Core Points - The compensation policy for the Executive Chairmen of Hermes International has been disclosed in accordance with the Afep-Medef Corporate Governance Code, with details provided following the Board meeting [3][4] - The compensation policy was renewed for the 2026 financial year and will be submitted for approval at the Shareholders' General Meeting on April 17, 2026 [4] Fixed Compensation - The fixed compensation for 2026 was determined based on a 5% increase from the fixed remuneration for 2025, which reflects the variation in the Company's consolidated revenue [5] - Émile Hermès SAS' fixed compensation for 2026 is set at €996,990, while Mr. Axel Dumas' fixed compensation is set at €2,929,905 [6] Variable Compensation - The variable compensation for the 2025 financial year was evaluated based on the achievement of CSR criteria, which were fully met, accounting for 10% of the variable compensation [7] - The variable compensation for Émile Hermès SAS for 2025 is set at €2,478,332, and for Mr. Axel Dumas, it is set at €5,314,575, reflecting a 5.4% increase in the Company's consolidated net income before tax compared to 2024 [8] Approval Process - The payment of variable compensation is subject to shareholder approval at the General Meeting on April 17, 2026 [8] - The compensation items were reviewed and approved by the Management Board, CAG-CSR Committee, and Supervisory Board, ensuring compliance with statutory provisions and the articles of association [9][10]

Core Points - Hermès International publishes the total number of voting rights and shares comprising its share capital monthly, in accordance with French regulations [2] Group 1: Share Capital and Voting Rights - As of January 31, 2026, Hermès has 569,412 shares and a total of 259,062 theoretical voting rights, with 526,302 effective voting rights [3] - The number of effective voting rights has shown fluctuations over the months, with a peak of 810,005 effective voting rights recorded on September 30, 2025 [3] - The total number of theoretical voting rights has remained consistent at 259,062 since December 2025 [3][4] Group 2: Historical Data - The effective voting rights decreased from 612,915 in July 2023 to 526,892 in November 2023, indicating a downward trend [3] - The effective voting rights were at 473,191 in December 2022, showing a significant increase to 526,892 by November 2023 [4] - The data shows a consistent number of shares at 569,412 across the reported months, indicating stability in share capital [3][4]

Core Insights - The luxury market is increasingly driven by asset prices rather than GDP, with wealthier consumers in China and other regions showing resilience despite economic challenges [5][6][7] - Hermès has demonstrated strong performance, achieving near double-digit organic growth rates and outpacing competitors like Kering and LVMH [6][10][11] - The company is focusing on enhancing its brand equity and maintaining tight control over production and distribution, which supports its position in the ultra-luxury segment [10][13] Sales Performance - Hermès reported revenues of 4.09 billion euros for the fourth quarter, reflecting a 9.8 percent increase at constant currency [9] - The company outperformed analysts' expectations, which forecasted growth of 8.4 percent [10] - Sales in the Americas rose by 12.1 percent, while Asia outside Japan saw an 8.6 percent increase [20][23] Market Dynamics - The luxury market is experiencing uneven recovery, with Hermès positioned to capture growth while competitors face challenges [12][13] - The company is less dependent on tourism compared to peers, benefiting from a strong local customer base in Europe [21] - The dip in the crypto market has not yet affected luxury demand in the U.S., but it remains a potential concern [8] Product Categories - Leather goods were the primary growth driver, increasing by 14.6 percent, while the perfume and beauty category saw a decline of 14.6 percent [16] - The company plans to expand its beauty strategy, including a new skincare line, despite the current challenges in the fragrance segment [18] Strategic Initiatives - Hermès is focusing on enhancing existing stores rather than increasing the number of locations, with significant real estate investments planned [24][25] - The company has increased prices by 5 to 6 percent to cover rising production costs, reflecting higher raw material prices [14] Financial Overview - For the full year, Hermès reported revenues of 16 billion euros, a 9 percent increase at constant exchange rates, with net profit rising to 4.5 billion euros [26] - The strong euro impacted reported growth, reducing it to 5.5 percent despite hedging strategies [26]

Core Insights - The company achieved consolidated revenue of €16 billion in 2025, marking a 9% increase at constant exchange rates and a 5.5% increase at current exchange rates compared to 2024 [2] - Recurring operating income reached €6.6 billion, representing 41% of sales and a 7% increase from the previous year [9] - Net profit attributable to the group was €4.5 billion, up 5.5%, aligning with sales growth [10] Financial Performance - The fourth quarter sales amounted to €4.1 billion, reflecting a 10% increase at constant exchange rates [3] - Cash flow from operating activities was €5.4 billion, a 5% increase, with adjusted free cash flow reaching €3.9 billion after operational investments [11] - The net cash position at the end of December 2025 was €12.8 billion, up from €12.0 billion in 2024 [11] Geographical Performance - All geographical areas reported strong growth, with Japan (+14%), the Americas (+12%), and Europe (excluding France) (+11%) leading the way [7] - Asia excluding Japan saw a growth of 5%, with notable performances in Korea and Thailand due to store reopenings [7] Sector Performance - Leather Goods and Saddlery grew by 13%, driven by increased production capacities and new model introductions [6] - The Ready-to-wear and Accessories sector confirmed a 6% growth, while Perfume and Beauty experienced a decline of 8% [8] - Watches saw a slight decrease of 2%, but returned to growth in the second half of the year [8] Employment and Sustainability - The company increased its workforce by over 1,300, including 800 in France, bringing total employment to 26,494 [12] - Hermès announced a €120 gross monthly increase for all employees in France and a €3,000 bonus for all employees worldwide [13] - The company has made significant strides in sustainability, achieving a 69% reduction in emissions for scopes 1 and 2 since 2018 [14][16] Future Outlook - The company expresses confidence moving into 2026, aiming for ambitious revenue growth despite global uncertainties [19] - The focus remains on maintaining a unique business model centered on creativity and craftsmanship [20]

Core Insights - LVMH's fourth-quarter report led to a significant decline in its share price, falling 7.9% to 542.80 euros, resulting in a market capitalization of 269 billion euros [1] - The company reported a 5% decrease in sales for the fourth quarter and a 13% decline in net profits for the full year, totaling 10.9 billion euros [2] - The luxury sector, including other brands like Salvatore Ferragamo and Burberry, also experienced declines in share prices following LVMH's report [4] Company Performance - Bernard Arnault, CEO of LVMH, stated that the group achieved solid results despite a challenging economic environment [2] - Analysts noted that LVMH's results were broadly in line with expectations, but the future remains uncertain due to cautious commentary and mixed macroeconomic data [5] - Luca Solca from Bernstein highlighted that while LVMH's core brands like Louis Vuitton and Dior performed well creatively, overall global demand was weak, particularly among aspirational consumers [6] Market Reaction - Following LVMH's report, shares of other luxury brands also fell, indicating a broader concern in the high-end fashion market [4] - Analysts expressed that the recovery in demand may be delayed, although marketing investments and new creative directions could support relative performance [5] - The lack of reassuring guidance from LVMH contrasts with previous years, reflecting a more cautious outlook for the luxury sector [6]

Core Viewpoint - Hermès International regularly publishes the total number of voting rights and shares comprising its share capital, in compliance with French regulations, ensuring transparency for shareholders and the market [2]. Group 1: Share Capital and Voting Rights - As of December 31, 2025, Hermès has a total of 105 million shares, with 569,412 shares comprising the share capital [3]. - The total number of theoretical voting rights, including treasury stock, is 250,591 as of December 31, 2025 [3]. - The effective voting rights exercisable at shareholders' meetings amount to 178,517,494 as of December 31, 2025 [3]. Group 2: Historical Data - The total number of theoretical voting rights has shown fluctuations over the months, with a peak of 638,491 in September 2022 [4]. - The effective voting rights have also varied, with a notable count of 758,072 as of December 31, 2021 [4]. - The data indicates a general trend of increasing effective voting rights from early 2022 to late 2025, reflecting potential growth in shareholder engagement [4].

Core Viewpoint - Hermès International regularly publishes the total number of voting rights and shares comprising its share capital, in compliance with French regulations, ensuring transparency for shareholders and the market [2]. Group 1: Share Capital and Voting Rights - As of December 31, 2025, Hermès has a total of 105 million shares, with 569,412 shares comprising the share capital [3]. - The total number of theoretical voting rights, including treasury stock, was reported as 250,591 on December 31, 2025 [3]. - The effective voting rights exercisable at shareholders' meetings stood at 178,517,494 on December 31, 2025 [3]. Group 2: Historical Data - The total number of theoretical voting rights has shown fluctuations over the months, with a peak of 550,181 in July 2025 and a low of 116,106 in March 2024 [3][4]. - The effective voting rights have also varied, with the highest recorded at 818,530 in June 2025 and the lowest at 234,253 in May 2023 [3][4]. - The publication dates for these reports are consistently scheduled, typically occurring within the first half of the following month [2].

Core Insights - The liquidity contract between Hermès International and BNP Paribas shows a significant amount of outstanding means as of December 31, 2025, totaling €15,708,069 and 4,618 shares [1] - The trading activity in the second half of the year included 73,749 shares bought across 2,816 transactions, amounting to €159,697,360, while 72,547 shares were sold in 3,444 transactions for €157,514,941 [1] - Compared to the first half of 2025, there was a decrease in outstanding means, which were €17,719,592 and 3,416 shares as of June 30, 2025 [1] Summary of Trading Activity - In the second half of 2025, total buy transactions were 73,749 shares, while sell transactions were 72,547 shares [1] - In the first half of 2025, total buy transactions were higher at 87,824 shares, with sell transactions at 85,073 shares [1] - The total value of buy transactions in the second half of 2025 was €159,697,360, while the sell transactions totaled €157,514,941 [1] Historical Context - The first application of the AMF 2021-01 decision on July 1, 2021, recorded outstanding means of 496 shares and €18,278,671 [1] - The first application of the AMF 2018-01 decision on December 31, 2018, showed outstanding means of 9,166 shares and €10,762,173 [1]

Core Points - Hermès International publishes the total number of voting rights and shares comprising its share capital monthly, in accordance with French regulations [2] Group 1: Voting Rights and Shares Data - As of November 30, 2025, the total number of shares is 569,412, with 251,011 theoretical voting rights, and 517,720 effective voting rights [3] - The total number of theoretical voting rights has shown a slight decrease from 251,764 on October 31, 2025, to 251,011 on November 30, 2025 [3] - Effective voting rights decreased from 518,628 on October 31, 2025, to 517,720 on November 30, 2025 [3] Group 2: Historical Data - The total number of shares has remained constant at 569,412 since at least January 2022 [4] - The effective voting rights have fluctuated over the months, with a peak of 758,072 recorded on December 31, 2021 [4] - The effective voting rights have generally shown a downward trend from 582,188 on August 31, 2023, to 517,720 on November 30, 2025 [3][4]

Core Points - Hermès International publishes the total number of voting rights and shares comprising its share capital monthly, in accordance with French regulations [2] Summary by Category Voting Rights and Shares - As of October 31, 2025, Hermès has a total of 569,412 shares and 178,518,628 effective voting rights [3] - The total number of theoretical voting rights, including treasury stock, is 251,764 as of the same date [3] - The effective voting rights have shown slight fluctuations over the months, with a peak of 550,545 in June 2025 and a low of 265,655 in May 2023 [3][4] Historical Data - The total number of shares has remained constant at 569,412 since at least December 2021 [4] - Effective voting rights have varied, with notable figures such as 473,191 in December 2022 and 368,728 in October 2023 [4] - The data indicates a general trend of stability in the number of shares, while effective voting rights have experienced more variability [3][4]