Kering: Group share of net income of 878 ME in the 1st half of the year
(CercleFinance.com) - Sales amounted to 9.
0 billion euros in the first half of 2024 (down 11% on both a reported and comparable basis).
Sales reached 4.5 billion euros in the second quarter of 2024, also down 11% on a reported and comparable basis.
Group operating income recurring came to 1.6 billion euros in the first half, down 42%, in line with the guidance given at the time of publication of first-quarter 2024 sales. The operating margin before non-recurring items was 17.5%.
Group share of net income for the first half of 2024 amounted to E878 million. Operating free cash flow remained at a high level over the half-year, at 1.9 billion euros excluding property acquisitions. Including the acquisition of a prestigious real estate asset on Fifth Avenue in New York, it stood at 1.1 billion euros.
Given the uncertainties surrounding the evolution of consumer demand in the Luxury Goods sector over the coming months, after the slowdown observed in the first half of 2024, Kering's operating income recurring in the second half of 2024 could be down by around 30% compared with the second half of 2023', the group points out.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
0 billion euros in the first half of 2024 (down 11% on both a reported and comparable basis).
Sales reached 4.5 billion euros in the second quarter of 2024, also down 11% on a reported and comparable basis.
Group operating income recurring came to 1.6 billion euros in the first half, down 42%, in line with the guidance given at the time of publication of first-quarter 2024 sales. The operating margin before non-recurring items was 17.5%.
Group share of net income for the first half of 2024 amounted to E878 million. Operating free cash flow remained at a high level over the half-year, at 1.9 billion euros excluding property acquisitions. Including the acquisition of a prestigious real estate asset on Fifth Avenue in New York, it stood at 1.1 billion euros.
Given the uncertainties surrounding the evolution of consumer demand in the Luxury Goods sector over the coming months, after the slowdown observed in the first half of 2024, Kering's operating income recurring in the second half of 2024 could be down by around 30% compared with the second half of 2023', the group points out.
Copyright (c) 2024 CercleFinance.com. All rights reserved.