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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 3Q Feels Effect of Yellow Vests, China Trends Hold Up -- Earnings Review

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01/11/2019 | 11:03am EDT

By Cristina Roca



Switzerland's Compagnie Financiere de Richemont reported third-quarter sales on Friday before markets opened. Here's what we watched:



SALES RESULTS: The luxury-goods company posted third-quarter revenue of EUR3.92 billion, falling squarely in line with a consensus estimate provided by FactSet.

WHAT WE WATCHED:

-YELLOW VEST EFFECT: Richemont's sales in Europe dropped compared to the same period last year. The company said the "yellow vest" movement in France, which forced it to close stores on six consecutive Saturdays, was one of the reasons.

-CHINA SLOWS DOWN: Mainland China trends held up, posting double-digit growth, despite Deutsche Bank's concerns that waning demand for hard luxury would drag. However, sales in Hong Kong were weaker due to the strength of the Hong Kong dollar against the yuan. Overall, organic growth in Asia Pacific slowed to 10% from 17% in 1H.

-...BUT LOVES BLING: Sales at Richemont's jewelry brands grew organically by 8%--slightly slower than in 1H, when they grew by 9%. Bryan Garnier analysts note that the store closures in France were hurt sales in this category.

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

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Financials (€)
Sales 2019 13 833 M
EBIT 2019 2 128 M
Net income 2019 2 348 M
Finance 2019 2 792 M
Yield 2019 2,86%
P/E ratio 2019 14,23
P/E ratio 2020 20,08
EV / Sales 2019 2,24x
EV / Sales 2020 2,02x
Capitalization 33 756 M
Chart COMPAGNIE FINANCIÈRE RICHEMONT
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Compagnie Financière Richemont Technical Analysis Chart | MarketScreener
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Technical analysis trends COMPAGNIE FINANCIÈRE RICHE
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TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 72,9 €
Spread / Average Target 13%
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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