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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Kering    KER   FR0000121485

KERING

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Kering : More Than Doubled Net Profit in 2018, Raises Dividend

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02/12/2019 | 02:03am EDT

By Cristina Roca

Kering (KER.FR) said Tuesday that its net profit more than doubled in 2018 compared with 2017 and raised its dividend for the year.

The French luxury-goods company said its net profit rose to 3.71 billion euros ($4.19 billion) from EUR1.79 billion in 2017, beating analysts' expectations of EUR2.79 billion net profit for the year, according to a consensus estimate provided by FactSet.

Kering's fourth-quarter revenue rose 25% from the same period a year earlier to EUR3.83 billion, falling in line with consensus expectations of EUR3.81 billion, according to FactSet.

The owner of Gucci said revenue for the year totaled EUR13.67 billion compared with EUR10.51 billion a year earlier.

Revenue at Gucci, Kering's flagship brand, grew 28% to EUR2.34 billion in the fourth quarter. Recurring operating margin at the brand expanded to 39.5% by the end of the year, Kering said.

Revenue at Yves Saint Laurent, another brand owned by Kering, rose 20% in the last quarter of the year, while revenue at the Bottega Veneta label, which is in the midst of a turnover, fell 2.4%.

The company proposed a cash dividend of EUR10.50 a share, up from EUR6 the year before.

Kering said that for 2019, it will aim to further improve its operating performance, maintain a high level of cash-flow generation, and keep growing its return on capital employed, and that it continues to focus on its same-store growth strategy.

Write to Cristina Roca at cristina.roca@dowjones.com

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Financials (€)
Sales 2019 15 695 M
EBIT 2019 4 660 M
Net income 2019 3 239 M
Debt 2019 675 M
Yield 2019 2,34%
P/E ratio 2019 19,53
P/E ratio 2020 17,48
EV / Sales 2019 4,15x
EV / Sales 2020 3,72x
Capitalization 64 453 M
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 561 €
Spread / Average Target 10,0%
EPS Revisions
Managers
NameTitle
François Jean Henri Pinault Chairman & Chief Executive Officer
Jean-Marc Duplaix Group Chief Financial Officer
Baudouin Prot Director
Jean-François Edmond Robert Palus Director & Group Managing Director
Yseulys Costes Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
KERING24.00%72 453
INDITEX - INDUSTRIA DE DISEÑO TEXTIL25.28%96 146
FAST RETAILING CO LTD16.95%59 161
ROSS STORES20.10%36 715
HENNES & MAURITZ31.34%26 145
ZALANDO85.56%11 807