Core Insights - The company reported solid sales growth in the third quarter, with sales reaching €3.9 billion, reflecting a 10% increase at constant exchange rates and a 5% increase at current exchange rates compared to the previous quarter [1] - Consolidated revenue for the group at the end of September 2025 was €11.9 billion, marking a 9% increase at constant exchange rates and a 6% increase at current exchange rates compared to the same period in 2024 [2] - The company maintains a positive outlook for medium-term revenue growth despite global economic uncertainties, supported by a strong artisanal model and customer loyalty [9] Sales Performance - Sales by geographical area showed growth across all regions, with notable performances in Asia excluding Japan (+4%), Japan (+15%), the Americas (+13%), and Europe excluding France (+12%) [5][13] - The Leather Goods and Saddlery sector achieved a remarkable growth of 13%, driven by strong demand for iconic products and new collections [4][15] - The Ready-to-wear and Accessories sector grew by 6%, with an acceleration noted in the third quarter [11][15] Sector Analysis - The Leather Goods and Saddlery sector reported sales of €5.3 billion, up 10.2% from the previous year [15] - The Ready-to-wear and Accessories sector saw sales of €3.4 billion, reflecting a 3.5% increase [15] - The Perfume and Beauty sector experienced a decline of 5.6%, attributed to a high comparison base from the previous year [11][15] Regional Highlights - In Asia excluding Japan, the region benefited from a value strategy and local client loyalty, with significant store renovations and expansions contributing to growth [5] - Japan's growth was sustained by local client loyalty, with a 15% increase in sales [5][13] - The Americas confirmed their momentum with a 13% increase, particularly driven by new store openings in the United States [5][13] Sustainable Practices - The company opened a new leather goods workshop in L'Isle-d'Espagnac, which will employ 260 artisans, reinforcing its commitment to local employment and high environmental standards [7]

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]