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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Kering    KER   FR0000121485

KERING (KER)
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Kering : 2017 Profit Soars on Strong Performance From Gucci, Yves Saint Laurent

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02/13/2018 | 08:17am CEST
   By Euan Conley 
 

French luxury conglomerate Kering SA (KER.FR) said Tuesday that its net profit for 2017 more than doubled on "spectacular" growth from its two largest brands.

Net profit for the company was 1.79 billion euros ($2.20 billion), compared with EUR814 million a year earlier, which the company attributed to strong performance from its Gucci and Yves Saint Laurent brands. Recurring net income totaled EUR2 billion, it said.

Fourth-quarter sales for Kering were up 21% at EUR4.26 billion, the company said, with its flagship Gucci brand posting sales of EUR1.82 billion for the period. Gucci's annual sales were EUR6.21 billion, it said.

Yves Saint Laurent, Kering's second-largest brand, posted fourth-quarter sales of EUR407 million, compared with EUR346 million a year earlier.

The company proposed a cash dividend of EUR6 a share, a 30% year-on-year increase. Kering said it plans to distribute one Puma share to its shareholders for every 12 Kering shares held. The Puma share plan, part of Kering's strategy to reduce its holding in the German sportswear maker, will be proposed at the annual general meeting in April.

Kering added that it seeks to achieve same-store revenue growth in 2018 while ensuring a targeted and selective expansion of its store network.

Write to Euan Conley at euan.conley@dowjones.com

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Financials (€)
Sales 2018 13 442 M
EBIT 2018 3 752 M
Net income 2018 2 638 M
Debt 2018 1 952 M
Yield 2018 1,60%
P/E ratio 2018 21,91
P/E ratio 2019 19,46
EV / Sales 2018 4,51x
EV / Sales 2019 3,98x
Capitalization 58 669 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 540 €
Spread / Average Target 16%
EPS Revisions
Managers
NameTitle
François-Henri Joseph Pinault Chairman & Chief Executive Officer
Jean-Philippe Bailly Chief Operating Officer
Jean-Marc Duplaix Group Chief Financial Officer
Baudouin Prot Director
Patricia Barbizet-Dussart Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
KERING18.65%66 873
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-4.08%99 646
FAST RETAILING CO LTD2.22%44 577
ROSS STORES14.14%34 491
ZALANDO1.73%12 768
GAP-8.02%12 139