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Hermès H2 profit climbs 18.9% YOY

Hermès International Société en commandite par actions said its normalized net income for the second half was €4.74 per share, a gain of 18.7% from €4.00 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €498.7 million, an increase of 18.9% from €419.5 million in the year-earlier period.

Total revenue rose 14.9% on an annual basis to €2.54 billion from €2.21 billion, and total operating expenses rose 13.0% from the prior-year period to €1.73 billion from €1.53 billion.

Reported net income increased 10.0% on an annual basis to €490.8 million, or €4.67 per share, from €446.1 million, or €4.25 per share.

For the year, the company's normalized net income totaled €9.11 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €9.50.

EPS rose 18.5% from €7.69 in the prior year.

Normalized net income was €957.6 million, a gain of 18.8% from €805.8 million in the prior year.

Full-year total revenue increased 17.5% year over year to €4.84 billion from €4.12 billion, and total operating expenses increased 16.5% on an annual basis to €3.27 billion from €2.81 billion.

The company said reported net income increased 13.4% on an annual basis to €973.1 million, or €9.26 per share, in the full year, from €858.5 million, or €8.19 per share.