The French luxury house posted consolidated revenue of €16.0 billion for the year, representing growth of 9% at constant exchange rates and 5.5% at current exchange rates compared with 2024. Recurring operating income reached €6.6 billion, up 7%, with operating profitability improving to 41% of sales.
Net profit attributable to the group amounted to €4.5 billion. Adjusted for an exceptional contribution on the profits of large companies in France, net profit reached €4.86 billion, an increase of 5.5% in line with revenue growth.
Sales in the fourth quarter totalled €4.1 billion, rising 10% at constant exchange rates. Growth was recorded across all geographical regions, with Europe, Japan, the Americas and the Middle East all achieving double-digit increases.
Axel Dumas, Executive Chairman of Hermès, said the company’s vertically integrated model and controlled distribution network continued to underpin performance. “This distinctive strategy has enabled the house to achieve robust revenue growth and strong performance,” he said, adding that the company was entering 2026 “with confidence” despite an uncertain environment.
Regionally, Japan delivered the strongest performance with growth of 14%, supported by loyal local clients. The Americas also posted a strong year, with revenue up 12% and new stores opened in Scottsdale, Arizona and Nashville, Tennessee. Europe, excluding France, grew 11%, while France itself recorded 9% growth. Asia, excluding Japan, increased 5%.
By product category, leather goods and saddlery remained the group’s main growth engine, increasing 13% and benefiting from strong demand and expanded production capacity. The company inaugurated its 24th leather goods workshop in L’Isle-d’Espagnac, France, and plans further sites in Gironde (2026), Ardennes (2027) and Calvados (2028), with an additional facility announced for Les Andelys by 2030.
Ready-to-wear and accessories rose 6%, while silk and textiles grew 5%. Perfume and beauty declined 8% compared with a strong 2024 base, and watches fell 2% overall despite a recovery in the second half of the year.
Hermès also reported strong cash generation, with operating cash flow reaching €5.4 billion and adjusted free cash flow totalling €3.9 billion. The company ended the year with a restated net cash position of €12.8 billion.
The group continued to expand employment, adding more than 1,300 jobs in 2025, including 800 in France, bringing its global workforce to 26,494 employees.
Looking ahead, Hermès said it maintains an “ambitious goal” for revenue growth at constant exchange rates in the medium term, supported by its integrated artisanal model, creative collections and loyal customer base.
