Revenue totalled €11.6 billion in 2022, an increase of 23% at constant exchange rates over 2021. Net income for the year was €3.4 billion; representing net profitability of around 29%.
In the fourth quarter alone, Hermés achieved sales of €2.99 billion, increasing by 26% at current exchange rates and 23% at constant exchange rates.
The company created 4,300 jobs last year, including 2,900 in France, and reinforced its operating investments by €1.5 billion.
In Asia, excluding Japan, Hermés achieved a sales increase of 22% and noted that its performance remained dynamic in 2022, with sales performance sustained in Greater China. Meanwhile, Japan recorded a steady and sustained increase at 20%.
In the Americas, the company noted an exception year with 32% growth, while Europe excluding France was up by 18% thanks to the loyalty of local clients and the resumption of tourist traffic. Finally, the home market of France grew by 27%.
Hermés reports that its Leather Goods and Saddlery business performed particularly well, and sales were up by 16%. The company noted that it benefited from very sustained demand and a favourable comparison basis in the fourth quarter.
In its statement, the company noted: “The growth in production capacities continued with five site projects. These new capacities will reinforce the nine centres of expertise located across the national territory, with their production units, workshops and training centres.
“In 2023, Hermès will open two new leather goods workshops: one in Louviers (Normandie) and the other one in la Sormonne (Ardennes). The projects for new workshops sites in Riom (Puy-de-Dôme), L’Isle-d’Espagnac (Charente) and Loupes (Gironde) are ongoing. Hermès continues to reinforce its local anchoring in France in regions with strong manufacturing know-how, while also developing employment and training.”
Axel Dumas, Executive Chairman of Hermès, said: “In 2022, Hermès had an exceptional year thanks notably to the good performance of its international markets. This success reinforces our approach as an artisanal and highly integrated company, mainly in France: a design house that offers objects conceived to be functional, with an assertive style and uncompromising quality. The year underpins the relevance of our responsible and sustainable model.”
