Financials Kering

Equities

Market Closed - Euronext Paris Other stock markets 09:05:15 06/09/2024 pm IST			5-day change	1st Jan Change
236.25 ^EUR	-3.55%		-8.78%	-40.79%

06/09	CAC40: further decline, down 3.8% in one week	CF
06/09	Work is good for your health (stock market)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	15,884	13,100	17,645	20,351	19,566	18,094	19,148	20,425
Change	-	-17.52%	34.69%	15.33%	-3.86%	-7.52%	5.82%	6.67%
EBITDA ¹	6,024	4,574	6,470	7,255	6,569	4,791	5,518	6,094
Change	-	-24.06%	41.45%	12.13%	-9.46%	-27.06%	15.17%	10.43%
EBIT ¹	4,778	3,135	5,017	5,589	4,746	3,010	3,593	4,153
Change	-	-34.39%	60.03%	11.4%	-15.08%	-36.58%	19.36%	15.59%
Interest Paid ¹	-309.5	-341.7	-273.2	-260	-410	-528.5	-521.5	-494.6
Earnings before Tax (EBT) ¹	4,300	2,956	4,524	5,135	4,233	2,448	3,093	3,625
Change	-	-31.25%	53.03%	13.5%	-17.57%	-42.18%	26.38%	17.21%
Net income ¹	2,309	2,150	3,176	3,614	2,983	1,724	2,151	2,557
Change	-	-6.85%	47.68%	13.8%	-17.46%	-42.21%	24.8%	18.87%
Announcement Date	12/02/20	17/02/21	17/02/22	15/02/23	08/02/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	3,885	4,360	3,203	2,175	3,718	4,004	3,890	4,157	4,188	5,410	4,956	4,974	5,137	5,284	5,077	5,058	4,464	4,294	4,504	4,514	4,216	4,970
Change	-	12.25%	-26.54%	-32.1%	70.92%	7.71%	-2.85%	6.87%	0.74%	29.19%	-8.4%	0.37%	3.27%	2.86%	-3.92%	-0.37%	-11.74%	-3.81%	4.89%	0.22%	-6.59%	17.87%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	24/10/19	12/02/20	21/04/20	28/07/20	22/10/20	17/02/21	20/04/21	27/07/21	19/10/21	17/02/22	21/04/22	27/07/22	20/10/22	15/02/23	27/04/23	27/07/23	24/10/23	08/02/24	23/04/24	24/07/24	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2
Net sales ¹	5,378	7,722	8,047	9,598	9,930	10,421	10,135	9,431	9,018	9,176
Change	-	43.58%	4.21%	19.27%	3.46%	4.94%	-2.74%	-6.95%	-4.38%	1.75%
EBITDA ¹	-	-	2,951	3,520	-	3,638	-	2,952	2,595	2,180
Change	-	-	-	19.27%	-100%	-	-100%	-	-12.09%	-15.99%
EBIT ¹	952.4	2,183	2,237	2,780	2,820	2,769	2,739	2,007	1,582	1,400
Change	-	129.19%	2.48%	24.28%	1.43%	-1.81%	-1.08%	-26.73%	-21.18%	-11.52%
Charge d'intérêts ¹	-144.9	-196.8	-125.6	-147.6	-19	-241	-204	-206	-288	-288
Earnings before Tax (EBT) ¹	487.9	2,469	2,094	2,430	2,788	2,347	2,535	1,698	1,281	1,042
Change	-	405.96%	-15.17%	16.05%	14.73%	-15.82%	8.01%	-33.02%	-24.56%	-18.66%
Net income ¹	272.6	1,878	1,479	1,697	1,988	1,626	1,785	1,198	878	754
Change	-	588.85%	-21.24%	14.72%	17.17%	-18.21%	9.78%	-32.89%	-26.71%	-14.12%
Announcement Date	28/07/20	17/02/21	27/07/21	17/02/22	27/07/22	15/02/23	27/07/23	08/02/24	24/07/24	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,812	6,075	4,670	2,306	8,504	11,744	10,831	10,017
Change	-	116.04%	-23.13%	-50.62%	268.78%	38.1%	-7.77%	-7.52%
Announcement Date	12/02/20	17/02/21	17/02/22	15/02/23	08/02/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	955.8	786.9	934	1,071	2,611	1,923	1,316	1,338
Change	-	-17.67%	18.69%	14.67%	143.79%	-26.36%	-31.58%	1.67%
Free Cash Flow (FCF) ¹	1,521	2,102	3,942	3,208	1,983	2,890	2,928	3,436
Change	-	38.21%	87.54%	-18.61%	-38.19%	45.74%	1.3%	17.35%
Announcement Date	12/02/20	17/02/21	17/02/22	15/02/23	08/02/24	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	37.92%	34.92%	36.67%	35.65%	33.57%	26.48%	28.82%	29.84%
EBIT Margin (%)	30.08%	23.93%	28.43%	27.46%	24.26%	16.64%	18.76%	20.33%
EBT Margin (%)	27.07%	22.57%	25.64%	25.23%	21.63%	13.53%	16.15%	17.75%
Net margin (%)	14.53%	16.42%	18%	17.76%	15.25%	9.53%	11.23%	12.52%
FCF margin (%)	9.57%	16.04%	22.34%	15.76%	10.13%	15.97%	15.29%	16.82%
FCF / Net Income (%)	65.87%	97.74%	124.11%	88.77%	66.48%	167.66%	136.09%	134.36%
Profitability
ROA	13.24%	7.15%	10.75%	11.12%	7.92%	4.09%	5.47%	6.44%
ROE	31.82%	17.85%	25.24%	25.34%	19.37%	11.33%	13.24%	14.76%
Financial Health
Leverage (Debt/EBITDA)	0.47x	1.33x	0.72x	0.32x	1.29x	2.45x	1.96x	1.64x
Debt / Free cash flow	1.85x	2.89x	1.18x	0.72x	4.29x	4.06x	3.7x	2.92x
Capital Intensity
CAPEX / Current Assets (%)	6.02%	6.01%	5.29%	5.26%	13.34%	10.63%	6.87%	6.55%
CAPEX / EBITDA (%)	15.87%	17.2%	14.43%	14.76%	39.75%	40.13%	23.84%	21.95%
CAPEX / FCF (%)	62.85%	37.44%	23.7%	33.39%	131.67%	66.53%	44.93%	38.93%
Items per share
Cash flow per share ¹	19.73	23.11	39.13	34.7	36.43	26.16	30.68	33.9
Change	-	17.13%	69.35%	-11.34%	5.01%	-28.21%	17.28%	10.51%
Dividend per Share ¹	11.5	8	12	14	14	9.202	10.6	11.66
Change	-	-30.43%	50%	16.67%	0%	-34.27%	15.19%	9.98%
Book Value Per Share ¹	81.36	94.63	107.6	114.5	124.1	124.9	134.5	140
Change	-	16.31%	13.68%	6.47%	8.35%	0.67%	7.64%	4.14%
EPS ¹	18.4	17.2	25.49	29.31	24.37	14.07	17.66	21.08
Change	-	-6.52%	48.2%	14.99%	-16.85%	-42.26%	25.53%	19.32%
Nbr of stocks (in thousands)	1,25,018	1,24,937	1,23,744	1,22,233	1,21,646	1,22,587	1,22,587	1,22,587
Announcement Date	12/02/20	17/02/21	17/02/22	15/02/23	08/02/24	-	-	-