Operator
Women and gents, welcome to the 2026 Q1 Income Analyst Convention. The ground is now to Eric du Halgouet, CFO; and to Alexandra Boucheron, in command of Investor Relations. Over to you.
Eric du Halgouët
Govt Vice President of Finance
Good morning, every body. Thanks very a lot for becoming a member of for this convention. The group’s consolidated income amounted to EUR 4.1 billion within the first quarter of 2026, up 6% at fixed alternate fee with double-digit progress in Americas, Japan and Europe, excluding France. Furthermore, Higher China continued its slight progress. This stage of progress is all of the extra outstanding for the reason that group has loved sturdy progress over latest years, particularly in 2024, 2025, particularly in Higher China when the remainder of trade was not rising.
Because of the important adverse affect of forex alternate charges, round EUR 300 million, gross sales declined barely by 1% at present alternate fee. On the finish of March 2026, Americas, Japan and Europe, excluding France, recorded sturdy progress in gross sales regardless of the slowdown in vacationer flows linked to the scenario within the Center East, gross sales within the group shops elevated by 7%. Moreover, wholesale exercise was considerably affected by decrease gross sales to concession shops, significantly within the Center East and in airports.
