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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Compagnie Financière Richemont    CFR   CH0210483332

COMPAGNIE FINANCIÈRE RICHEMONT

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Compagnie Financiere Richemont : Richemont 1st Half Net Profit Soared on One-Time Gain

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11/09/2018 | 01:41am EDT

By Cristina Roca

Compagnie Financiere Richemont SA (CFR.EB) said Friday that net profit soared in the first half of fiscal 2019 on the back of a one-off gain from the revaluation of YNAP shares.

Richemont's first-half net profit rose to 2.25 billion euros ($2.57 billion) from EUR974 million during the same period last year.

The Swiss luxury company said its profit increase reflects a EUR1.38 billion gain on the revaluation of existing shares of the YNAP business, which it acquired earlier this year. Excluding this, profit for the period was EUR875 million, down 10% on year, the company said.

Richemont, known for its Cartier and Piaget brands, said revenue for the first six months rose 21% to EUR6.81 billion thanks to growth in all its business areas. This represents 24% growth on a constant-exchange basis, the company said.

The online-distributors division, which comprises the YNAP and Watchfinder businesses, had sales of EUR893 million in the first half and recorded a EUR115 million loss, which Richemont said was mostly due to the amortization of intangible assets.

Write to Cristina Roca at cristina.roca@dowjones.com

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Financials (€)
Sales 2019 13 867 M
EBIT 2019 2 117 M
Net income 2019 2 364 M
Finance 2019 2 784 M
Yield 2019 2,78%
P/E ratio 2019 15,19
P/E ratio 2020 20,79
EV / Sales 2019 2,32x
EV / Sales 2020 2,09x
Capitalization 34 936 M
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Technical analysis trends COMPAGNIE FINANCIÈRE RICHE
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 27
Average target price 72,3 €
Spread / Average Target 8,2%
EPS Revisions
Managers
NameTitle
Jérôme Lambert Group Chief Executive Officer, COO & Director
Johann Peter Rupert Executive Chairman
Burkhart Grund Chief Financial Officer & Director
Alan Grant Quasha Non-Executive Director
Jan Rupert Non-Executive Director
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