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Richemont Securities AG - Unaudited Sales Figures For The Financial Year ended
31 March 2005
Richemont Securities AG
(Incorporated in Switzerland)
(Registration CH-170.3.013.861-6)
JSE Code : RCH
ISIN: CH0013157380
PRESS RELEASE
UNAUDITED SALES FIGURES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2005
Richemont, the Swiss luxury goods group, announces unaudited sales for the year
ended 31 March 2005 of (Euro) Euro 3 717 million.
Total sales for the year were 10 per cent above the prior year at actual
exchange rates.
The positive sales trend seen in the pre-Christmas period continued during the
final quarter, although at a slightly lower growth rate due to more demanding
prior year comparative figures.
Both the Asia-Pacific and Americas regions contributed strongly to the growth
seen during the year, with Europe also showing growth over the twelve months of
10 per cent.
The Group`s jewellery Maisons, specialist watchmakers and writing instruments
manufacturers all contributed to the year`s double-digit growth.
Sales by geographic region for the year
March March Movement at
2005 2004 Constant Actual
(Euro) m (Euro) m rates rates
Europe 1 607 1 458 +10% +10%
Japan 642 625 +5% +3%
Asia-Pacific 766 637 +26% +20%
Americas 702 655 +14% +7%
3 717 3 375 +13% +10%
In Europe, sales increased by 10 per cent, with solid growth rates in major
markets, such as France and Italy, and in developing markets such as Russia and
the Middle East.
Overall, sales in Japan increased by 5 per cent at constant rates, with the
Group`s Jewellery Maisons, Cartier and Van Cleef & Arpels, reporting sales
growth of 4 per cent during the year.
The Asia-Pacific region reported a strong increase of 26 per cent in constant
currency terms for the year as a whole, the first quarter of the comparative
period having been adversely impacted by the SARS epidemic and consequent
decline in tourism. Adverse foreign exchange effects reduced this increase to 20
per cent at actual exchange rates.
Sales in the Americas grew by 14 per cent for the year at constant rates. The
Group`s Jewellery Maisons reported double-digit growth at constant rates, as did
the Group`s specialist watchmakers. At actual rates, growth for the year in the
region was limited to 7 per cent.
Sales by business area for the year
March March Movement at
2005 2004 Constant Actual
(Euro) m (Euro) m Rates Rates
Jewellery Maisons 1 956 1 808 +11% +8%
Specialist watchmakers 885 780 +16% +13%
Writing instrument
manufacturers 427 389 +13% +10%
Leather and accessories
maisons 265 258 +5% +3%
Other businesses 184 140 +33% +31%
3 717 3 375 +13% +10%
Sales of the Group`s Jewellery Maisons - Cartier and Van Cleef & Arpels - grew
by 8 per cent at actual exchange rates. Particularly strong growth was reported
in the Asia-Pacific region, with lower rates of increase in Europe and the
Americas. Cartier`s new products launched worldwide during the year contributed
significantly to the good performance.
The Group`s specialist watchmakers reported sales growth of 13 per cent at
actual exchange rates.
In terms of the Group`s writing instrument manufacturers, Montblanc reported
double-digit sales growth, benefiting from new product launches and a higher
level of sales through its own boutique network.
Within the leather and accessories segment, Alfred Dunhill`s sales in the United
States and Europe were somewhat lower as a consequence of boutique closures, but
were more than compensated by growth in Asian markets. Lancel`s sales, also
reported in this segment, were broadly in line with the prior year.
The strong performance in `Other businesses` reflected the particularly good
sales growth reported by Chloe.
At actual exchange rates, retail sales increased by 8 per cent to Euro 1 509
million. Wholesale sales at actual rates increased by 11 per cent to Euro 2 208
million.
The preliminary announcement of the Group`s audited results for the year ended
31 March 2005 will be released on 9 June 2005.
Richemont owns a portfolio of leading international brands including Cartier,
Van Cleef & Arpels, Montblanc, Alfred Dunhill and Lancel as well as the
prestigious watch manufacturers Jaeger-LeCoultre, Piaget, Baume & Mercier, IWC,
Vacheron Constantin, A. Lange & SGBPhne and Officine Panerai.
In addition to its luxury goods business, Richemont holds an 18.3 per cent
interest in the ordinary share capital of British American Tobacco.
Further enquiries:
Mr Alan Grieve
Director of Corporate Communications
Compagnie FinanciGBPre Richemont SA
Tel. +41 22 715 3736
Analysts` inquiries:
Ms Sophie Cagnard-Fabrici
Head of Investor Relations
Tel. +33 1 5818 2597
Compagnie Financiere Richemont SA
8 Boulevard James-Fazy CH-1201 Geneva Switzerland
Telephone +41 (0)22 715 3500 Telefax +41 (0)22 715 3550
www.richemont.com
26 April 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
CORPORATE FINANCE
