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Financial Highlights

Key consolidated data

EUR millions and as %202220212020
Gross margin54,19643,86028,780
Gross margin as a percentage of revenue68,4%68,3%65,0%
Profit from recurring operations21,05017,1398,300
Current operating margin as a percentage of revenue26,6%26,7%18,6%
Net profit14,70212,6644,970
Net profit, minority interests’ share8,9057,7183,037
Net profit, Group share5,7974,9461,933
Cash from operations before changes in working capital26,76522,61113,990
Operating investments4,9692,6642,478
Operating free cash flow  (a)10,11013,5186,093
Equity, Group share19,03815,37211,270
Minority interests35,27630,99524,974
Total equity54,31446,36736,244
Net financial debt  (b)8,8679,5224,213
Net financial debt / Total equity ratio 16,3%20,5%11,6%

(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 euros202220212020
Earnings per share
Basic Group share of net profit per share32,1327,4110,72
Diluted Group share of net profit per share32,1127,4010,70
Dividend per share
Interim dividend5,003,002,00
Final dividend7,007,004,00
Gross amount paid for the fiscal year (a)12,00 (b)10,006,00

(a) Excluding the impact of tax regulations applicable to recipients.
(b) For 2022 fiscal year, proposed dividend at the General Meeting of April 20, 2023

Revenue per business group

202220212022/2021 Change
EUR millions and as %publishedorganic  (a)
Wines & Spirits7,0995,97419%11%
Fashion and Leather Goods38,64830,89625%20%
Perfumes and Cosmetics7,7226,60817%10%
Watches and Jewelry10,5818,96418%12%
Selective Retailing14,85211,75426%17%
Other activities and eliminations28219nsns

(a) with comparable structure and constant exchange rates. The structural impact for the Group was zero and the currency effect was +6 %

Profit from recurring operations by business group

EUR millions and as %202220212022/2021 change
Wines & Spirits2,1551,86316%
Fashion and Leather Goods15,70912,84222%
Perfumes and Cosmetics660684-3%
Watches and Jewelry2,0171,67920%
Selective Retailing78853448%
Other activities and eliminations-279-463-

Revenue by business group

Revenue by geographic region of delivery

Revenue by currency