Richemont reports stronger-than‑expected first‑half results
The Swiss luxury‑goods group Compagnie Financière Richemont SA announced on 14 November that its financial performance for the six‑month period ending 30 September 2025 exceeded analyst expectations. The company highlighted robust sales growth in its jewellery segment while noting a slight slowdown in its watch division. Overall operating results were better than projected, according to the company’s interim announcement.
Key highlights
| Metric | First half 2025 | Consensus | Result |
|---|---|---|---|
| Net sales | Up (exact percentage not disclosed) | Lower than forecast | Beat |
| Jewellery sales | Increased | – | Positive |
| Watch sales | Decreased | – | Weakening |
| Operating performance | Significantly better | – | Beat |
The company’s chairman underscored the strong sales momentum in the second quarter, stating that the results support Richemont’s strategic focus on premium segments and global expansion. No specific guidance for the full year was provided in the interim communication.
Market reaction
- The Swiss Market Index (SMI) closed 0.25 % lower on 13 November, reflecting a general market pullback.
- In Zürich, the SMI ended the day 0.72 % higher on 12 November, indicating a temporary rebound.
- European indices such as the STOXX 50 posted gains on 12 November, while the Swiss League Index (SLI) also finished in the green that day.
Richemont’s share price was trading at CHF 161.50 on 12 November, well below its 52‑week high of CHF 187.55 (set on 13 February 2025) and above its 52‑week low of CHF 116.15 (recorded on 20 November 2024). The company’s market capitalization stands at approximately CHF 96.13 billion, with a price‑to‑earnings ratio of 27.6.
Contextual factors
The broader market environment showed a mixed performance: while European indices gained, the Swiss market experienced slight declines. This backdrop suggests that Richemont’s positive first‑half results were a notable contributor to the company’s standing within the luxury goods sector, even as overall market sentiment fluctuated.
Summary
Richemont’s first‑half performance exceeded expectations, driven primarily by jewellery sales, despite a decline in the watch segment. The company’s interim results, combined with a cautiously optimistic market reaction, indicate resilience in the luxury sector amid a generally volatile European equity landscape.
