The Executive Management presented the audited accounts for 2012 to the Supervisory Board, reflecting revenue of €3,484 million (up 22.6%) and operating income of €1,119 million, (up 26.4%).
Sales by sector and region (at constant exchange rates, unless otherwise indicated)
Sales generated by the groups own stores advanced by 23% at current exchange rates and by 16% at constant exchange rates. In 2012, Hermès opened two new branches and renovated or enlarged twelve others.
Sales expanded across all regions
-Sales were stimulated by non-Japan Asia (up 25%). The network added two new branches in Taiwan and China and six other stores were renovated or expanded. Japan (up 7%) also contributed to this performance after a relatively stable year in 2011.
-Growth was impressive in Europe at 15%, with a positive contribution from nearly all countries, and in the Americas (up 14%), a region that is benefiting from the gradual extension of its network.
-Lastly, sales to travellers continued to trend up sharply throughout the world.
-All sectors delivered a handsome performance, underpinned by their multi-faceted expertise and ambitious designs.
In response to persistently strong demand, in 2012, Leather Goods and Saddlery (up 12%) opened two new workshops in France, in Charente and Isère.
-The Ready-to-wear and Accessories division (up 22%) benefited from the dynamism of the latter and from the inspiration of the ready-to-wear collections.
-New formats and the use of new colours and materials contributed to the growth of Silk & Textiles (up 16%).
-For Perfumes (up 14%), 2012 was a very good year. Terre d’Hermès joined the ranks of the great classics and two lines were enhanced by new launches, Voyage d’Hermès Parfum and L’Ambre des Merveilles .
-In Watches (up 17%), sales growth continued to run high in 2012, based on the development of “manufacture” lines.
-Other Hermès sectors (up 45%) registered an exceptional surge. Hermès jewellery was driven by the success of its creations and the presentation of its second Haute Bijouterie collection. The Art of Living sector continued to broaden the Hermès Maison range.
Highest operating margin since the initial public offering in 1993
-Operating income rose by 26.4% to €1,119 million from €885 million in 2011. The operating margin rose to 32.1% of sales, exceeding the all-time high achieved in 2011.
-Consolidated net income, group’s share, was €740 million, compared with €594 million in 2011. Restated for the capital gain of €29.5 million generated by the disposal of the equity stake in the Jean-Paul Gaultier group in 2011, growth was 31%.