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Sustained, profitable growth throughout 2018 at Kering

13
Feb '19
Courtesy: Alexander-Mcqueen/ Kering
Courtesy: Alexander-Mcqueen/ Kering
Kering has witnessed sustained and profitable growth throughout 2018. Consolidated revenue totaled €13,665.2 million, up 26.3 per cent as reported and 29.4 per cent on a comparable basis, driven by all regions. The recurring operating income also soared 46.6 per cent to €3,943.8 million. At €2,955.2 million, there was strong free cash flow from operations.

Throughout 2018, Gucci and Saint Laurent continued to deliver exceptional growth (up 36.9 per cent and 18.7 per cent on a comparable basis, respectively). While, revenue at Bottega Veneta went down 3.4 per cent on a comparable basis, pending the inaugural collections from the new creative director.

“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," François-Henri Pinault, chairman and chief executive officer, said. (RR)

Fibre2Fashion News Desk – India


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