Kering Sa · EURONEXT:KER
Kering Sa — Kering Sa Ord — Q3 2024 Earnings Presentation
22 slides from Kering Sa's earnings presentation, Oct 23, 2024
Slide 1: 2024 Third Quarter Revenue
2024 THIRD QUARTER REVENUE OCTOBER 23, 2024
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: Slide 3
Slide 4: Q3 Group Revenue
Q3 24 GROUP REVENUE KEY HIGHLIGHTS REVENUE CHANGE (in €m and comparable change YoY) • REVENUE -15% REPORTED, -16% COMPARABLE – W ORSENING MACRO BACKDROP W EIGHING ON CONSUMER SENTIMENT -15% – W EAK TRAFFIC reported 4,464 – W HOLESALE RATIONALIZATION ONGOING – FX A SLIGHT NEGATIVE, POSITIVE SCOPE FRO
Slide 5: Q3 Group Revenue by Segment and Region
Q3 24 GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT REVENUE BREAKDOWN BY REGION (in €m) (as a % of Q3 24 total revenue and YoY reported change) Change (%) Q3 24 Q3 23 RoW Western Europe Revenue Revenue Reported Comp. 8% (+1pt) 32% (+2pt) Gucci 1,641 2,217 -26% -25% Saint Laurent 670 768 -13% -12% Botte
Slide 6: Q3 Group Revenue by Channel
Q3 24 GROUP REVENUE BY CHANNEL 75% 25% R E T AI L I N C L . E - C O M M ER C E W H O L E S AL E AN D O T H E R -7% -6% -11% -12% -12% -17% Q1 24 Q2 24 Q3 24 Q1 24 Q2 24 Q3 24 DIRECTLY OPERATED STORES W HOLESALE W HOLESALE ROYALTIES LUXURY BRANDS KERING EYEW EAR & & OTHER BEAUTÉ +16% +16% +18% 1,816
Slide 7: Q3 Retail Revenue by Region
Q3 24 RETAIL REVENUE BY REGION YOY COMPARABLE CHANGE WESTERN EUROPE NORTH AMERICA JAPAN ASIA PACIFIC ROW Q1 24 Q2 24 Q3 24 Q1 24 Q2 24 Q3 24 Q1 24 Q2 24 Q3 24 Q1 24 Q2 24 Q3 24 Q1 24 Q2 24 Q3 24 +27% +16% +6% +3% +2% -2% -9% -8% -11% -11% -11% -15% -19% -25% -30% % comparable change: at constant sco
Slide 8: Gucci Q3 Revenue
Q3 24 REVENUE: -26% REPORTED, -25% COMPARABLE (in €m, and YoY comparable growth in %) 2,217 +9% 1,641 -25% -38% 91% of Q3 sales Q3 23 Retail Wholesale Royalties Q3 24 & other • FUNDAMENTALS SECURED – Oversized im pact from m arket conditions, esp. in APAC – Newness representing c.35% of Q3 sales on
Slide 9: Saint Laurent Q3 Revenue
Q3 24 REVENUE: -13% REPORTED, -12% COMPARABLE (in €m, and YoY comparable growth in %) 768 +17% 670 -12% -20% 76% of Q3 sales Q3 23 Retail Wholesale Royalties Q3 24 & other • FURTHER ENRICHING COLLECTIONS – Success of seasonal variations and new handbag introductions – Solid line up of launches befor
Slide 10: Bottega Veneta Q3 Revenue
Q3 24 REVENUE: +4% REPORTED, +5% COMPARABLE (in €m, and YoY comparable growth in %) +9% 397 381 -10% n.s. 86% of Q3 sales Q3 23 Retail Wholesale Royalties Q3 24 & other • CONSISTENTLY PERFORMING – Sustained retail growth fueled by iconization strategy and highly successful leather goods proposition
Slide 11: Other Houses
OTHER HOUSES Q3 24 REVENUE: -15% REPORTED, -14% COMPARABLE (in €m, and YoY comparable growth in %) 805 -10% +6% 686 -28% 77% of Q3 sales Q3 23 Retail Wholesale Royalties Q3 24 & other • CHALLENGING TRENDS FOR SOFT LUXURY HOUSES – Success of new handbag lines at Balenciaga but weak traffic affecting
Slide 12: Kering Eyewear and Corporate
KERING EYEWEAR AND CORPORATE Q3 24 REVENUE (in €m, and YoY growth in %) +97 440 +4% 331 +4% 343 +0% Q3 23 Comparable FX Q3 24 Other incl. Q3 24 Kering Kering Kering Kering Eyewear Eyewear Beauté Eyewear and Corporate • SOLID PERFORMANCE IN EYEWEAR — Growth across key brands — Continued investments b
Slide 13: Conclusion
CONCLUSION
Slide 14: Conclusion
CONCLUSION ▪ W E ARE METHODICALLY EXECUTING ON OUR STRATEGY ▪ IN THE CURRENT ENVIRONMENT, NOTW ITHSTANDING STRINGENT OPEX AND CAPEX ACTION PLANS, W E EXPECT FY24 EBIT AROUND €2.5BN ▪ ALL OUR INITIATIVES ARE FOCUSED ON BUILDING HEALTHY, SUSTAINABLE TOP LINE GROW TH 23.10.2024 14
Slide 15: Boucheron
BOUCHERON ERON BOUCH Tn SEOGREREARORRORORERRRERE DDR!
Slide 16: Appendix
APPENDIX
Slide 17: 9M Group Revenue
9M 24 GROUP REVENUE REVENUE BREAKDOWN BY SEGMENT % YoY change €M 9M Change (%) 9M 24 9M 23 Reported Comp. Gucci 5,726 7,345 -22% -21% Saint Laurent 2,111 2,344 -10% -9% Bottega Veneta 1,233 1,214 +2% +4% Other Houses 2,403 2,661 -10% -8% Kering Eyewear & 1,507 1,202 +25% +7% Corporate Eliminations (
Slide 18: Gucci Q3 2024 Revenue
Q3 2024 REVENUE €1,641m -26% REPORTED, -25% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of September 30, 24 (net change vs. June 30, 24) RoW Western Europe RoW Western Europe 65 (+0 net) 103 (-2 net) 7% 29% Asia Pacific North America Asia Pacific 183 (-2 net) 533 31% 114 (+2 n
Slide 19: Saint Laurent Q3 2024 Revenue
Q3 2024 REVENUE €670m -13% REPORTED, -12% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of September 30, 24 (net change vs. June 30, 24) RoW RoW 31 (+0 net) Western Europe 8% Western Europe 71 (+0 net) 38% Asia Pacific Asia Pacific 321 27% 117 (+1 net) Japan North America Japan
Slide 20: Bottega Veneta Q3 2024 Revenue
Q3 2024 REVENUE €397m +4% REPORTED, +5% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of September 30, 24 (net change vs. June 30, 24) RoW Western Europe RoW 24 (+0 net) 64 (+0 net) 9% Western Europe 34% Asia Pacific North America Asia Pacific 119 (+2 net) 303 28% 53 (+0 net) Ja
Slide 21: Other Houses Q3 2024 Revenue
OTHER HOUSES Q3 2024 REVENUE €686m -15% REPORTED, -14% COMPARABLE DIRECTLY OPERATED STORES REVENUE BREAKDOWN BY REGION As of September 30, 24 (net change vs. June 30, 24) RoW Western Europe RoW 36 (+1 net) 135 (+2 net) 6% Western Europe 30% Asia Pacific 636 North America Asia Pacific 295 (+7 net) 84
Slide 22: Kering brands and houses
Gucci • Saint Laurent • Bottega Veneta • Balenciaga • Alexander McQueen • Brioni Boucheron • Pomellato • Dodo • Qeelin • Ginori 1735 Kering Eyewear • Kering Beauté