Presentation[Interpreted] Ladies and gentlemen, welcome to the Q3 Analyst Conference for Hermès International. I now give the floor to Eric du Halgouët, CFO; and Antoine Riou, Head of Investor Relations. Gentlemen, over to you.Eric du HalgouëtExecutive Vice President of Finance [Interpreted] Thank you very much. Good morning, one and all. Thank you very much for joining us. In the third quarter, sales continued to grow and reached EUR 3.9 billion, up 10% at constant exchange rate, a slight improvement compa ...

Quarterly information report as at the end of September 2025 Continued solid sales growth in the third quarter(+10% at constant exchange rates and +5% at current exchange rates) Paris, 22 October 2025 In the third quarter, sales continued to grow and reached €3.9 billion, up 10% at constant exchange rates, a slight improvement compared to the second quarter, particularly in Europe, the Americas and Asia. The group’s consolidated revenue amounted to €11.9 billion at the end of September 2025, up 9% at const ...

Core Insights - The company reported consolidated revenue of €8 billion for the first half of 2025, reflecting an 8% increase at constant exchange rates and a 7% increase at current exchange rates compared to the same period in 2024 [1][16] - Recurring operating income reached €3.3 billion, representing 41.4% of sales, which is a 6% increase from €3.1 billion in the first half of 2024 [1][6] - The net profit attributable to the group was €2.2 billion, down from €2.4 billion in the first half of 2024, but up to €2.5 billion when excluding an exceptional contribution from large companies in France [7][16] Revenue Growth - Sales in the second quarter amounted to €3.9 billion, marking a 9% increase at constant exchange rates compared to the first quarter [2] - All geographical regions experienced growth, with notable increases in Japan (+16%), the Americas (+12%), and Europe excluding France (+13%) [5][24] Performance by Sector - The Leather Goods and Saddlery sector saw a solid growth of 12%, driven by increased production capacities and sustained demand [5][26] - The Ready-to-wear and Accessories sector grew by 6%, benefiting from successful new collections [5][26] - The Perfume and Beauty sector experienced a decline of 4%, while the Watches sector saw a decrease of 8% [5][26] Financial Position - Cash flow from operating activities reached €2.3 billion, a 4% increase, with adjusted free cash flow at €1.8 billion after operational investments and lease repayments [8] - The restated net cash position at the end of June 2025 was €10.7 billion, down from €12.0 billion at the end of December 2024 [8][18] Employment and Sustainability - The company increased its workforce by over 500 employees in the first half of 2025, with 300 new hires in France, bringing the total number of employees to 25,700 [9] - Hermès continues to focus on diversity and inclusion, with a direct employment rate of 7.90% for people with disabilities in France [10] Outlook - The company maintains an ambitious goal for revenue growth at constant exchange rates despite global economic uncertainties [13] - Hermès is committed to its long-term development strategy, emphasizing creativity and control over its know-how [14]