Hermes International S.C.A.

Hermes International is engaged in the manufacture, sale, and distribution of luxury goods primarily in France, rest of Europe, Japan, Asia-Pacific, and Americas. Co.'s activities can be divided into two segments: the distribution via Co.'s exclusive network and the distribution via specialist outlets. The distribution via Co.'s exclusive network comprises silks and textiles, leather goods and saddlery, ready-to-wear and fashion accessories (men and women's clothing, belts, jewellery accessories, gloves, hats and shoes), and other goods (jewellery and products of the art of living department). The distribution via specialist outlets comprise perfumes, tableware and watches.
  • TickerRMS
  • ISINFR0000052292
  • ExchangeEuronext Paris
  • SectorPersonal Goods
  • CountryFrance

Analysts

Jelena Sokolova

Morningstar | Hermes' High-Quality Business Model Results in Sustainable Long-Term Pricing Power

We believe wide-moat Hermes has carved out a unique niche in the luxury goods industry, which will provide it with continuing superior returns on capital. Hermes’ iconic leather bag styles (part of the EUR 2.8 billion leather goods segment) are in limited supply, supporting the brand’s exclusivity perception and providing the company with demand visibility and significant pricing power. Hermes Birkin and Kelly bags are sold in secondary markets and auctions for higher than the initial purchase prices--an impressive feat for soft luxury goods. The remainder of Hermes’ product portfolio has a wi...

Jelena Sokolova

Hermes' High-Quality Business Model Results in Sustainable Long-Term Pricing Power

We are maintaining our fair value estimate of EUR 332 for wide-moat Hermes, as the company reported nine-months revenue slightly above our full-year expectations. We continue to regard shares as expensive at these levels. Revenue increased by 11% at constant exchange rates in the nine months of 2018 versus our expectations for 9% growth. As in previous quarters, growth was predominantly volume driven, with little price and scope effect. In the quarter, Hermes saw acceleration in its Leather Good...

Ng Adrian

Hermes International

Ng Adrian

Hermes International

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2018

A few weeks after the French government officially mandated advisers to work on EDF’s “architecture”, we provide an update on the main scenarios and their financial consequences. Our status-quo approach gives a valuation of between € 18.0 (+20%) and € 19.2 (+28%), depending on the outcome of the Multiannual Energy Plan (MEP). Under alternative scenarios, with total regulation of the nuclear sector or segregation of nuclear power, our valuation ranges from € 22.5 (+50%) to € 24.0 (+71%...

Jelena Sokolova

Morningstar | Hermes' High-Quality Business Model Results in Sustainable Long-Term Pricing Power

We believe wide-moat Hermes has carved out a unique niche in the luxury goods industry, which will provide it with continuing superior returns on capital. Hermes’ iconic leather bag styles (part of the EUR 2.8 billion leather goods segment) are in limited supply, supporting the brand’s exclusivity perception and providing the company with demand visibility and significant pricing power. Hermes Birkin and Kelly bags are sold in secondary markets and auctions for higher than the initial purchase prices--an impressive feat for soft luxury goods. The remainder of Hermes’ product portfolio has a wi...

Jelena Sokolova

Hermes' High-Quality Business Model Results in Sustainable Long-Term Pricing Power

We are maintaining our fair value estimate of EUR 332 for wide-moat Hermes, as the company reported nine-months revenue slightly above our full-year expectations. We continue to regard shares as expensive at these levels. Revenue increased by 11% at constant exchange rates in the nine months of 2018 versus our expectations for 9% growth. As in previous quarters, growth was predominantly volume driven, with little price and scope effect. In the quarter, Hermes saw acceleration in its Leather Good...

Léopold Authié

Hermes International : Q3 2018 sales +9.6%cc (vs Oddo BHF 9.1%cc), in line with forecasts. No trend reversal expected in Q4

>Q3 2018 sales +9.6%cc (vs Oddo BHF 9.1%cc), in line with forecasts - The Q3 2018 sales (€ 1.462bn, + 9.6%cc) were in line with our forecasts. Organic growth came in at 9.6%cc (vs Oddo BHF +9.1%cc).Q3 2018 sales by region:France (€ 197m, +4.1%cc, 1% above our estimates).Rest of Europe (€ 284m, +6.7%cc, 1% below our estimates).Japan (€ 181m, +8.1%cc, 2% above our estimates).APAC excluding Japan (€ 519m, +11.7%cc, in line with our estimates).§rc...

Léopold Authié

Hermès International : Un CA T3 2018 à +9.6%cc (vs Oddo BHF 9.1%cc), en ligne avec les attentes. Pas de rupture de tendances à attendre sur le T4

>Un CA T3 2018 à +9.6%cc (vs. Oddo BHF 9.1%cc), en ligne avec les attentes - Le CA T3 2018 (1 462 M€, 9.6%cc) ressort en ligne avec nos attentes. La croissance organique est à 9.6%cc (vs. Oddo BHF à 9.1%cc).Ventes T3 2018 par région :France (197 M€, +4.1%cc, 1% au-dessus de nos attentes)Reste de l’Europe (284 M€, +6.7%cc, 1% en dessous de nos attentes)Japon (181 M€, +8.1%cc, 2% au-dessus de nos attentes)APAC hors Japon (519 M€, +11.7%cc, en li...

Jelena Sokolova

Morningstar | Hermes' Performance Continues on a Strong Track Across Geographies; Fair Value Estimate Maintained

We are maintaining our fair value estimate of EUR 332 for wide-moat Hermes, as the company reported nine-months revenue slightly above our full-year expectations. We continue to regard shares as expensive at these levels. Revenue increased by 11% at constant exchange rates in the nine months of 2018 versus our expectations for 9% growth. As in previous quarters, growth was predominantly volume driven, with little price and scope effect. In the quarter, Hermes saw acceleration in its Leather Good and Saddlery business to 11.7% versus 8% growth in the first half of the year helped by increasing...

1 director bought

A director at Hermes International bought 1,500 shares at 560.000EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/08/2018

A few weeks after the French government officially mandated advisers to work on EDF’s “architecture”, we provide an update on the main scenarios and their financial consequences. Our status-quo approach gives a valuation of between € 18.0 (+20%) and € 19.2 (+28%), depending on the outcome of the Multiannual Energy Plan (MEP). Under alternative scenarios, with total regulation of the nuclear sector or segregation of nuclear power, our valuation ranges from € 22.5 (+50%) to € 24.0 (+71%...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2018

Quelques semaines après que l’Etat ait officiellement mandaté des conseils pour travailler sur « l’architecture d’EDF », nous revenons sur les principales hypothèses d’évolution et leurs conséquences financières. Notre approche statu quo nous amène à une valorisation du titre entre 18.0 € (+20%) et 19.2 € (+28%), en fonction de la PPE, tandis que les hypothèses alternatives, avec régulation totale du nucléaire ou sanctuarisation du nucléaire, la porterait entre 22.5 € (+50%) et 24.0 €...

Alex Koagne ...
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Nicolas Kieffer
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/13/2018

...

Alex Koagne ...
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Nicolas Kieffer
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/09/2018

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Léopold Authié
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas Kieffer
  • Nicolas David
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Corby
  • Rémi Adam, CFA
  • Salma Bouraoui
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/23/2018

...

Ng Adrian

Hermes International

Ng Adrian

Hermes International

HERMES INTERNATIONAL sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of HERMES INTERNATIONAL (FR), active in the Clothing & Accessories industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 12, 2018, the closing price was EUR 492.00 and its target price was estimated at EUR 467.40.

Ng Adrian

Hermes International

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Ng Adrian

Hermes International

Loic Morvan

SECTOR | Luxury Goods | Slowdown Likely but no Break in the Trend

• The high growth trend also enabled most groups (at least the “best in class”) to deliver improved profitability levels over the half year thanks to operating leverage and, for some groups, to hedging gains that offset the negative EUR/USD impact on sales (-8% on average).

Jehanne Leroy

Proxy Report - 05/06/2018

ITEMS 9 to 12: The company proposes to re-elect to the Supervisory Board Robert Peugeot. In addition to being the Chairman and CEO of FFP, a French listed company, he sits on the board of 4 listed companies that do not belong to his group (Safran, Sofina, DKSH and Hermès). This raises the issue of the availability of this director. On that matter, we note that in 2017, he attended only 71.7% of Board meetings. The other re-elections proposed are members of the founding family. As long as the board does not comprise a majority of independent members, these re-elections will not be supported.  ...

Jehanne Leroy

Proxy Report - 05/06/2018

La société propose le renouvellement de 4 administrateurs, dont celui de Robert Peugeot. Celui-ci est Président Directeur Général d'une société cotée (FFP) et siège aux conseils de 4 sociétés cotées n'appartenant pas au groupe FFP (Sofina, DKSH, Safran et Hermès), ce qui est excessif et pose un probleme de disponibilité du mandataire. On notera sur ce point d'ailleurs qu'en 2017, il n'a assisté qu'à 71% des réunions du conseil d'Hermès. Les autres renouvellements proposés concernent des membres du conseil de surveillance liée à la famille actionnaire fondatrice. Cependant, tant que le conseil ...

Matthieu DRIOL

Analyse court terme - HERMES INTERNATIONAL : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 482,20 €. La tendance baissière serait remise en cause au-dessus de 572,80 €.

Matthieu DRIOL

Short term view - HERMES INTERNATIONAL : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €482.20. The bearish trend would be challenged above €572.80.

Matthieu DRIOL

Analyse court terme - HERMES INTERNATIONAL : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 482,20 €. La tendance baissière serait remise en cause au-dessus de 572,80 €.

Matthieu DRIOL

Short term view - HERMES INTERNATIONAL : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €482.20. The bearish trend would be challenged above €572.80.

Matthieu DRIOL

Analyse moyen terme - HERMES INTERNATIONAL : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 457,56 €. La tendance serait remise en cause par la rupture de 411,35 €.

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