Get to know your companies: RICHEMONT (SWX: CFR)

On 21 May 2021, Richemont released its annual results for the year ended 31 March 2021. Richemont increased profits by 38.45% to EUR 1.289bn (2020: EUR 931mil), beating consensus estimates of EUR 821mil. The Jewellery Maisons division was the group’s stand-out performer, contributing 56.75% to the group’s total revenue for the reporting period, and reporting a 3% increase in sales to EUR 7.459bn (2020: EUR 7.217bn), exceeding pre-Covid levels.

Richemont boasts a robust balance sheet with a significant 41.67% increase in the company’s net cash position to EUR 3.392bn (2020: EUR 2.395bn).

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