2015 First-Half Results - Sharp sales uplift in second quarter
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First-half revenue
€5,513 million, up 17.0% (up 3.5% on a comparable basis)
Luxury activities: €3,762 million, up 17.8% (up 2.8% on a comparable basis)
Recurring operating income
Group: €773 million - Operating margin: 14.0%
Luxury activities: stable at €806 million - Operating margin: 21.4%
Net income, Group share more than doubled
- Sound growth in Luxury sales
o New creative impetus at Gucci
o Good sales dynamic at Bottega Veneta
o Robust growth at Yves Saint Laurent
- Ongoing growth at Puma driven by relaunch plan
- Resilient margins despite negative impact of currency hedges.
François-Henri Pinault, Kering's Chairman and Chief Executive Officer, commented: "Kering delivered a sound performance in the first half of 2015, buoyed by strong sales growth in the second quarter in a volatile economic and currency environment. Our integrated, responsive business model enables us to capture growth in the most dynamic markets. Our Luxury activities, lifted by sales in our directly operated stores across mature markets, continued on a strong upward trend, reflecting the relevance of our strategy and the action plans in place. We are particularly satisfied with the progress at Gucci and the positive reception given to the brand’s new creative direction. As we enter the second half of the year, I am fully confident in the Group's ability to combine strict management discipline with organic growth at each of our brands."
About Kering
A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Ulysse Nardin, PUMA, Volcom, Cobra and Electric. By ‘empowering imagination’ in the fullest sense, Kering encourages its brands to reach their potential, in the most sustainable manner.
Present in more than 120 countries, the Group generated revenues of €10 billion in 2014 and had more than 37,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).
Contacts
Press
Hélène Saint-Raymond +33 (0)1 45 64 61 20 helene.saint-raymond@kering.com
Floriane Geroudet +33 (0)1 45 64 66 00 floriane.geroudet@kering.com
Analysts/investors
Claire Roblet + 33 (0)1 45 64 61 49 claire.roblet@kering.com
Edouard Crowley + 33 (0)1 45 64 63 28 edouard.crowley@kering.com
Website: www.kering.com
Twitter: @KeringGroup