Kering Sa · EURONEXT:KER
Kering Sa — Kering Sa Ord — Q1 2025 Earnings Presentation
20 slides from Kering Sa's earnings presentation, Apr 23, 2025
Slide 1: 2025 Q1 Revenue
2025 Q1 REVENUE April 23, 2025 KERING April 23,2025 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: KERING April 23,2025
3 KERING April 23,2025
Slide 4: Agenda
AGENDA REVIEW OF Q1 REVENUE Armelle Poulou, Group CFO Q&A Francesca Bellettini, Deputy CEO, Brand Development Armelle Poulou, Group CFO KERING April.23,2025 4
Slide 5: Q1 25 Group Revenue
Q1 25 GROUP REVENUE REVENUE CHANGE HIGHLIGHTS (in €m and change YoY) • REVENUE -14% REPORTED AND COMPARABLE -14% reported – UNCERTAIN MACRO ENVIRONMENT 4,504 WEIGHING ON CONSUMER CONFIDENCE – SLOW START TO THE YEAR, MODERATE +0% 3,883 SEQUENTIAL DECELERATION IN RETAIL -14% -0% – WHOLESALE DOWN IN LI
Slide 6: Q1 25 Group Revenue by segment and region
Q1 25 GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT REVENUE BREAKDOWN BY REGION (as a % of Q1 25 total revenue and % YoY reported change) In €m Change (%) RoW Western Europe Q1 25 Q1 24 Reported Comp. 10% (+1pt) 28% (+1pt) Gucci 1,571 2,079 -24% -25% Saint Laurent 679 740 -8% -9% Bottega Veneta 405 388
Slide 7: Q1 Group Revenue by Channel and Region
Q1 25 GROUP REVENUE BY CHANNEL AND REGION 73% 27% RETAIL INCL. E-COMMERCE WHOLESA LE A ND OT HER -16% -9 % WHOLESALE LUXURY BRANDS -23% WESTERN NORTH JAPAN ASIA ROW EUROPE AMERICA PACIFIC - 13% -13% -11% -25% +1% WHOLESALE KERING EYEWEAR & BEAUTÉ +2% DIRECTLY OPERATED STORES O/W ROYALTIES OUTLETS &
Slide 8: Gucci Q1 Revenue: -24% Reported, -25% Comparable
Q1 25 REVENUE: -24% REPORTED, -25% COMPARABLE (in €m, and YoY comparable growth in %) 2,079 +2% 1,571 -25% -33% 91% of sales Q1 24 Retail Wholesale Royalties Q1 25 and others RETAIL DOWN 25% COMP • Subdued traffic, AUR up driven by positive mix impact • Carryovers still a heavy drag on performance •
Slide 9: Saint Laurent Q1 Revenue: -8% Reported, -9% Comparable
Q1 25 REVENUE: -8% REPORTED, -9% COMPARABLE (in €m, and YoY comparable growth in %) 740 +20% 679 -8% -24% 78% of sales Q1 24 Retail Wholesale Royalties Q1 25 and others RETAIL DOWN 8% COMP • Very limited sequential deceleration vs. Q4, good resilience in Western markets • SS 25 collection well recei
Slide 10: Bottega Veneta Q1 Revenue: +4% Reported, +4% Comparable
Q1 25 REVENUE: +4% REPORTED, +4% COMPARABLE (in €m, and YoY comparable growth in %) +7% +3% 405 -13% 388 87% of sales Q1 24 Retail Wholesale Royalties Q1 25 and others RETAIL UP 7% COMP • Remarkable performance on demanding comparison base • Retail presence elevation, 4 net DOS closure • High double
Slide 11: Other Houses
OTHER HOUSES Q1 25 REVENUE: -11% REPORTED, -11% COMPARABLE (in €m, and YoY comparable growth in %) 824 -9% 733 -17% -7% 74% of sales Q1 24 Retail Wholesale Royalties Q1 25 and others MIXED PERFORMANCE IN SOFT LUXURY • Balenciaga: strong Leather Goods performance, in weak traffic environment and ongo
Slide 12: Kering Eyewear and Corporate
KERING EYEWEAR AND CORPORATE Q1 25 REVENUE: +4% REPORTED, +3% COMPARABLE In €m Change (%) Q1 25 Q1 24 Reported Comp. Kering Eyewear 476 463 +3% +2% Kering Beauté 71 66 +8% +6% Other 11 7 N/A N/A Kering Eyewear and 558 536 +4% +3% Corporate KERING EYEWEAR • Good start to the year driven by Europe and
Slide 13: Conclusion
CONCLUSION 13 KERING April 23,2025
Slide 14: Q&A
Q&A KERING April 23,2025 14
Slide 15: Appendix
APPENDIX KERING April 23,2025 15
Slide 16: Gucci Q1 2025 Revenue Quarterly Performance
Q1 2025 REVENUE €1,571m -24% REPORTED, -25% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2025 (net change vs. YE 24) RoW Western Europe RoW Western Europe 64 (+1 net) 102 (-1 net) 9% 24% Asia Pacific 519 North America Asia Pacific 176 (-4 net) 111 (-3 net) 35% Nort
Slide 17: Saint Laurent Q1 2025 Revenue Quarterly Performance
Q1 2025 REVENUE €679m -8% REPORTED, -9% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2025 (net change vs. YE 24) RoW Western Europe RoW Western Europe 31 (+1 net) 72 (+1 net) 10% 32% Asia Pacific 317 North America Asia Pacific 116 (-1 net) 65 (-1 net) 28% North Ame
Slide 18: Bottega Veneta Q1 2025 Revenue Quarterly Performance
Q1 2025 REVENUE €405m +4% REPORTED, +4% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2025 (net change vs. YE 24) RoW Western Europe RoW Western Europe 26 (+3 net) 65 (-1 net) 12% 25% Asia Pacific 303 North America Asia Pacific 115 (-4 net) 54 (-1 net) 31% North Ame
Slide 19: Other Houses Q1 2025 Revenue
OTHER HOUSES Q1 2025 REVENUE €733m -11% REPORTED, -11% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of March 31, 2025 (net change vs. YE 24) RoW Western Europe RoW Western Europe 37 (+1 net) 131 (-3 net) 8% 27% Asia Pacific 629 North America Asia Pacific 288 (-4 net) 82 (-2 net
Slide 20: Kering brand list
Gucci • Saint Laurent • Bottega Veneta • Balenciaga • Alexandre McQueen • Brioni Boucheron • Pomellato • Dodo • Qeelin • Ginori 1735 Kering Eyewear • Kering Beauté