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S T R E N G T H O F H E R M È S ’ C R A F T S M A N S H I P M O D E L I N A M O R E U N C E R T A I N C O N T E X T 2 A unique style >50,000 references 10 regional Écoles Hermès des savoir-faire in France 25,185 employees, of which 15,556 in France Exceptional bonus of €4,500 to all the employees worldwide More than 16,000 employee shareholders 55% of objects made in in-house and exclusive workshops 74% of objects produced in France 3 new leather goods workshops projects in France in 3 years >€600m of production investments over 3 years Balancing 293 stores in 45 countries with 2 new openings in Japan and 1 in the United States >10 expansions and renovations, including in Greater China, in the United States and in Japan Gradual integration of the Middle East R E V E N U E € 1 5 . 2 B I L L I O N +15% at constant exchange rates O P E R A T I N G I N V E S T M E N T S € 2 . 4 B I L L I O N over 3 years, of which 67% in France J O B C R E A T I O N > 9 , 0 0 0 over 5 years, of which around 6,000 in France E M P L O Y M E N T A N D R E S P O N S I B I L I T Y 2024 Full-Year Results A U D A C I O U S C R E A T I V I T Y A N D E X C E P T I O N A L S A V O I R - F A I R E E X C L U S I V E D I S T R I B U T I O N N E T W O R K V E R T I C A L I N T E G R A T I O N A N D L O C A L A N C H O R I N G
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B O L D C R E A T I O N • Enrichment of the leather goods collection with the models Haut à Courroies en selle, Della Cavalleria Élan and Arçon • Successful women’s and men’s ready-to-wear collections • Dynamic formats and designs of the silk collections • Successful launch of the new women’s perfume, Barénia • A warm welcome for the eighth collection of Haute Bijouterie, Les formes de la couleur • New table service, Tressages équestres • Launch of the Apple Watch series 10 42024 Full-Year Results
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D E V E L O P M E N T O F P R O D U C T I O N C A P A C I T I E S 52024 Full-Year Results • Opening of the 23rd leather goods workshop: › Riom (Puy-de-Dôme) in September • Three ongoing leather goods workshop projects over 3 years: › L’Isle-d’Espagnac (Charente), scheduled in 2025 › Loupes (Gironde), scheduled in 2026 › Charleville-Mézières (Ardennes), scheduled in 2027 • Strengthening of capacity investments in all the métiers, notably: › Expansion of the Hermès Perfume and Beauty site in Normandy › Beyrand site expansion project for Tableware • Strengthening of the supply chain and IT investments, and further securing supplies
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A N E X C L U S I V E A N D I N T E G R A T E D D I S T R I B U T I O N N E T W O R K 6 • Strengthening of the multi-local and omnichannel distribution network • Opening of new stores: › Princeton (United States) › Wuxi (China) › Tokyo Toranomon Azabudai and Ginza Mitsukoshi (Japan) • Expansion and renovation of stores, notably: › Lille, Nantes (France) and Naples (Italy) › Atlanta (United States) › Shenyang MixC, Shenzhen MixC and Beijing SKP (China), Takashimaya (Singapore) 2024 Full-Year Results
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S I N G U L A R C O M M U N I C A T I O N • Presenting Hermès in an authentic and unconventional manner: › Mystery at the Grooms’ in Shanghai › The Kiosque du Monde d’Hermès notably in Aspen, Barcelona, Shanghai and Tokyo › Hermès in the Making in Mexico City, Seoul and Zurich › On the Wings of Hermès in Singapore › Saut Hermès at the Grand Palais Éphémère in Paris › Heritage In Motion in Doha • Rediscovering the 16 métiers of the house: › Haute Bijouterie event, Les formes de la couleur, in Paris and Beijing › Men’s ready-to-wear show in Paris, Shanghai and Tokyo, and women’s ready-to-wear show in Paris and New York › petit h in Hong Kong and New York › Silk event, Brides de Galaxy, in Seoul 2024 Full-Year Results 7
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A S U S T A I N A B L E A N D R E S P O N S I B L E B U S I N E S S M O D E L 2024 Full-Year Results 9 P E O P L E A T T H E H E A R T O F O U R V A L U E S E N V I R O N M E N T A L S T R A T E G Y L O C A L A N C H O R I N G -63.7% of scopes 1 and 2 emissions in absolute terms vs 2018 -50.5% of scope 3 emissions in intensity vs 2018 97.9% of renewable electricity worldwide 48% of women in the top 100 with the highest levels of responsibility -65.4% of industrial water withdrawals over the past 10 years SBTN Pursuing the initiative and completing the first two stages 7.12% of employees with disabilities in France above the legal 6% threshold 4 Professional training certificates including 1 CAP in leather goods 60 Production and training sites in France +7,000 job creation in 3 years of which +4,300 in France Presence in 11 out of 13 French regions €351m of which €235m incentive schemes and profit-sharing (vs €207M in 2023) €4,500 exceptional bonus worldwide Creation of local jobs Transmission of savoir-fairePreservation of resourcesClimate commitmentCommitment to diversity and inclusion Sharing Value
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S O C I A L , S O C I E T A L A N D E N V I R O N M E N T A L P E R F O R M A N C E R E C O G N I S E D G L O B A L E V A L U A T I O N S AA B- 65/100 T H E M A T I C E V A L U A T I O N S « A List » Climate A / Water A- / Forest A Grand Prix Emploi 2024 for the 4th time Grand Prix for People with disabilities Grand Prix 102024 Full-Year Results * ISS ESG has been selected by Euronext as the new benchmark for the CAC 40 ESG from March 2025.
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A C T I V I T Y • Revenue in 2024 reached €15.2 billion (+15% at constant exchange rates and +13% at current exchange rates). • At the end of December 2024, all the regions posted growth and all the business lines except Watches showed solid momentum, supported by the house’s value strategy. • Sales in the fourth quarter amounted to €4 billion (+18% at constant exchange rates and current exchange rates). The Americas saw a strong performance, and the other geographical areas confirmed solid growth. 122024 Full-Year Results
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R E V E N U E B Y G E O G R A P H I C A L AREA 142024 Full-Year Results in €m 2024 Change at constant rates France 1,447 13% Europe (excl. France) 2,147 19% EUROPE 3,594 17% Japan 1,437 23% Asia-Pacific (excl. Japan) 6,648 7% ASIA 8,085 10% Americas 2,865 15% Other (Middle East) 627 110% TOTAL 15,170 15%
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R E V E N U E B Y G E O G R A P H I C A L AREA 15 France 10% / 9% Japan 9% / 10% Americas 19% / 19% Europe (excl. France) 14% / 13% Other (Middle East) 4% / 2% Asia-Pacific (excl. Japan) 44% / 47% 2024 Full-Year Results 2024 / 2023
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R E V E N U E B Y S E C T O R 172024 Full-Year Results in €m 2024 Change at constant rates Leather Goods and Saddlery 6,457 18% Ready-to-wear and Accessories 4,405 15% Silk and Textiles 950 4% Other Hermès sectors 1,909 17% Perfume and Beauty 535 9% Watches 577 (4)% Other products 337 9% TOTAL 15,170 15%
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R E V E N U E B Y S E C T O R 18 Other products 2% / 2%Perfume and Beauty 4% / 4% Leather Goods and Saddlery 43% / 41% Watches 4% / 5% Silk and Textiles 6% / 7% Ready-to-wear and Accessories 29% / 29% Other Hermès sectors 12% / 12% 2024 Full-Year Results 2024 / 2023
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C O N S O L I D A T E D I N C O M E S T A T E M E N T 212024 Full-Year Results in €m 2024 % revenue 2023 % revenue Revenue 15,170 13,427 Cost of sales (4,511) (3,720) Gross margin 10,660 70.3% 9,708 72.3% Communication (637) (4.2)% (607) (4.5)% Other sales and administrative expenses (2,932) (19.3)% (2,561) (19.1)% Other income and expenses (941) (6.2)% (889) (6.6)% Recurring operating income 6,150 40.5% 5,650 42.1% Other non-recurring income and expenses Operating income 6,150 40.5% 5,650 42.1% Change y-o-y +9%
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R E C U R R I N G O P E R A T I N G P R O F I T A B I L I T Y E V O L U T I O N in % of revenue 22 * Before IFRS16 2024 Full-Year Results
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23 C O N S O L I D A T E D I N C O M E S T A T E M E N T 2024 Full-Year Results in €m 2024 % revenue 2023 % revenue Operating income 6,150 40.5% 5,650 42.1% Net financial income 283 190 Income tax (1,845) (1,623) In % of income before tax 28.7% 27.8% Net income from associates 44 105 Non-controlling interests (28) (12) Net income attributable to owners of the parent 4,603 30.3% 4,311 32.1% Change y-o-y +7%
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N E T P R O F I T A B I L I T Y E V O L U T I O N 24 in % of revenue * 22.7% restated for the capital gain on the disposal of the Galleria in Hong Kong in 2018 ** 20.3% restated for a non-current gain relating to the deconsolidation of Shang Xia in 2020 2024 Full-Year Results
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4,119 4,841 5,202 5,549 5,966 6,883 6,389 8,982 11,602 13,427 15,170 859 973 1,100 1,221 1,405 1,528 1,385 2,445 3,367 4,311 4,603 0 1,000 2,000 3,000 4,000 5,000 6,000 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2,500 5,000 7,500 10,000 12,500 15,000 Revenue Net income group share S O L I D S A L E S A N D R E S U L T S I N 2 0 2 4 25 Net income CAGR over 10 years +18.3% Sales CAGR over 10 years +13.9% In €m In €m 2024 Full-Year Results
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O P E R A T I N G I N V E S T M E N T S 27 Stores and distribution €611 million Total €1,067 million Production and divisions €212 million Real estate and group projects €244 million 2024 Full-Year Results
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R E S T A T E D C A S H- F L O W S T A T E M E N T 282024 Full-Year Results in €m 2024 2023 Operating cash flows 5,378 5,123 Change in working capital (239) (794) Cash flows related to operating activities 5,139 4,328 Operating investments (1,067) (859) Repayment of lease liabilities (305) (277) Adjusted free cash flow 3,767 3,192 Financial investments (251) (316) Dividends paid (2,705) (1,386) Treasury share buybacks net of disposals (40) (132) Other changes 103 65 Change in net cash position 875 1,422 Closing restated net cash position 12,039 11,164 Opening restated net cash position 11,164 9,742
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Liabilities S I M P L I F I E D B A L A N C E S H E E T 30 Assets 23.1 2024 Full-Year Results Non-current assets Inventories Shareholders’ equity Non-current liabilities Current liabilities in €bn 20.5 23.1 Other current assets Cash 20.5
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E V O L U T I O N O F T H E D I V I D E N D P E R S H A R E 31 Exceptional dividend In € per share Ordinary dividend for the period In € per share * Subject to approval by the General Meeting of 30 April 2025, including €3.5 interim dividend paid on 19 February 2025 + €5.00 2024 Full-Year Results + €10.00 + €10.00
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O U T L O O K 33 • 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 a more complex economic and geopolitical context, the group has moved into 2025 with confidence, thanks to the highly integrated artisanal model, the balanced distribution network, the creativity of collections and the loyalty of clients. • Thanks to its unique business model, Hermès is pursuing its long-term development strategy based on creativity, maintaining control over know-how and singular communication. 2024 Full-Year Results
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• Continued job creation in France and worldwide, and dynamic social policy • Opening of the leather goods factory in L’Isle d’Espagnac (Charente) in April • Balanced development of the distribution network with new store openings and expansions, notably in Phoenix and Nashville in the United States, Seoul and Taipei in Asia, and Florence in Italy • Confirmation of strategic investments in production capacities in all the métiers and further upstream and downstream vertical integration • Amplification of actions in line with commitments to fight against climate change and to preserve natural resources • 15th edition of the Saut Hermès at the Grand Palais in Paris in March 2 0 2 5 : D R A W N T O C R A F T 342024 Full-Year Results Retour COM attendu pour le 5 fev
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