GENEVA (dpa-AFX) – The jewelry and watch group Richemont clearly increased sales in the first half of the year. While jewelry sales increased, the watch sector weakened. Overall, the Geneva company performed significantly better operationally than analysts expected. In the first half of 2024/25 (at the end of September), sales rose by 5 percent to 10.6 billion euros compared to the previous year, as the group with luxury watch brands such as Piaget and IWC as well as jewelry manufacturers such as Cartier and Van Cleef & Arpels announced on Friday. Adjusted for currency effects, this results in an increase of 10 percent at group level.
The jewelry sector increased by 9 percent to 7.75 billion euros, while the watch business fell by 6 percent to 1.56 billion euros. Overall, the group has grown organically in all market regions except Japan, it said. Operating profit (EBIT) rose by 7 percent to 2.36 billion euros in the first half of the year, with the margin increasing by 0.3 percentage points to 22.2 percent. The bottom line was a profit from continuing operations of 1.8 billion euros. That was four percent more than a year before.
With the figures presented, which already exclude the online division sold at the end of April 2025, Richemont has exceeded analysts’ expectations. As usual, Richemont did not communicate an outlook for the remainder of the 2025/26 financial year./ys/mk/AWP/jha
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