Kering Sa · EURONEXT:KER
Kering Sa — Kering Sa Ord — Q3 2025 Earnings Presentation
22 slides from Kering Sa's earnings presentation, Oct 22, 2025
Slide 1: 2025 Q3 Revenue
2025 Q3 REVENUE October 22, 2025 KERING October 22,2025 1
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, in the United States of America or in any other jurisdiction. Certain information contained in this presentation may include perspectives and trends or o
Slide 3: Agenda
AGENDA REVIEW OF Q3 REVENUE Armelle Poulou, Group CFO CONCLUSION AND Q&A Jean-Marc Duplaix, Group COO Armelle Poulou, Group CFO KERING October 22,2025 3
Slide 4: Q3 2025 Highlights
Q3 2025 | HIGHLIGHTS SPRING SUMMER 26 FASHION SHOWS KERING October 22,2025 4
Slide 5: Q3 25 Group Revenue
Q3 25 GROUP REVENUE REVENUE CHANGE HIGHLIGHTS (in €mn and change YoY) • REVENUE -10% REPORTED AND -5% -10% reported COMPARABLE 3,786 – FX A SIGNIFICANT HEADWIND – SUBSTANTIAL SEQUENTIAL IMPROVEMENT -5% -0% 3,415 (10PPT) PARTLY HELPED BY EASIER COMP -5% BASE (5PPT) • RETAIL DYNAMICS – ALL REGIONS CON
Slide 6: Q3 25 Group Revenue by Segment and Region
Q3 25 GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT REVENUE BREAKDOWN BY REGION (as a % of Q3 25 total revenue and % YoY reported change) In €mn Change (%) RoW Western Europe Q3 25 Q3 24 Reported Comp. 8% (=) 33% (+1pt) Gucci 1,343 1,641 -18% -14% Yves Saint Laurent 620 670 -7% -4% Bottega Veneta 393 3
Slide 7: Q3 25 Group Revenue by Channel
Q3 25 | GROUP REVENUE BY CHANNEL 74% 26% RET A I L I NCL. E-COMMER CE WHOLESALE AND OTHER -2% -6% -9% -12% -16% -16% Q1 Q2 Q3 Q1 Q2 Q3 WHOLESALE WHOLESALE ROYALTIES DIRECTLY OPERATED STORES* LUXURY BRANDS KERING EYEWEAR & & OTHER BEAUTÉ +11% +5% +7% +2% +2% 1,758 Q1 Q2 Q3 +1% -55 NET VS. YE 24 Q1 Q2
Slide 8: Q3 25 Retail Revenue by Region
Q3 25 | RETAIL REVENUE BY REGION YOY COMPARABLE CHANGE WESTERN EUROPE NORTH AMERICA JAPAN ASIA PACIFIC ROW Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 +3% +1% +2% -7% -5% -10% -11% -10% -13% -13% -16% -17% -19% -29% -25% KERING October 22,2025 % comparable change: at constant scope and exchange rat
Slide 9: Gucci Q3 Revenue: -18% Reported, -14% Comparable
Q3 25 REVENUE: -18% REPORTED, -14% COMPARABLE (in €mn, and YoY comparable growth in %) 1,641 1,343 -13% -25% -6% 92% of sales Q3 24 Retail Wholesale Royalties Q3 25 and others RETAIL DOWN 13% COMP • 10ppt sequential improvement driven by N. America and W. Europe • Traffic decline moderating, AUR up
Slide 10: Yves Saint Laurent Q3 Revenue: -7% Reported, -4% Comparable
Q3 25 REVENUE: -7% REPORTED, -4% COMPARABLE (in €mn, and YoY comparable growth in %) 670 -2% +4% 620 -16% 77% of sales Q3 24 Retail Wholesale Royalties Q3 25 and others RETAIL DOWN 2% COMP • Positive performance in full-price stores • North America turning positive, Western Europe down only LSD • Wa
Slide 11: Bottega Veneta Q3 Revenue: -1% Reported, +3% Comparable
Q3 25 REVENUE: -1% REPORTED, +3% COMPARABLE (in €mn, and YoY comparable growth in %) 397 +5% +37% 393 -9% 88% of sales Q3 24 Retail Wholesale Royalties Q3 25 and others RETAIL UP 5% COMP • Sustained DD growth in N.America on high comps, W.Europe and Middle-East up, APAC close to flat, modest decline
Slide 12: Other Houses
OTHER HOUSES Q3 25 REVENUE: -5% REPORTED, +1% COMPARABLE (in €mn, and YoY comparable growth in %) 686 +5% 652 +0% +6% 77% of sales Q3 24 Retail Wholesale Royalties Q3 25 and others IMPROVING PERFORMANCE IN SOFT LUXURY • Balenciaga sequential improvement led by North America • McQueen decline moderat
Slide 13: Kering Eyewear and Corporate
KERING EYEWEAR AND CORPORATE Q3 25 REVENUE: +2% REPORTED, +6% COMPARABLE In €mn Change (%) Q3 25 Q3 24 Reported Comp. Kering Eyewear 352 343 +2% +7% Kering Beauté 88 89 -1% +3% Other 8 8 -1% +3% Kering Eyewear and 448 440 +2% +6% Corporate KERING EYEWEAR • Solid quarter across key regions and portfo
Slide 14: Conclusion
CONCLUSION Strategic priorities Alliance in beauty and wellness with L’Oréal Deleveraging trajectory Valentino | Mayhoola Real estate refinancing KERING October 22,2025 14
Slide 15: Q&A
Q&A KERING October 22,2025 15
Slide 16: Appendix
APPENDIX KERING October 22,2025 16
Slide 17: 9M Group Revenue Breakdown by Segment
9M 25 GROUP REVENUE BREAKDOWN BY SEGMENT In €mn 9M Change (%) 9M 25 9M 24 Reported Comp. Gucci 4,370 5,726 -24% -22% Yves Saint Laurent 1,908 2,111 -10% -8% Bottega Veneta 1,239 1,233 +0% +2% Other Houses 2,111 2,403 -12% -9% Kering Eyewear & 1,540 1,507 +2% +4% Corporate Eliminations (166) (176) n.
Slide 18: Gucci Q3 2025 Revenue Quarterly Performance
Q3 2025 REVENUE €1,343 million -18% REPORTED, -14% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION as of September 30, 25 (net change vs. YE 24) RoW Western Europe RoW Western Europe 62 (-1 net) 100 (-3 net) 7% 33% Asia Pacific North America Asia Pacific 503 168 (-12 net) 110 (-4 net
Slide 19: Yves Saint Laurent Q3 2025 Revenue Quarterly Performance
Q3 2025 REVENUE €620 million -7% REPORTED, -4% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION as of September 30, 25 (net change vs. YE 24) RoW RoW 31 (+1 net) Western Europe 9% Western Europe 73 (+2 net) 39% Asia Pacific Asia Pacific 315 25% 115 (-2 net) Japan North America Japan N
Slide 20: Bottega Veneta Q3 2025 Revenue Quarterly Performance
Q3 2025 REVENUE €393 million -1% REPORTED, +3% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION as of September 30, 25 (net change vs. YE 24) RoW Western Europe RoW 26 (+3 net) 65 (-1 net) 9% Western Europe 34% Asia Pacific North America Asia Pacific 301 112 (-7 net) 56 (+1 net) 26% J
Slide 21: Other Houses
OTHER HOUSES Q3 2025 REVENUE €652 million -5% REPORTED, +1% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION as of September 30, 25 (net change vs. YE 24) RoW Western Europe RoW 38 (+2 net) 131 (-3 net) 6% Western Europe 29% Asia Pacific North America Asia Pacific 618 278 (-14 net) 80
Slide 22: Kering Houses and Brands
GUCCI | SAINT LAURENT | BOTTEGA VENETA | BALENCIAGA | McQUEEN | BRIONI BOUCHERON | POMELLATO | DODO | QEELIN | GINORI 1735 KERING BEAUTÉ | KERING EYEWEAR