The revenues of the French luxury goods group Hermès totaled €6,389 million in 2020, a decrease of 6 percent at constant exchange rates and 7 percent at current rates. Revenues returned to growth in the second half after being hit by the Covid-19 pandemic, with an acceleration in the fourth quarter, up by 16 percent year-over-year at constant currency rates.
Sales of the leathergoods and saddlery business reached €3,209 million in the full year, down by 5 percent in local currencies and by 6 percent on a reported basis. In the fourth quarter, the division’s revenues rose by 18 percent at constant currency rates.
The group’s recurring operating income fell by 15 percent in 2020 to €1,981 million. With the inclusion of a one-off gain of €91 million related to the deconsolidation of Shang Xia, the operating income amounted to €2,073 million, it said.
The full-year net profit slumped by 9 percent to €1,385 million. Hermès plans to pay a full year dividend of €4.55 per share.