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CHANEL CHANEL LIMITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 London , 15 June 2021 KEY FINANCIAL HIGHLIGHTS ■ ■ ■ 2020 results demonstrate resilient performance in the face of the Covid - 19 pandemic , underlining the strength of the CHANEL brand Revenue of $ 10.1 billion , down 18 % compared to 2019 on a comparable basis at constant currency Operating profit of $ 2,049 million , down 41.4 % compared to 2019 Positive net cash balance at the end of the year , reflecting Chanel's financial discipline and trading recovery in the second half Investment of $ 1,360 million in brand support activities Record level of capital expenditure at $ 1,120 million , representing 11.1 % of sales , demonstrating Chanel's commitment to long - term value creation and confidence in the company's financial strength Free cash flow of $ 679 million , down 70 % compared to 2019 KEY SUSTAINABILITY HIGHLIGHTS " Chanel launched in March 2020 , its commitment to tackle climate change through CHANEL Mission 1.5 ° , in line with the targets of the 2015 Paris Climate Agreement Chanel's progress against its science - based targets compared with 2019 was : о A decrease in total scope 1 and scope 2 GHG emissions by 27.1 % A decrease in scope 3 GHG emissions by 24.9 % 70 % of electricity from renewable sources ( vs 50 % in 2019 ) In September 2020 , Chanel raised € 600 million through the issuance of Sustainability Linked Bonds , diversifying its sources of funding while underlining its commitment to sustainability at the heart of its business strategy Philippe Blondiaux , Global Chief Financial Officer , commented : " The strength of the CHANEL brand was clearly demonstrated in 2020 as the business delivered a resilient financial performance in what was a very challenging period for our employees , our partners and for the business itself . " Chanel's focus on creativity and innovation , unique savoir - faire and the agility of our teams and our organisation , helped to limit the impact of the crisis . At the same time , Chanel has continued to prioritise investment to support the long - term health of the brand , with record levels of capital expenditure through the year . " In keeping with our long - term approach and commitment to sustainable business , we also launched our strategy to tackle climate change through CHANEL Mission 1.5 ° . The business has made early progress against the science - based targets we have set , as we look to accelerate the move to a lower carbon economy and help protect the world's most vulnerable communities and ecosystems from the impacts of climate change . "