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Financial Highlights

Key consolidated data

EUR millions and as %202320222021
Gross margin59,27754,19643,860
Gross margin as a percentage of revenue68,8%68,4%68,3%
Profit from recurring operations22,79621,05017,139
Current operating margin as a percentage of revenue26,5%26,6%26,7%
Net profit15,92114,70212,664
Net profit, minority interests’ share9,6178,9057,718
Net profit, Group share6,3045,7974,946
Cash from operations before changes in working capital29,51126,76522,611
Operating investments7,4784,9692,664
Operating free cash flow (a)8,10110,11013,518
Equity, Group share21,52719,03815,372
Minority interests38,76635,27630,995
Total equity60,29354,31446,367
Net financial debt  (b)10,5488,8679,522
Net financial debt / Total equity ratio 17,5%16,3%20,5%

(a) See the consolidated cash flow statement in the consolidated financial statements for definition of operating free cash flow.
(b) Excluding lease liabilities and purchase commitments for minority interests' shares, included in « Other non-current liabilities ».

Data per share

in euros202320222021
Earnings per share
Basic Group share of net profit per share34.9432.1327.41
Diluted Group share of net profit per share34.9332.1127.4
Dividend per share
Interim dividend5.505.003.00
Final dividend7.507.507.00
Gross amount paid for the fiscal year (a) (b)13.0012.0010,00

(a) Excluding the impact of tax regulations applicable to recipients.
(b) For 2023 fiscal year, proposed dividend at the General Meeting of April 18, 2024

Revenue per business group

202320222023/2022 Change
EUR millions and as %publishedorganic (a)
Wines & Spirits6,6027,099-7%-4%
Fashion and Leather Goods42,16938,6489%14%
Perfumes and Cosmetics8,2717,7227%11%
Watches and Jewelry10,90210,5813%7%
Selective Retailing17,88514,85220%25%
Other activities and eliminations324282nsns

(a) with comparable structure and constant exchange rates. The structural impact for the Group was zero and the currency effect was -4 %

Profit from recurring operations by business group

EUR millions and as %202320222023/2022 change
Wines & Spirits2,1092,155-2%
Fashion and Leather Goods16,83615,7097%
Perfumes and Cosmetics7136608%
Watches and Jewelry2,1622,0177%
Selective Retailing1,39153476%
Other activities and eliminations-415-279-

Revenue by business group

Revenue by geographic region of delivery

Revenue by currency