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    RMS   FR0000052292

HERMÈS INTERNATIONAL

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Hermes 3Q Revenue Surged on China Sales, Europe Tourism Rebound

10/21/2021 | 12:38am EST

By Joshua Kirby

Hermes International SCA's revenue rose strongly in the third quarter, driven by sales in Greater China and the return of tourists to European cities.

The French luxury-fashion company on Thursday posted revenue of 2.37 billion euros ($2.76 billion) in the quarter, an increase of 31% at constant currency from the EUR1.8 billion it booked in the same period last year, and 40% higher over two years.

Analysts had expected sales of EUR2.24 billion, according to a consensus of three estimates provided by FactSet.

Hermes's best performance was in Asia excluding Japan, where sales were 67% higher than in the third quarter of 2019. This was aided by "remarkable" performance in Greater China, the company said.

In Europe, sales were 23% higher over two years thanks to the partial return of tourists and store renovations in Milan and Paris, Hermes said.

The result compares favorably to rival LVMH Moet Hennessy Louis Vuitton SE's own fashion division, which posted a 38% increase over two years at the group's third-quarter update last week.

Nevertheless, Hermes's pace of growth could falter in the year's final quarter as demand runs ahead of production capacity for the Parisian group, analysts at Stifel said in a recent research note.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

10-21-21 0238ET

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Analyst Recommendations on HERMÈS INTERNATIONAL
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Financials
Sales 2021 8 936 M 10 109 M 10 109 M
Net income 2021 2 310 M 2 614 M 2 614 M
Net cash 2021 5 706 M 6 456 M 6 456 M
P/E ratio 2021 72,6x
Yield 2021 0,43%
Capitalization 168 B 190 B 190 B
EV / Sales 2021 18,2x
EV / Sales 2022 16,1x
Nbr of Employees 16 966
Free-Float 32,3%
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Technical analysis trends HERMÈS INTERNATIONAL
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 1 606,50 €
Average target price 1 345,84 €
Spread / Average Target -16,2%
EPS Revisions
Managers and Directors
Axel Dumas Co-Executive Chairman-Management Board
Henri-Louis Bauer Co-Executive Chairman-Management Board
Éric Marie Joseph du Halgouët Executive Vice President-Finance
Éric de Seynes Chairman-Supervisory Board
Nicolas Faure Operations Director
Sector and Competitors