FY24
ANNUALRESULTS
31 MARCH 2024

Certain of the matters discussed in this document about our and our subsidiaries’ future performance, including, without limitation, store openings and closings, productintroductions, sales, sales growth, sales trends, store traffic, Richemont's strategy and initiatives and the pace of execution thereon, Richemont’s objectives to compete in
the global luxury market and to improve financial performance, retail prices, gross margin, operating margin, expenses, interest expense and financing costs, effective tax
rate, net earnings and net earnings per share, share count, inventories, capital expenditures, cash flow, liquidity, currency translation, macroeconomic conditions, growth
opportunities, litigation outcomes and recovery related thereto, contributions to Richemont pension plans, certain ongoing or planned real estate, product, marketing,retail, customer experience, manufacturing, supply chain, information systems development, upgrades and replacement, and other operational and strategic initiatives, andall other statements that are not purely historical, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are
based on management’s beliefs as well as assumptions made by, and information currently available to, management. When used herein, the words “may”, “should”,“estimate”, “project”, “plan”, “believe”, “expect”, “anticipate”, “intend”, “potential”, “goal”, “strategy”, “target”, “will”, “seek” and variations of such words and similar
expressions are intended to identify forward-looking statements.
Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Our retail stores are heavily dependent on the ability
and desire of consumers to travel and shop and a decline in consumer traffic could have a negative effect on our comparable store sales and/or average sales per squarefoot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition.
Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including
disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers' desire to travel to our
retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials,
whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. Other factors that could cause
actual results to differ materially from those contemplated in any forward-looking statements may include, but are not limited to: economic, geo-political, capital markets
and business conditions, trends and events around the world and in the markets in which Richemont operates; changes in interest and foreign currency exchange rates, andchanges in currency control laws; changes in taxation policies and regulations; the possibility of the imposition of new taxes on imports and exports and new tariffs andtrade restrictions and changes in tariff rates and trade restrictions; shifting tourism trends; regional instability; violence (including terrorist activities); cybersecurity eventsaffecting Richemont and related costs and impact of any disruption in business; political activities or events; weather conditions that may affect local and tourist consumer
spending; consumer confidence, disposable income, credit availability, spending levels, shopping patterns, debt levels, and demand for certain merchandise; trends inconsumer shopping habits around the world and in the markets in which Richemont operates; shifts in Richemont's product and geographic sales mix; variations in the costand availability of diamonds, gemstones and precious metals; adverse publicity regarding Richemont and its products, Richemont’s third-party vendors or the diamond or
jewellery industry more generally; any non-compliance by third-party vendors and suppliers with Richemont’s sourcing and quality standards, codes of conduct, or
contractual requirements, as well as applicable laws and regulations; initiatives of competitors, competitors' entry into and expansion in Richemont's markets, andcompetitive pressures; disruptions impacting Richemont's business and operations; the availability of necessary personnel to staff Richemont's boutiques and otherfacilities; the availability of skilled labour in areas in which new boutiques and facilities are to be constructed or existing boutiques and facilities are to be relocated,
expanded or remodelled; delays in the opening of new, expanded or relocated boutiques and facilities; failure to successfully implement or make changes to Richemont’s
information systems; and Richemont’s ability to successfully control costs and execute on, and achieve the expected benefits from, the operational and strategic initiatives
referenced above.
All of the forward-looking statements made in this document are qualified by these cautionary statements and we cannot assure you that the results or developments
anticipated by management will be realized or, even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition,
results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forwardlooking statements made in this document apply only as of the date of this document. While we may elect to update forward-looking statements from time to time, we
specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable laws.
Nothing in this presentation constitutes investment advice or a recommendation of a particular investment or trading strategy. You are responsible for making your own
investment decisions based on your particular facts and circumstances, and should consider whether to consult a financial or tax advisor when considering whether to enter
into any investment transaction.

› Highlights› Sales› Business areas› Financials› Conclusion› Q&A› Appendix

Highlights

FY24 KEY FIGURES› All-time high of €20.6bn amid continued
macroeconomic and geopolitical uncertainty
 +8% at constant exchange rates (cr), +3% at actual
exchange rates (ar)› Operating profit of €4.8bn
 +13% at cr, -5% at ar Operating margin of 23.3%, down 190 bps;
up 100bps at cr €4.9bn excluding €58m of non-recurring charges(net)› Solid profit from continuing operations of €3.8bn

Sales
in €m

FY24

20 616FY23

19 953Operating profit
in €m

FY24

23.3%

4 794

FY23

25.2%

5 031

Profit for the year fromcontinuing operations

in €m

FY24

3 818

FY23

3 911

Cash flow from operating activitiesin €m› Strong cash flow from operating activities of €4.7bn
and continued robust net cash position of €7.4bn

FY24

4 696

FY23

4 491

FY24 HIGHLIGHTS: SOLID UNDERLYING PERFORMANCE› Sales growth in uncertain environment fuelled by All regions, led by Asia Pacific in value terms, and by Japan in percentage
terms Jewellery Maisons and Retail Strong Q1 and Q3 performance; +2% at cr in Q4, on challenging comparativeof +21%› Operating profit from continuing operations at €4.8bn
 Considerable negative impact from foreign exchange movements• Gross margin of 68.1% reported, up 130bps at constant exchange rates• Operating margin of 23.3% reported, up 100bps at constant exchange rates
 Strong 33.1% operating margin generated by the Jewellery Maisons› Strengthened approach to ESG with several milestones reached, including
global gender EQUAL–SALARY certification

SalesFY24: SALES GROWTH ACROSS ALL REGIONS% of sales,% change at actual rates,% change at constant rates› 3% growth in Europe, supported byresilient domestic spending on
demanding comparatives› Double-digit increase in Asia Pacific,
with most markets reporting growth› 5% growth in the Americas sustainedby sequential quarterly improvement,
on strength of domestic demand; US
now the Group’s largest market

22%
+2%
+3%

Europe

22%
+1%
+5%

AmericasMiddle East
& Africa› Strongest relative performancerecorded in Japan and the Middle
East & Africa, the latter driven by
local and tourist spending

Japan

8%
+7%
+11%

40%
+4%
+10%

8%
+8%
+20%

Asia Pacific

Change vs PY at actual rate:+€663m +3%+283
19 953
FY23

+63

+135

+111

20 616+71
Europe Asia Pacific Americas Japan Middle East
& Africa

FY24

FY24: SALES GROWTH DRIVEN BY RETAIL› Retail: continued channel outperformance with sales up 11% driven by double-digit
growth at the Jewellery Maisons and Specialist Watchmakers and mid-single digit
growth at the Fashion & Accessories Maisons; now 69% of Group sales› Online retail: -2% with the Fashion & Accessories Maisons posting limited growth› Wholesale: +4% on solid performance from the Jewellery Maisons, partially offset bysofter sales at the other business areas› DTC rate: increase from 74% to 75% driven by SWM and F&A Maisons

Retail (DOS)

Online retail

Wholesale+16%

Retail 69%

+11%
+6%

FY24 FY23-2%

FY24 FY23+7%+4%

Online retail 6%
Wholesale and 25%
royalty income

FY24 FY23

FY24

100%
80%
60%
40%
20%
0%

FY24 DTC rateby business area
82%
60% 57%JM SWM Other

Business areas

FY24 JEWELLERY MAISONS: SOLID RESULTS› Sales increased by 6% (+12% at cr) to €14.2bn
 Increases in all regions, with particularstrength in Asia Pacific, Japan and Middle
East & Africa
 Growth in most channels› Operating margin at 33.1%
 Continued investments in communication,
jewellery production capacity anddistribution

20%+4%Europe10% Japan
+11%

21%
+3%
Americas9%+8%40%, +7%
Asia PacificMiddle East
& Africa% of sales,% change at actual rates

 Operating result up 14% at cr

12 months
Sales

FY24
14 242FY23
13 427

Operating result

4 713

4 684

+1%

+14%

Operating margin

33.1%

34.9%

-180bps+80bps€m

Actual rates Constant rates
+6%
+12%

FY24 JEWELLERY MAISONS: INVESTING FOR THE FUTURE› Broad-based performance across iconic watch
and jewellery collections
 Jewellery: Trinity (100 years’ anniversary) andClash (Cartier), Alhambra and Fauna (Van Cleef& Arpels) and Opera Tulle and Macri (Buccellati) Watches: Panthère and Baignoire (Cartier) and
Perlée (Van Cleef & Arpels)› High Jewellery continued on a high note with thesuccessful launches of Le Voyage Recommencé(Cartier), Le Grand Tour (Van Cleef & Arpels) andMosaico (Buccellati)› Further upgrades in the retail network included
renovations (Milan – Buccellati), relocations(South Coast Plaza – Van Cleef & Arpels) andselective openings in new markets (e.g. Mumbai –Cartier)› Stepped-up investments in jewellery production
capacity across Jewellery Maisons

FY24 SPECIALIST WATCHMAKERS: ROBUST RETAIL GROWTH› Sales lower by 3% (+2% at cr) to €3.8bn
 Growth in Asia Pacific excluding China,
Japan and Middle East & Africa more thanoffset by declines in other locations
 6% increase in retail (+12% cr) partiallymitigating softness in other channels

20%-2%EuropeAmericas7%+6%Middle East
& Africa› Operating margin resilient at 15.2%
 Continued investments in retailisation andcommunication
 Significant currency impact: operating
result up 3% at cr
12 months
Sales

7% Japan
+7%

14%
-9%

52%, -4%
Asia Pacific% of sales,% change at actual rates

FY24
3 767

FY23
3 875

Operating result

572

738

-22%

+3%

Operating margin

15.2%

19.0%

-380bps+20bps€m

Actual rates Constant rates-3%+2%

FY24 SWM: RETAILISATION AND CLIENT ENGAGEMENT› Varied performance across Maisons with
continued resilience of iconic collections, including
Lange 1 (A. Lange & Söhne), Portugieser (IWC),
Reverso (Jaeger-LeCoultre), Luminor (Panerai), Polo
(Piaget) and Traditionnelle (Vacheron Constantin)› Strengthened client engagement with enhanced
customer experience in flagship stores and further
improved retail network through new openings (e.g. “Casa Panerai” in Paris)
 internalisation of external points of sale
 relocations and renovations (first new Piaget
boutique concept in Taipei 101, Taiwan)› Direct-to-client (DTC) ratio now at 60%, sales inmono-brand environment at 79%

FY24 ‘OTHER’: RESILIENT F&A PERFORMANCE› Sales broadly in line with FY23 at €2.6bn(-2% ar, +1% cr)
 Resilience of largest region (Americas)
mitigates softness elsewhere Muted retail sales growth offset by lower
sales in other channels

33%-3%Europe37%+2%Americas5%+1%20%, -4%

5%
Japan
-9%

Asia PacificMiddle East
& Africa› Operating loss of €43m
 Impact of Watchfinder (incl. impairment)
and watch component manufacturers% of sales,% change at actual rates

 F&A Maisons at breakeven; €30m at cr

12 months
Sales

FY24
2 607

FY23
2 651

Operating result

-43

59

NR

NR

Operating margin

-1.6%

2.2%

-380bps-270bps€m

Actual rates Constant rates-2%+1%

FY24 F&A MAISONS: UNRELENTED FOCUS ON CREATIVITY› Sales growth in most Maisons with heightened
focus on creativity
 Another successful year for Alaïa and Peter Millar
 Positive dynamic for high value items and large
leather goods at Montblanc Acclaimed first collections of Chemena Kamali at
Chloé and Simon Holloway at dunhill› Enhanced retail network with selective openings
across Maisons and regions› Acquisition of proprietary savoir-faire in high-end
shoe manufacturing with Gianvito Rossi› Further expansion of Watchfinder, now present infour TimeVallée locations and in over 100 SWM and
Cartier boutiques via its “Part Exchange Service”

Financials

HIGHER FY24 GROSS PROFIT› Gross profit up 2% to €14bn› Gross margin down 60bps to 68.1%
 Adverse foreign exchange movements (-190bps) and higher raw materials cost
 Tempered by targeted price increases and favourable geographical mix+130bps

70.0%-190bps

68.7%
68.1%

FY23
Hist rates

Market/channel/
Product mix& Price effect

Other

FY24
Constant
rates

FX impact

FY24
Actual rates

FY24 OPERATING EXPENSES TIGHTLY CONTROLLED› Operating expenses up +6% in inflationary
environment+6%

 Increased S&D expenses on inflation-driven
operating cost increases, strength of retail sales
and expanded network

9 242
+317

+66

-13

+187

0

 Higher communication investments, particularly
at the Jewellery Maisons; remains at 9.7% of sales 8 685
 Higher administrative expenses primarily due toincreased salary costs, investments in technology
and strong exposure to CHF

FY23

Selling andFulfilment
Other
distribution
Communication
Administrative

FY24 €58m of non-recurring charges net (vs €66m PY)
12 months
Net operating expenses

FY24-9 242% of sales
44.8%

FY23
-8 685% of sales
43.5%

Actual rates+6%

Constant rates+9%

Selling and distribution expenses-5 00024.3%-4 683

23.5%

+7%

+11%

Communication expenses-2 006

9.7%-1 940

9.7%

+3%

+6%

-244

1.2%

-257

1.3%

-5%

-3%

-1 8899.2%-1 702

8.5%

+11%

+11%

-103

0.5%

-103

0.5%

0%

-3%

Fulfilment expenses
Administrative expenses
Other expenses€m

ROBUST FY24 OPERATING PROFIT› Operating profit of €4.8bn
 Higher sales and gross profit; well-controlled costs
 Unfavourable currency movements: -5% at ar, +13% at cr
 Operating margin of 23.3%, down 190bps at ar, up 100bps at cr› Reached €4.85bn excluding non-recurring charges of €58m
12 months
Sales

FY24
20 616% of sales

FY23
19 953% of sales

Gross profit

14 03668.1%

13 716

68.7%

+2%

+10%

Net operating expenses-9 24244.8%-8 685

43.5%

+6%

+9%

Operating profit

4 794

23.3%

5 031

25.2%

-5%

+13%

€m

Actual rates Constant rates+3%+8%+100bps-290bps
5 031+130 bps

FY23
Hist rates
25.2%

Gross Margin

Retail network evolution,
salary increases andinvestment in technology
infrastructure

4 794

Primarily
driven by
Jewellery
Maisons

OPEX excl.
Communication
Communication

FY24
Constant
rates
26.2%

FX impact

FY24
Act rates
23.3%

IMPROVED FY24 NET FINANCE COSTS› €136m improvement in net finance costs to €178m reflects €123m increase in FX gains on derivatives under the Group’s hedging programme €62m positive variance in interest income/expense Partially offset by a €63m increase in fair value losses on financial instruments
12 months
Net foreign exchange losses on monetary items

FY24
-226

FY23
-240

Change+14

Net gains on hedging activities

+187

+64

+123

Fair value adjustments

-117

-54

-63

Interest income/(expense), net

-22

-84

+62

Net finance costs

-178

-314

+136

€m

+123
-314
FY23

-63

+62

-178

Fair value
adjustments

Interest income/(expense), net

FY24

+14
Net FX losses onmonetary items

Net gains on
hedging act.

FY24 DISCONTINUED OPERATIONS› Sales down 14% at ar over the prior year; -12% at cr› Operating loss of €1.4bn largely reflecting €1.3bn non-cash write down of net assets
held for sale (to the net working capital position of €925m)› Remaining classified as asset ‘held for sale’

12 months
Revenue

FY24
2 170

FY23
2 529

Change-14%

Operating results-1 435-3 639+61%

Results for the year

-1 463-3 610+59%€m

SOLID FY24 PROFIT FROM CONTINUING OPERATIONS› Profit from continuing operations of €3.8bn includes improved net finance costs› Profit for the year rose to €2.4bn due to a lower loss from discontinued operations

12 months
Operating profit

FY24
4 794

FY23
5 031

Change
-5%

-178

-314

-43%

39

41

-5%

Profit before taxation

4 655

4 758

-2%

Taxation

-837

-847

-1%

Profit for the year from continuing operations

3 818

3 911

-2%

Profit margin from continuing operations

18.5%

19.6%

-110bps

Loss for the year from discontinued operations-1 463-3 610+59%

Profit for the year

2 355

301

+682%

Net finance costs
Share of equity-accounted investments' results€mHIGHER FY24 CASH FLOW FROM OPERATING ACTIVITIES› Cash flow from operating activities, up 5% to €4.7bn
 Includes YNAP Primarily reflects controlled working capital with lower inventory build-up andbenefit of cash inflow from the settlement of currency derivative

12 months
Operating profit from continuing operations

FY24
4 794

FY23
5 031

Change-237

Operating loss from discontinued operations-1 435-3 639+2 204

Adjustment for depreciation and amortisation

1 432

1 473

-41

Adjustment for other non-cash items

1 427

3 619

-2 192

Changes in working capital-651-1 167+516

Taxation paid

-834

-734

-100

Net financing payments

-37

-92

+55

4 696

4 491

+205

Cash flow from operating activities€mSUSTAINED FY24 CAPITAL EXPENDITURE› Capex* of €1.0bn; 4.4% of sales
 Primarily renovation, relocation andextension of internal store network
 Investments in manufacturing facilities in
Switzerland, France and Italy
 Investments in technology
Cartier – Mumbai, Jio World Plaza

FY24

4.4%

FY23

4.4%

as a % of sales

FY24

31%

24%

45%

€1 010m

FY23

33%

19%

48%

€981m

Other

* Including discontinued operations

Manufacturing

Distribution

Van Cleef & Arpels – Perth, Murray Street

INCREASED FY24 FREE CASH FLOW OF €2.9BN› €82m improvement in free cash flow due to €205m increase in cash flow from operating activities Partially offset by higher net capex and lease liability repayments

12 months
Cash flow from operating activities

FY24
4 696

FY23
4 491

Change+205

Net acquisition of tangible assets

-865

-838

-27

Net acquisition of intangible assets

-137

-124

-13

Payments capitalised as right of use assets

-11

-3

-8

Net acquisition of other non-current assets

-45

-44

-1

Lease payments - principal

-762

-688

-74

Free cash flow

2 876

2 794

+82

€m

ROBUST BALANCE SHEET€42.7bn€42.7bn

Fixed assets 21%
Other non-current assets

6%

48% Total equity

Inventory 19%
Other current assets

4%

Investments in money
market and externally 21%
managed funds
Assets held for sale4%

Cash 25%

Assets

24% Non-current liabilities
2%

Liabilities held for sale

26% Current liabilities

Equity and liabilities

FY24 DIVIDEND› Board of Directors proposal:
 Ordinary dividend of CHF 2.75 per 1 A share/ 10 B shares 10% increase of ordinary dividend over prior year

Dividend cash outflow in €m

2 000

CHF 3.25€1 851m

Ordinary

1 500

1 000

CHF 1.40
€650m

3,50
CHF 2.75*

Total Outflow
CHF 1.60
€854m

4,00

CHF 3.50€2 072

CHF 1.70€878m

CHF 1.80€918m

CHF 1.90
€926m

2,50

CHF 2.00€1 041m

CHF 2.00€1 017m

3,00

2,00

CHF 1.34
€529m

1,50
1,00

500

0,50
0

0,00

2015

2016

2017

2018

2019

2020

2021

2022

Dividend outflow during financial year ended 31 March* For shareholder approval at Sept 2024 AGM

2023

2024

2025

Dividend per 1 A /10 B shares (in CHF)

Warrant and Special

Conclusion

FY24 ESG HIGHLIGHTS: CONSOLIDATING OUR APPROACH› ESG Approach ESG Management System informed by ESG Risks & Opportunities Assessment
 Richemont Sustainability Online Academy
 Non-Financial Report in accordance with GRI Standards and Art. 964a-c of Swiss Codeof Obligations; selected GRI indicators independently assured› Acting on our Environmental Impact
 CDP A- for climate change CO2e emissions of transportation and distribution reduced by 31% vs 2022
 22% of Richemont-owned buildings are certified with the highest building standards› Acting on our Social Impact
 Global gender EQUAL-SALARY certification
 Human Rights statement supported by internal taskforce Preserving craftmanshipSPECIALIST WATCHMAKERS: BUILDING A SUSTAINABLE
MODEL CENTERED ON CLIENTS AND TRUE DEMAND› Nurturing brand equity, craftsmanship and creativity› Accelerating direct-to-client engagement› Knowing our clients to better serve them
› Developing multi-market strength, mastering excellence in end-to-end operations
Retailised business

Client engagement79%

2 out of 3 clients

DTC and franchise mono-brandstores share of sales

Share of clients served in amonobrand retail environment+27pp vs FY18

vs <1/2 in FY18

True demand alignment

Network productivity

Sell-out / Sell-in ratio (SOSI),in value~100%
over the cycle

Sales at RSP per POS+65%
vs FY19

FY24: WELL-POSITIONED FOR THE LONG TERM
› Solid financial performance delivered in uncertain environment
 Sales growth in all regions at cr and at ar Strong performance from Jewellery Maisons and retail; resilience of Specialist
Watchmakers and Fashion & Accessories Maisons Increased operating margin excluding adverse foreign exchange movements Robust cash flow from operating activities and strong balance sheet› Increasingly balanced regional and nationality mix› Strengthened approach to ESG with milestones reached› Confidence for long-term sustainable value creation

Q&AAppendix

FY24 FINANCIAL HIGHLIGHTS
Sales*
€m

CR

HR

FY24

20 616 +8%FY23

19 953 +14% +19%

FY22

16 748FY21

13 144FY20

14 238

Profit from continuing operations*€mGross profit*€m∆%

Operating profit*
€m

68.1%

14 036

+2%

FY24

23.3%

4 794

-5%

FY23

68.7%

13 716

+23%

FY23

25.2%

5 031

+34%

NR

FY22

22.4%

-9%

FY21

11.2%

1 478

-3%

0%

FY20

10.7%

1 518

-22%

+3% FY24

NR

NR

FY22

66.7%

-5%

-8% FY21

59.8%

0%

+2%

60.5%

FY20

11 176
7 861
8 611

∆%

Cash flow from operating activities€m∆%

Net cash
€m

FY24

18.5%

3 818

-2%

FY24

4 696

+5%

FY24

FY23

19.6%

3 911 +88%

FY23

4 491

-4%

FY23

FY22

14.6%

NR

FY22

4 638

+44%

FY22

FY21

9.8%

+39%

FY21

+36%

FY21

FY20

6.5%

-67%

FY20

+17%

FY20

∆%

Return on operating assets

2 449
1 289
931

Capex
€m
FY22

1 010

+3%

FY24

FY21

981

+13%

FY23

+70%

FY22

-30%

FY21

-11%

FY20

FY20
FY21
FY20

871
513
735

∆%

3 218
2 370

3 753

NR

∆%
7 450 +14%
6 549
5 251

+28%
+25%
+42%

3 393
2 395

-5%

Ordinary Dividends**
CHF 1 A share/10 B shares

∆%

FY24

2,75

+10%

FY23

2,50

1.00*** +11%

FY22

2,25

10%

FY21

2,00

+100%

10%

FY20

1,00

-50%

38%
45%
23%

1.00***+13%* FY22 comparatives represented as YNAP results are presented as ‘discontinued operations’** For shareholder approval at Sept 2024 AGM*** CHF 1.00 special dividend

ESG PERFORMANCE HIGHLIGHTSS U S T A I N A B I L I T Y
Established

ESG Management
Systeminformed by

ESG Risk & Opportunity
Assessment

11.6 in Top 4%

Renewable electricity

O N

preserving
craftsmanshipby nurturing
young talents

A leader since April 2021

O U R

E N V I R O N M E N T A L

I M P A C T

31% reduction vs2022
In CO2e emissions
from transportation &distribution
A C T I N GCommitted to

Launched
Sustainability Online
Academyfor training &development

Updated February 2024

A C T I N G

97%

A P P R O A C H

O N

O U R

Covers>38 000

employees
across39 markets
excluding YNAP & sites in Russia

22%

Climate change: AS O C I A L

of Richemont-ownedbuildings certified withhighest building standards

I M P A C T

Gender Balance
females represent

58% of global workforce
50% of management positions
Updated December 2023

4th consecutive year

FY24 SALES BY PRODUCT LINE OF CONTINUING OPERATIONS
FY24
10 704FY23
10 036

Actualrates+7%

Watches

7 001

6 983

0%

+5%

Leather goods and accessories

1 025

963

+6%

+10%

Clothing

789

842

-6%

-3%

Writing instruments

435

456

-5%

-2%

Other

662

673

-2%

+1%

20 61619 953+3%+8%

12 months
Jewellery€m

Total sales

2% 3%
4%
5%

34%

52%

Jewellery
Watches
Leather goods and accessories
Clothing
Writing instruments
Other

Constant
rates
+12%

FY24 OPERATING RESULT BY BUSINESS AREA
12 months
Jewellery Maisons

FY24
4 713

FY23
4 684

Change+1%Specialist Watchmakers

572

738

-22%

Other

-43

59

NR

5 242

5 481

-4%

Valuation adjustments on acquisitions

-31

-23

+35%

Corporate costs

-417

-427

-2%

Central support services

-289

-302

-4%

Other unallocated expenses, net

-128

-125

+2%

4 794

5 031

-5%

FY24
33.1%

FY23
34.9%

Specialist Watchmakers

15.2%

19.0%

Other

-1.6%

2.2%

Operating margin

23.3%

25.2%

€m

Operating result

Operating profit
12 months
Jewellery Maisons% of sales

SUMMARY BALANCE SHEET AND INVENTORY
at 31 March
Non-current assets

FY24
11 449FY23
10 519Current assets

31 23230 368Non-current liabilities

10 254

9 560

Current liabilities

11 79212 308Equity attributable to owners of the parent company

20 521

18 959114

60

20 63519 019

7 450

6 549

FY24
5 082

FY23
4 512

+570

Change+13%

Raw materials and work in progress

2 898

2 584

+314

+12%

Total

7 980

7 096

+884

+12%

17.7

16.6

€m

Non-controlling interests
Equityincluding
Net cashat 31 March
Finished goods

Number of months of cost of sales€m

RotationFY24 RETAIL NETWORK
Jewellery Maisons Internal

1 367 (+81)

 Franchise 1 055 (no change) Total2 422 (+81)

31 March
2024
484

31 March Net change
2023
Total
465
+19

Cartier

273

272

+1

Van Cleef & Arpels

163

150

+13

Buccellati

48

43

+5

Specialist Watchmakers

909

871

+38

IWC

212

206

+6

Panerai

185

169

+16

Jaeger-LeCoultre

171

166

+5

Piaget

136

132

+4

Vacheron Constantin

116

113

+3

A. Lange & Söhne

43

44

-1

Other SW*

46

41

+5

1 029

1005

+24

Montblanc

533

562

-29

Chloé

228

218

+10

dunhill

88

92

-4

Delvaux

71

70

+1

Peter Millar

21

22

-1

Watchfinder & Co.

13

15

-2

Other F&A*

75

26

+49

2 422

2 341

+81

Other - Fashion & Accessories

Total* Other SW - Baume & Mercier, Roger Dubuis; Other F&A - Alaïa, Gianvito Rossi, Purdey, Serapian

HEDGING› 70% of our forecasted net foreign currency cash flow exposure, arising primarily in
AED, HKD, JPY, SGD, USD and CNY, is hedged vs CHF and EUR* on a 12-month rollingbasis› In the case of USD, the net exposure takes into account purchases of precious
metals and precious stones (which are usually denominated in USD)
› We raise FX hedge rate to 100% within a 60-day window upon validation ofintercompany invoicing› Realised and unrealised gains/losses** on currency derivative contracts arerecognised in net finance costs
12 months to 31 March 2024

Average rates

versus CHF
AED

Actual
4.15

Hedge
4.06

HKD

8.84

8.62

JPY

163.19151.05

SGD

1.52

1.49

USD

1.13

1.09

Actual
7.77

Hedge
7.50

versus EUR
CNY* As Chinese Yuan is a less liquid currency, we hedge it against EUR. It also supports Group Treasury in building EUR position** Realised gains/losses account for transactions already settled, while unrealised account for the ones that are yet to matureDEFINITIONS› yoy means year on year change vs year ended 31 March 2023
› Abbreviations: ar stands for actual rates and cr for constant rates› Movements at constant exchange rates are calculated by translating underlying sales inlocal currencies into euros in both the current period and the comparative periods at
the average exchange rates applicable for the financial year ended 31 March 2023
› Any long form references to Hong Kong, Macau and Taiwan within this presentationare Hong Kong SAR, China; Macau SAR, China; Taiwan, China respectively› Key figures apply to continuing operations

Buccellati • Cartier • Van Cleef & Arpels
A. Lange & Söhne • Baume & Mercier • IWC • Jaeger-LeCoultre • Panerai • Piaget • Roger Dubuis • Vacheron ConstantinAlaïa • AZ Factory • Chloé • Delvaux • dunhill • Gianvito Rossi • Montblanc • Peter Millar • Purdey • Serapian • TimeVallée • Watchfinder & Co.
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