Kering Sa Ord (PPRUF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us this morning. We are pleased to welcome you to our Caring 2025 Folio Results. We are here with Luca De Meo, CEO of Caring, Jean-Marc Duplex, CEO of Caring, and Armel Poulou, CFO. This presentation will be followed by a Q&A session. Luca, the floor is yours. Thank you, Philippine. Good morning, everyone. Very happy to be with you today. Of course 2025 was not the year we wanted. I think it didn't reflect the full potential of Caring and we all know it here. But what matters is our response. Swift, disciplined and unwavering. Since the second half of the year I can assure you we have been taking action decisively to put the group back on the right trajectory. I think we're still far from where we want to be. We don't have everything in place yet, but we're building every day with focus. Our objective is clear. Reignite desirability. and prepare the next cycle of growth, house by house, product by product, client by client. So 2025 was a turning point, not because of the numbers, but because of the decision we started to take. And I want to thank Francois Henry and the Caring Board of Directors for their trust, their support. This trust allowed us to move fast, and to start shaping the strategy we will present during our Capital Market Day in May. Over the last month, we strengthened our financial flexibility, we reshaped parts of our portfolio, and we made bold strategic moves to give our houses the space and the time they need to regain momentum. A very important step, of course, was the partnership with L'Oréal. It allows us to accelerate the development of our beauty business with the number one player in the world, unlocking power that we could not reach alone. And also prepare our entry into the high growth, wel...