Richemont reports a significant increase in turnover and profit for the first half of the year
Keystone-SDA
The Swiss jewellery and watch group Richemont has seen a significant increase in turnover and, in particular, profit in the first half of the year. Jewellery sales rose more sharply, but the watch division also continued to grow.
The Geneva-based company increased its turnover in the first half of 2026/27 (as at the end of September) by 16% year-on-year to €12.3 billion (CHF11.3 billion), the group – which owns luxury watch brands such as Piaget and IWC, as well as jewellery makers such as Cartier and Van Cleef & Arpels – announced on Friday. Adjusted for currency effects, this represents a 17% increase at group level.
Operating profit (EBIT) rose by 33% to €3.1 billion in the first half of the year, with the margin increasing by 3.3 percentage points to 25.5%. Net profit stood at €2.5 billion (+39%).
With the figures presented, Richemont has more or less met analysts’ expectations for turnover, although EBIT was significantly above the consensus.
As is customary, Richemont did not provide an outlook for the remainder of the 2026/27 financial year.
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Translated from German, reviewed by an English Department journalist.
