Tuesday, February 12, 2019
An outstanding 2018 performance
Consolidated revenue: €13,665.2 million
up 26.3% as reported and 29.4% on a comparable basis
Remarkable increase in recurring operating income
up 46.6% to €3,943.8 million
Sharp rise in recurring operating margin to 28.9%
Net income, Group share: €3,714.9 million, up 108.1%
Strong free cash flow from operations: €2,955.2 million
Recommended ordinary dividend of €10.50 per share
François-Henri Pinault, Chairman and Chief Executive Officer, commented: “2018 was an excellent year for Kering and its Houses. Once again, we significantly outperformed our sector. In an environment that was generally favorable but grew increasingly complex, Kering generated 2.8 billion euros in incremental revenues and 1.3 billion euros in additional EBIT compared to 2017. Our healthy, balanced and profitable growth reflects skillful execution of our strategy, rigorous financial discipline, and a shared culture emphasizing responsibility and commitment. Having worked throughout the year to strengthen the Group and its brands, we have the ambition and the means to sustain our profitable growth momentum.”
Sustained, profitable growth throughout the year against a very high base of comparison
- Consolidated revenue up 29.4% on a comparable basis to €13,665.2 million, driven by all regions
• Gucci and Saint Laurent continue to deliver exceptional growth (up 36.9% and 18.7% on a comparable basis, respectively)
• Bottega Veneta down 3.4% on a comparable basis, pending the inaugural collections from the new Creative Director
• Very strong momentum at Kering’s Other Houses (up 32.1% on a comparable basis), powered by Balenciaga and Alexander McQueen
- Record-high profitability: recurring operating income doubled over the past two years; sharp rise in recurring operating margin at 28.9%
About Kering
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2018, Kering had nearly 35,000 employees and revenue of €13.7 billion.
Contacts
Press
Emilie Gargatte +33 (0)1 45 64 61 20 emilie.gargatte@kering.com
Marie de Montreynaud +33 (0)1 45 64 62 53 marie.demontreynaud@kering.com
Analysts/investors
Claire Roblet +33 (0)1 45 64 61 49 claire.roblet@kering.com
Laura Levy +33 (0)1 45 64 60 45 laura.levy@kering.com
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup