Hermès International Société en commandite par actions (HERM:CA) Q2 2026 Earnings Call Transcript

SA Transcripts 161.32K Followers Follow Hermès International Société en commandite par actions ( HERM:CA ) Q2 2026 Earnings Call July 29, 2026 3:00 AM EDT Company Participants Axel Dumas - Executive Chairman & CEO Eric du Halgouët - Executive Vice President of Finance Conference Call Participants Luca Solca - Bernstein Institutional Services LLC, Research Division Edouard Aubin - Morgan Stanley, Research Division Charles-Louis Scotti - Kepler Cheuvreux, Research Division Jean Danjou - ODDO BHF Corporate & Markets, Research Division David Da Maia - CIC CIB, Research Division Melania Grippo - BNP Paribas, Research Division Ashley Wallace - BofA Securities, Research Division Zuzanna Pusz - UBS Investment Bank, Research Division Victoria Petrova - Barclays Bank PLC, Research Division Presentation Operator [Interpreted] Ladies and gentlemen, welcome to the financial results of Hermès for the first half of 2026. We're now going to hear from Axel Dumas, CEO of Hermès International; and Mr.Eric du Halgouët, Financial Director. Gentlemen, over to you. Axel Dumas Executive Chairman & CEO Thank you very much. Good morning, one and all. I'm very happy to present to you today the financial results of the first half of 2026. At the end of June 2026, Hermès has a solid dynamism with a revenue of EUR 8.2 billion, up 6% at constant exchange rate and up 2% at current exchange rate. Q2 at plus 7%, and marks a speed up compared to the first quarter. Operating margin is at plus 41%, very high level, and our available cash flow is up 18%. Hermès remained -- its course remains balanced, whilst staying true to our values. The renewed confidence of our clients and the exemplary commitment of our teams are the very foundation of this performance. I'd like to thank them. Our clients have turned up once again. They appreciate the creativity of our 16 divisions and the uncompromising quality of our objects in the first half of the year, Hermès continued to