Kering Half-Year Report 2022

Group revenue in the first half of 2022 grew 23% as reported and 16% on a comparable basis compared to the first six months of 2021. Group revenue also rose sharply compared to the first half of 2019, up 28% on a comparable basis.

• In the second quarter of 2022, sales rose by 20% as reported and 12% on a comparable basis, the difference being mainly due to currency effects.
• Sales from the directly operated retail network, including e-commerce, were up 12% year-onyear on a comparable basis in the second quarter and up 32% compared to the second quarter of 2019, driven by the success of Kering’s Houses with local customers and the resumption of tourism in Western Europe.

Recurring operating income grew 26% in the first half, with all Houses contributing to growth. Recurring operating margin was 28.4%, up 60 basis points compared to the first half of 2021.

Net income attributable to the Group hit a new record of €1,988 million, an increase of 34%.

The Group generated substantial Free cash flow from operations of more than €2 billion.