Key Areas ⁤Covered

This report provides ‌a comprehensive overview of financial performance adn related ‍data. Key areas​ include:

• Turnover⁣ and activity by geographic area (Page 36)
• comments on consolidated accounts (Page 40)
• Important events since the end of the⁢ exercise​ (Page 41)
• Perspectives (Page​ 42)
• Business Foundation (Page 44)

Social and Environmental ​Responsibility

The report details the company’s commitment​ to social, societal,​ and environmental responsibility, including:

• Sustainability information ⁤(Page 48)
• Information certification report on sustainability​ (Page 196)
• Duty⁤ of vigilance (Page 201)
• Correspondence tables and complementary information (Page 204)

Corporate Governance

An overview of corporate ⁣governance practices is provided, including:

• Corporate governance code ⁢(Page 225)
• Governance structure (Page ⁣229)
• Management‌ and management bodies (Page 232)
• Supervisory board institution and operation (Pages 243, ‌281)
• Specialized committees (Page 291)
• Evaluation of​ the supervisory board and committees (Page‍ 299)
• Remuneration and advantages of corporate agents (Page 302)
• Other relevant information (Pages 324, 330)

Consolidated Accounts

Detailed consolidated financial statements are presented:

• Consolidated income statement⁤ (Page 370)
• Consolidated overall result condition (page 370)
• Consolidated assessment (Page 371)
• State of variation in consolidated equity (Page 372)
• Consolidated cash flow condition (Page 373)
• Annex to consolidated accounts⁣ (page 374)
• Auditor’s report on consolidated accounts ‌(Page 413)

Corporate Financials

Individual corporate financial details are included:

• Restated account (Page 420)
• (Page 421)
• Variation of equity (Page 422)
• Table of cash flows (Page 422)
• annex ⁤to financial statements (Page‍ 423)
• Auditor’s report on annual accounts (Page⁤ 438)
• table of results for the last​ five years (Page 442)
• Information ​on payment deadlines (Page 443)
• Other information on social accounts (Page 444)

Company Information

Background and capital structure are outlined:

• Presentation⁤ of the company (Page 448)
• Information on capital and shareholding (Page 457)
• Dividends policy (page 469)
• Stock market information (Page 470)
• Shareholders’ information (Page 474)

General Meeting

Details regarding the upcoming general meeting are provided:

• Agenda (Page 480)
• Presentation of resolutions, reasons, and projects (Page 482)
• Supervisory Board report to the general Assembly (Page 520)
• Auditors’ ⁢reports (Page 522)

Risk Management

The‌ report addresses risk factors and management strategies:

• Risk factors (Page 334)
• Insurance and risk coverage policy⁢ (Page 357)
• Risk management, internal ‍control, and internal audit (Page⁣ 358)

Additional Information

Supplementary details are⁣ available:

• Persons responsible ‍for the registration document⁢ (Page 534)
• Accounts for ⁢accounts (Page 535)
• Consultation of regulatory information (Page‍ 535)
• information included by reference ⁢(Page ‌536)
• Concordance tables ⁤(Page 538)
• Glossary (Page 553)

Financial Highlights

Fourth-quarter sales reached €4.0 billion,⁢ up 18% at constant and current exchange rates, ⁢with solid growth across⁢ all regions, particularly in‌ the Americas.

According to Hermès, the results reflect the strength of the Hermès model and the agility ‍of it’s teams.

in ⁢2024, in a more uncertain economic and geopolitical context,⁤ the solid performance of the results‌ testifies to the ⁤strength of the‌ Hermès model ‍and the agility of its teams.

The company says ⁢it is preserving‌ its role​ as an employer and remaining ‌attached to⁣ its basic values of quality,‌ creativity, and know-how.

Regional Performance

All regions experienced growth in ⁢2024, with Hermès continuing to ‌develop its⁢ exclusive distribution network.

• Asia outside Japan: ⁢Achieved remarkable progression⁤ with a 7% increase, driven by solid sales across ⁤all countries in the area. The region grew 9% in the fourth quarter.
• Japan: Recorded sustained and regular⁤ growth‍ of⁣ 23%, ⁤attributed to ⁤the loyalty of local⁤ customers.
• Americas: Showed excellent progression with a⁣ 15% increase in​ 2024.
• Europe outside France and France: Recorded great performances with increases of 19% and 13% respectively, supported by ​robust demand from local customers and tourist flows.

performance by Business Line

Moast of ​the company’s ⁤business lines experienced solid​ growth, driven by the value strategy of⁤ the house, ‌with the exception of ​watchmaking.

• Leather⁣ Goods: ⁢ Achieved remarkable performance with an 18% increase,⁢ driven by increased production capacities and sustained demand.
• Clothing and Accessories: Continued its solid‍ dynamic with‌ a 15% increase, thanks to the success of ready-to-wear and shoes collections.
• Silk and Textiles: ⁤Benefited ⁣from the diversity ⁢of creations, materials, and formats‍ in both female and male collections, with a 4% increase.
• Perfumes and ​Beauty: Achieved great performance with a 9% increase.
• Watchmaking: Experienced a decrease of 4%.

Strategic Developments

Hermès continued ‌to expand its ⁤production capabilities with the opening of a new leather goods workshop in Riom, France, in ⁤September. ⁢The company plans⁢ to open ‍three more workshops in the coming years.

financial Performance

Hermès announced revenue‍ of €15.2 billion for 2024,a 15% increase⁤ at constant exchange rates compared to the previous year. The company’s ⁢financial site‍ presentation took ‍place on February 14, 2024.

Watchmaking also contributed to the positive results. The ‍launch ⁤of⁤ Hermès cut and the success of iconic⁤ lines like Hermès⁤ H08⁣ and​ Kelly ⁢drove ‌growth.

Other Hermès ⁤sectors, including jewelry, ⁤saw a 17% increase.⁢ The eighth high jewelry⁤ collection, Color⁣ Shapes, was presented in beijing ⁢in September, following its debut ‌in Paris⁤ in ⁣June.

Operating profit reached €6.2 billion, a ⁤9% increase from €5.7 billion in 2023. Despite exchange rate challenges, ‍operational profitability reached 40.5%, compared ⁣to 42.1% the previous year.

The group’s consolidated net profit share⁤ grew by 7%​ to €4.6⁤ billion, resulting in a net profitability of 30.3% against 32.1% the prior year.

Cash flow related to activity reached €5.1 billion, a⁤ 19% increase attributed to‌ lower working capital requirements. Adjusted ⁢available cash flow amounted to⁢ €3.8​ billion, compared to €3.2 ⁢billion ⁢the previous year, after accounting ⁤for operational investments​ of €1.1 billion and ​rent debt reimbursement.

After distributing​ an ordinary and exceptional dividend of ⁣€2.6 billion,net cash ⁣stood at €12.0 billion ⁢at ​the end of December 2024, compared to €11.2 billion in ‌2023.

Commitment to Employees and Sustainability

Hermès increased its workforce by ‍nearly 2,300 people, including approximately 1,300 in France. The group now employs over⁢ 25,000 people, with 15,556 based in France.Over the‌ past three years, the ‍company has added almost 7,600 ​jobs, with 60% of those in⁢ France. The company⁤ also emphasized its commitment to diversity ⁤and inclusion,with a direct employment rate of 7.12%‌ for ​people with disabilities in France.

As a responsible employer, Hermès distributed a bonus⁣ of €4,500 to all employees worldwide for 2024.The company⁤ is also expanding the⁢ Hermès school of know-how, which ‍has extended its training within 10 training schools in France.

Hermès continues​ to⁢ pursue its sustainability goals, ​aligning with ⁣its‍ 2030 objectives validated by the Science Based Target initiative ​(SBTI). as 2018, the⁤ company‌ has reduced emissions from scopes⁤ 1 and 2 by 63.7% in absolute value​ and⁤ scope 3 emissions by⁣ 50.5% in intensity.

The ⁣company’s⁢ commitment to sustainability ⁤was recognized with the Grand Prix all categories of Openness awards. The⁣ S&P rating agency increased⁤ its evaluation by 11 points, and Hermès was included⁤ in the⁤ CDP’s “A-List” for the second consecutive year.