French Luxury Goods Label Hermes Posts 23% Revenue Growth in Q4

Author: Shivani Kumaresan | February 17, 2023 08:28am

Hermès International SA (OTC:HESAF) reported fourth-quarter FY22 revenue of €2.99 billion, an increase of 26% at current exchange rates and 23% at constant exchange rates.
Ready-to-wear and accessories led the revenue growth by garnering a 29.7% jump, followed by a 25.3% increase in Leather Goods and Saddlery, at constant exchange rates.
The company said it created 2,100 new jobs in FY22.
At the General Meeting to be held on April 20, 2023, the company plans to make a dividend proposal of €13.00 per share.
The €3.50 interim dividend, paid on February 22, 2023, will be deducted from the dividend approved by the General Meeting.
Hermès posts a 38% increase in net profit for FY22 to €3.4 billion.
Outlook: In the medium term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.
"In 2022, Hermès had an exceptional year thanks notably to the good performance of its international markets," said Executive Chairman Axel Dumas.
Price Action: HESAF shares closed higher by 0.13% at $1,844.40 on Thursday.
Photo Via Company