percent at constant exchange rates. The silk and textile segment saw a modest growth, reaching 950 million euros, an increase of 1.9 percent (3.8 percent at constant change rates).
“In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermès model and the agility of the houses of the house, whom I want hotly. While preserving the main balances of the group and their responsibility as an employer, the house remains in the course, attached more than ever to its fundamental values of quality, creativity and savoir-faire, “he said Axel Dumas, Executive President of Hermes.
Fourth quarter (fourth quarter)
Hermes, in his fourth quarter (Q4), accumulated sales of € 4.0 billion (~ $ 4.2 billion), increasing by 18 percent to constant and current exchange rates. Europe's revenues grew by 16.9 percent to € 994 million in the fourth quarter, with France contributing 401 million euros (11.8 percent more), while the rest of Europe saw an increase in the 20.6 percent to 593 million euros. Japan registered an increase of 19.7 percent, reaching 384 million euros, with an even stronger increase of 22.4 percent to constant change rates. The Asia-Pacific region (excluding Japan) generated € 1,543 million, growing by 10.1 percent, raised by total income from Asia to € 1,927 million, 11.9 percent more.
The Americas had energetic performance, with an increase in income by 21.4 percent to 870 million euros, while the Middle East recorded the most significant increase, with more than duplicate revenues to € 171 million, which reflects an increase of 125.2 percent.
Fiber2Fashion News Desk (SG)
