Image credit: Bucellati
Sales in China were up by 78% at actual exchange rates that partly mitigated double digit declines in Europe, the Americas and Japan.
The Group’s gross and net cash positions at 30 September 2020 of € 7 128 million and € 2 111 million, respectively.
Johann Rupert, the сompany's chairman, commented: "Throughout the first six months of our financial year, the Covid-19 pandemic impacted our trading and operations with unprecedented levels of disruption. Sales decreased by 25% at constant exchange rates and by 26% at actual exchange rates to € 5.48 billion. All regions, channels and business areas were affected, notwithstanding a 78% increase in China versus the prior year period at actual exchange rates. As the world gradually reopened for business and international travel, the sales decline in the second quarter was limited to 2% at constant exchange rates and 5% at actual exchange rates, a marked improvement compared to a 47% contraction in the first quarter (both at actual and constant exchange rates)."
Alex Shishlo for Rough&Polished
