Financial Highlights

 Sales increased by 29 % to € 8 867 million at actual exchange rates and by 30% at constant currency

 Operating profit rose by 51 % to € 2 040 million

 Operating margin reached 23 % of sales

 Healthy cash flow generated from operations: € 1 789 million

 Proposed dividend: CHF 0.55 per share, representing an increase of 22 %

Executive Chairman and Chief Executive Officer’s Commentary

Results:

We are pleased to report that Richemont has achieved strong sales growth across all segments and all geographic regions, despite a volatile and diverse economic environment.

The Group’s Jewellery Maisons and its Specialist Watchmakers have reported record sales and profits, despite the strength of the Swiss franc and the rising cost of precious materials and input costs.

Montblanc continued to grow and reported increased profits. Richemont’s Fashion and Accessories Maisons also performed well. Net-a-Porter continues to enjoy sales growth above the Group average, while at the same time investing in structural expansion.

Further to the announcement in January, the Group’s operating profit is significantly higher than the prior year: at € 2 040 million it is 51% above last year’s level.

These performances reflect the commitment and efforts of all our colleagues, the strength of our Maisons and the leverage provided by the Group’s shared services.

Europe:

Solid double-digit organic growth was registered across the region. Sales in the region were boosted by the growing number of travellers from other parts of the world and Net-a-Porter’s performance. The Middle East and Africa, which accounted for 16 % of sales in the region, reported strong double-digit growth.

Asia-Pacific:

Now representing 42% of Group sales, the Asia-Pacific region reported another year of sustained broad-based growth, particularly in Hong Kong and mainland China. The Group’s selective expansion of its retail network in recent years contributed to the strong year-on-year growth.

Americas:

The Americas region reported robust double-digit growth reflecting the growing demand for jewellery and watches as well as Net-a-Porter’s performance.

Japan:

Sales in Japan grew, notwithstanding the continuing challenges the country faces following the dramatic events of March 2011.

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