The jewelry and clock concentration of Richemont increased its sales in the past financial year. While the jewelry business was added, the clock sale continued to decline, as the company announced with brands like Cartier and IWC on Friday in Geneva. Without the online division YNAP sold, sales rose by 4 percent to 21.4 billion euros in the financial year by the end of March.
The operating profit margin, however, shrank by 2.4 percentage points to 20.9 percent. Analysts had expected half a percentage point more at 21.4 percent.
The burden of the sale of YNAP was 1.0 billion lower than the initially announced 1.3 billion euros, it continued. After a long search, Richemont had announced in early October to sell Ynap to Mytheresa. The transaction was now completed at the end of April.
The bottom line was that without a ynap, there was a surplus of almost 3.8 billion euros, one percent less than a year earlier. With YNAP it was 2.75 billion (+17 percent). With this, the company exceeded the expectations of analyst: in the inside.
The shareholders: inside should receive a dividend of CHF 3.00 per audience share (A-share). In the previous year, Richemont paid CHF 2.75 per title.