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Kering consolidated revenue up 26.8% in 2018 first half

Aug '18
Courtesy: Kering/ Bottega-Veneta
Courtesy: Kering/ Bottega-Veneta
The consolidated revenue of Kering, a global luxury group, in the first half of fiscal 2018 amounted to €6,431.9 million, up an outstanding 26.8 per cent as reported and 33.9 per cent based on a comparable group structure and exchange rates. This sharp year-on-year increase was driven by extremely strong sales growth in both mature and emerging markets.

Kering’s gross margin came to €4,776.3 million, up 30.0 per cent during the same period of 2017. The recurring operating income hit a record high of €1,771.9 million, up 53.1 per cent year on year, and consolidated recurring operating margin advanced to 27.5 per cent.

For the reported period, the EBITDA jumped 47.6 per cent to €2,021.6 million and the EBITDA margin widened to 31.4 per cent. Net income share surged 185.7 per cent to €2,359.6 million. Earnings per share stood at €18.74 versus €6.55 for first-half 2017. The recurring net income, group share came to €1,262.2 million (up 54.9 per cent) and net income from discontinued operations totaled €1,148.2 million, primarily from the capital gain resulting from the loss of control of PUMA.

"Kering achieved dazzling top-line and earnings performances in the quarter and six months. Our growth, grounded in the exclusivity and desirability of our brands, is remarkably healthy. The development model we implement across our Houses paves the way for increased value creation as well as profitable, sustained and consistent organic growth. While facing increasingly demanding comps and an uncertain global environment, we will once again substantially enhance our financial and operating performances in 2018," François-Henri Pinault, chairman and chief executive officer. (RR)

Fibre2Fashion News Desk – India

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