Diluted HEPS EUR352.0cps (+4.89 y-y).
Revenue up +5.6% y-y, to EUR10.2bn (+12.0% at constant exchange rates).
Revenue growth was primarily driven by strong performance of the Asia Pacific region (+14% y-y, +23% y-y at constant exchange rates) and Jewellery Maisons (+9.6% y-y, +16% y-y at constant exchange rates).
GPM down 70bps to 68.2%.
Expense growth +9.5% y-y with expense to sales ratio increasing from 40.8% to 42.2%.
OPM decreased by 210bps to 26.0%.
No dividend.
Gross debt decreased to EUR3.3bn (1H23: EUR5.9bn) with net cash constant at EUR3.9bn.
Clearance obtained from all regulatory authorities on agreement with FARFETCH and Alabbar to sell a controlling interest in YNAP to create a neutral industry-wide platform.
On 28 July 2023, CFR signed an agreement with Gianvito Rossi to acquire a controlling stake in the Italian shoemaker. Transaction expected to be completed in the first half of 2024 calendar year.
