An outstanding 2018 performance

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    Finance
    Monday, February 11, 2019

    An outstanding 2018 performance

    LONG FORMAT DESKTOP FINANCE.jpg

    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

     

    www.kering.com

     

    Twitter: @KeringGroup

     

    LinkedIn: Kering

     

    Instagram: @kering_official

     

    YouTube: KeringGroup

     

     

    Download the press release (.pdf 478.84 KB)