Hermes Reports Robust Profit Growth for 2024

The French luxury goods powerhouse, Hermes, has announced a notable increase in annual profits for the year 2024. The company reported a profit of €4.6 billion (approximately $4.8 billion), translating to €43.87 per share. This marks a 7% increase from the previous year’s profits of €4.3 billion, or €41.12 per share, recorded in 2023.

In addition to profit growth, Hermes also saw its revenues rise by 13% to €15.2 billion from €13.4 billion in 2023.

In line with its positive financial performance, Hermes plans to propose a dividend distribution to shareholders of €16 per share at the upcoming general assembly meeting scheduled for April 30. The company will deduct €3.5 per share, which will be distributed on February 19, from the profits approved by the General Assembly.

Furthermore, there will be a proposal for an exceptional dividend of €10 per share presented during the meeting.

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