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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Kering    KER   FR0000121485

KERING

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Kering : Gucci owner Kering on track with global logistic hub in Italy

04/08/2021 | 08:51am EDT
The logo of Kering is seen during the company's 2015 annual results presentation in Paris

MILAN (Reuters) - Kering has completed the first phase of its new global logistics hub in North-West Italy, helping increase the French luxury group's storage and speed up global deliveries.

The group will keep some warehouses in Switzerland but has already relocated several teams to Italy, Kering Managing Director Jean-Francois Palus told reporters on Thursday.

Kering said in a statement that it plans to increase staff numbers at the site in the Piedmont town of Trecate, which is operated by XPO Logistics, from more than 250 now to 900 by the end of 2022.

The hub will also be the first industrial complex in Italy to produce more energy than it consumes thanks to one of Europe's largest rooftop solar systems, it added.

"The excess electricity will be fed into Italy's power distribution grid, for use at Kering stores and corporate offices in the country," the Gucci brand owner said.

Kering said the first part of the building has been operating since March 2020 and the second is scheduled to start by the end of the second quarter of this year.

(Reporting by Maria Pia Quaglia and Silvia Aloisi; Editing by Alexander Smith)


© Reuters 2021
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Financials
Sales 2021 15 466 M 18 412 M 18 412 M
Net income 2021 2 747 M 3 270 M 3 270 M
Net Debt 2021 5 444 M 6 480 M 6 480 M
P/E ratio 2021 27,8x
Yield 2021 1,64%
Capitalization 76 356 M 90 738 M 90 897 M
EV / Sales 2021 5,29x
EV / Sales 2022 4,75x
Nbr of Employees 38 553
Free-Float 58,5%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 632,10 €
Last Close Price 611,90 €
Spread / Highest target 18,5%
Spread / Average Target 3,30%
Spread / Lowest Target -30,1%
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Managers and Directors
NameTitle
François Jean Henri Pinault Chairman & Chief Executive Officer
Jean-Marc Duplaix Chief Financial Officer
Yseulys Costes Independent Director
Daniela Riccardi Independent Director
Sophie L'Hélias Lead Independent Director
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