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Kering: annual net income down 62%

(CercleFinance.com) - Kering has announced a 62% drop in net income (group share) to E1.
13bn for 2024, as well as a 46% drop in operating income before non-recurring items to E2.55bn, bringing its margin down to 14.9%, from 24.3% in 2023.

Sales for the luxury goods group (Gucci, Yves Saint Laurent, Bottega Veneta) fell by 12% to E17.2bn (on a reported and comparable basis), including a 23% drop for its largest division Gucci (-21% on a comparable basis).

The Board of Directors has decided that at the AGM on 24 April it will propose the distribution of a cash dividend of E6 per share. Taking into account the interim dividend already paid on 16 January, the balance of E4 will be paid on 7 May.

In an economic and geopolitical environment that remains uncertain, Kering continues to deploy its strategy with the determination to maintain a profitable growth trajectory over the long term, it states in its outlook.


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