Group Highlights - Richemont reported a robust performance for the financial year ended 31 March 2025, with group sales increasing by 4% to €21.4 billion [7][25] - The company experienced double-digit growth across all regions except for Asia Pacific, with notable increases in Europe (+10%), the Americas (+16%), Japan (+25%), and the Middle East & Africa (+15%) [8][25] - Direct-to-client sales accounted for 76% of group sales, driven by both retail and online channels [8] Financial Highlights - Total sales reached €21.4 billion, with Q4 sales up 8% (+7% at constant exchange rates) [5] - Operating profit decreased by 7% to €4.5 billion, resulting in an operating margin of 20.9% [5][12] - Profit for the year from continuing operations was €3.8 billion, down 1%, while the overall profit for the year amounted to €2.8 billion, up 17% after accounting for a €1.0 billion loss from discontinued operations [12][21] Segment Performance - Jewellery Maisons, including brands like Cartier and Van Cleef & Arpels, saw sales increase by 8% to €15.3 billion, with an operating margin of 31.9% [9][10] - Specialist Watchmakers reported a 13% decline in sales, leading to a 5.3% operating margin, primarily due to demand weakness in China [10][11] - The 'Other' business area achieved sales of €2.8 billion, up 7%, but reported an operating loss of €102 million, resulting in a margin of -3.7% [11][12] Strategic Developments - The company completed the acquisition of Italian jewellery Maison Vhernier and strengthened its leadership team with new appointments, including a Group CEO and Chief People Officer [5][16] - Richemont sold YOOX NET-A-PORTER (YNAP) to Mytheresa, retaining a 33% stake in the newly formed LuxExperience [19][20] - The Board proposed a dividend increase to CHF 3.00 per 'A' share, reflecting a 9% increase over the prior year [21] Cash Position - Richemont maintained a strong net cash position of €8.3 billion at year-end, supported by €4.4 billion cash flow generated from operating activities [5][13]