Hermes (RMS FP) FY 2025 (EUR) Revenue 16bln (exp. 16bln), Op. Income 6.56bln (prev. 6.15bln Y/Y); notes that 2026 price increases would be around 5-6%, down from around 6-7% rate in 2025

Q4:

• Revenue 4.09bln (exp. 4.06bln).
• Revenue +9.8% (exp. +8.2%).

Outlook:

• In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.

By Region:

• Asia excluding Japan (+5%) delivered a solid performance across all countries in the region, all of which experienced growth. The fourth quarter grew by 8%.
• Japan (+14%) continued its strong momentum, driven by the loyalty of local clients and its exclusive distribution network.
• The Americas (+12%) completed an excellent year.
• Europe excluding France (+11%) and France (+9%) posted solid growth, supported by the loyalty of local customers and dynamic tourist flows.