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CDI - Christian Dior SE News Story

€624 2.5  0.4%

Last Trade - 14/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £96.95bn
Enterprise Value £142.34bn
Revenue £38.46bn
Position in Universe 8th / 850

Christian Dior : Financial release

Wed 29th July, 2015 5:07pm
Christian Dior : Financial release

FINANCIAL RELEASE


The Christian Dior group achieved revenue of 35.1 billion euros for the fiscal year from July 1, 2014 to June 30, 2015, generating profit from recurring operations of 6.3 billion euros. Consolidated net profit was 6.2 billion euros and the Group share of net profit was 2.4 billion euros. Free cash flow (before financial investments, transactions relating to equity and financing activities) amounted to 3.5 billion euros for the fiscal year. (a)

Revenue and profit from recurring operations by business group were as follows:



Revenue



(EUR millions)

1st half-year
(July 1 -
Dec. 31, 2014) (c)

2nd half-year
(January 1 -
June 30, 2015)(d)

12-month fiscal year
(July 1, 2014 - June 30, 2015) (a)

12-month fiscal year
(July 1, 2013 -
June 30, 2014) (b)

Change at actual
exchange rates

Organic
growth (e)

Christian Dior Couture 854 911 1,765 1,501 +18% +10%
Wines and Spirits 2,296 1,930 4,226 4,055 +4% -1%
Fashion and Leather Goods



5,798 5,933 11,731 10,202 +15% +4%
Perfumes and Cosmetics 2,077 2,159 4,236 3,752 +13% +7%
Watches and Jewelry 1,516 1,552 3,068 2,688 +14% +7%
Selective Retailing 5,152 5,291 10,443 9,087 +15% +6%
Other activities and eliminations (220) (168) (388) (418) - -
Total17,47317,60835,08130,867+14%+5%

(a) Audit procedures in progress
(b) Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(c) Figures for the first half of the fiscal year (July 1 - December 31, 2014) underwent limited review procedures with a report issued by the Statutory Auditors on the half-year consolidated financial information
(d) Figures for the second half of the fiscal year (January 1 - June 30, 2015) underwent limited review procedures with no report issued
(e) At constant structure and exchange rates. The exchange rate impact was +7%

Profit from recurring operations
(EUR millions)

1st half-year
(July 1 -
Dec. 31, 2014) (c)

2nd half-year
(January 1 -
June 30, 2015)(d)



12-month fiscal year
(July 1, 2014 - June 30, 2015) (a)

12-month fiscal year
(July 1, 2013 -
June 30, 2014)(b)

Change at actual
exchange rates

Christian Dior Couture 120 106 226 187 +21%
Wines and Spirits 686 482 1,168 1,289 -9%
Fashion and Leather Goods 1,702 1,661 3,363 3,129 +8%
Perfumes and Cosmetics 211 248 459 418 +10%
Watches and Jewelry 176 205 381 319 +19%
Selective Retailing 484 428 912 894 +2%
Other activities and eliminations (132) (81) (213) (185) -
Total3,2473,0496,2966,051+4%

(a) Audit procedures in progress
(b) Figures restated with retrospective application of IFRS 10 and 11 on consolidation
(c) Figures for the first half of the fiscal year (July 1 - December 31, 2014) underwent limited review procedures with a report issued by the Statutory Auditors on the half-year consolidated financial information
(d) Figures for the second half of the fiscal year (January 1 - June 30, 2015) underwent limited review procedures with no report issued

Highlights of the second half of the fiscal year of the Christian Dior group (January 1 - June 30, 2015) include:

  • Solid growth in Europe and the United States,
  • Strong positive exchange rate effect,
  • Excellent performance of Christian Dior Couture, fueled by the power of its Brand and the excellence of its products, with consolidated revenue up 22% at actual exchange rates and up 9% at constant exchange rates and retail sales up 25% at actual exchange rates and up 11% at constant exchange rates,
  • Good performance from Wines and Spirits in all world regions with the exception of China, impacted by the continued destocking by distributors,
  • Double-digit organic revenue growth in the second quarter for Fashion & Leather Goods,
  • Major success of new products at Louis Vuitton, where profitability remains at an exceptional level,
  • Continued investment in the fashion brands,
  • Excellent performance at Parfums Christian Dior,
  • Strong growth in Bvlgari's results and the continued repositioning of TAG Heuer on its core offering,
  • Remarkable momentum at Sephora which is strengthening its position in all regions where it is present and in the digital universe,
  • DFS continues to be impacted by the currency and geopolitical environment in Asia,
  • Cash from operations before changes in working capital of 3.5 billion euros,
  • Net debt to equity ratio of 28% as of end of June 2015.

OUTLOOK

Despite the context of economic and currency uncertainties, the Christian Dior group will continue to gain market share thanks to the numerous product launches planned in the coming months and its geographic expansion in promising markets, while continuing to manage costs.

Our strategy of focusing on quality across all our activities, combined with the dynamism and unparalleled creativity of our teams, will enable us to further reinforce the Group's global leadership position in luxury goods.


During the half-year period and as of this date, no events or changes likely to significantly affect the Group's financial structure took place.

The annual financial statements as of June 30, 2015 will be approved by the Board of Directors at its meeting in October, which will be followed by the publication of a financial release.

* *
*

This announcement constitutes regulated information and is made available on the Company's website (www.dior-finance.com).

Some of the statements contained in this financial release may include or be based on forward-looking information. Major risk factors, uncertainties or elements either beyond our control or unable to be anticipated as of this writing may thus cause actual results to differ significantly from those expressed or implied by the forward-looking information in this financial release. The statements made herein reflect our vision of the Group's business activities as of the date of this financial release. Accordingly, readers are cautioned not to place undue reliance on the information thus provided. Furthermore, it should be noted that we undertake no obligation to update publicly or otherwise revise any forward-looking statements.

  • APPENDIX 1 - Revenue by business group and by quarter
  • APPENDIX 2 - Profit from recurring operations by business group and by half-year period

APPENDIX 1

Christian Dior group - Revenue by business group and by quarter

Fiscal year ended June 30, 2015
(EUR millions) Christian
Dior
Couture
Wines and
Spirits
Fashion and
Leather Goods
Perfumes and
Cosmetics
Watches and
Jewelry
Selective
Retailing
Other
activities and
eliminations
Total
Quarter from July 1 to September 30, 2014 417 948 2,647 961 706 2,234 (114) 7,799
Quarter from October 1 to December 31, 2014 437 1,348 3,151 1,116 810 2,918 (106) 9,674
Quarter from January 1 to March 31, 2015 433 992 2,975 1,094 723 2,656 (122) 8,751
Quarter from April 1 to June 30, 2015 478 938 2,958 1,065 829 2,635 (46) 8,857
Total1,7654,22611,7314,2363,06810,443(388)35,081
Fiscal year ended June 30, 2014 (a)
(EUR millions) Christian
Dior
Couture
Wines and
Spirits
Fashion and
Leather Goods
Perfumes and
Cosmetics
Watches and
Jewelry
Selective
Retailing
Other
activities and
eliminations
Total
Quarter from July 1 to September 30, 2013 368 1,032 2,428 879 655 2,093 (103) 7,352
Quarter from October 1 to December 31, 2013 388 1,346 2,744 1,034 767 2,612 (118) 8,773
Quarter from January 1 to March 31, 2014 356 888 2,639 941 607 2,222 (97) 7,556
Quarter from April 1 to June 30, 2014 389 789 2,391 898 659 2,160 (100) 7,186
Total1,5014,05510,2023,7522,6889,087(418)30,867

(a)Figures restated with retrospective application of IFRS 10 and 11 on consolidation


APPENDIX 2

Christian Dior group - Profit from recurring operations by business group and by half-year period

Fiscal year ended June 30, 2015
(EUR millions) Christian
Dior
Couture
Wines and
Spirits
Fashion and
Leather Goods
Perfumes and
Cosmetics
Watches and
Jewelry
Selective
Retailing
Other
activities and
eliminations
Total
Half-year from July 1 to December 31, 2014 120 686 1,702 211 176 484 (132) 3,247
Half-year from January 1 to June 30, 2015 106 482 1,661 248 205 428 (81) 3,049
Total2261,1683,363459381912(213)6,296
Fiscal year ended June 30, 2014 (a)
(EUR millions) Christian
Dior
Couture
Wines and
Spirits
Fashion and
Leather Goods
Perfumes and
Cosmetics
Watches and
Jewelry
Selective
Retailing
Other
activities and
eliminations
Total
Half-year from July 1 to December 31, 2013 108 828 1,642 214 212 496 (101) 3,399
Half-year from January 1 to June 30, 2014 79 461 1,487 204 107 398 (85) 2,651
Total1871,2893,129418319894(185)6,051

(a)Figures restated with retrospective application of IFRS 10 and 11 on consolidation

This document is a free translation into English of the original French "Communiqu financier" dated July 29, 2015. It is not a binding document. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Christian Dior via Globenewswire

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