on KERING (EPA:KER)
Kering's 2024 Annual Financial Results
Kering reported a 12% decline in revenue for 2024, totaling €17.2 billion, with similar decreases across both reported and comparable bases. The company's recurring operating income dropped 46%, reaching €2.6 billion, with a significant operational margin reduction from 24.3% in 2023 to 14.9% in 2024.
Net income attributable to Kering fell to €1.133 billion, a 62% decrease, while the proposed ordinary dividend stands at €6 per share. Free cash flow from operations was €1.4 billion, increasing to €3.6 billion when excluding real estate transactions, marking a year-on-year rise of 7%.
Gucci's revenue declined 23%, with a recurring operating income fall to €1.6 billion. Yves Saint Laurent and Bottega Veneta experienced revenue variations of -9% and +4% respectively. At the same time, Kering Eyewear and Corporate saw a 24% increase in reported revenue.
Kering continues to focus on enhancing brand desirability and exclusive distribution, ensuring financial discipline moving forward.
R. H.
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