Kering Half-Year Report 2023

Group revenue amounted to €10.1 billion in the first half of 2023, an increase of 2% both as reported and on a comparable basis.

• In the second quarter of 2023, sales rose 2% as reported and 3% on a comparable basis.
• Revenue from the directly operated retail network, which includes e-commerce sites, grew 4% on a comparable basis in the second quarter, with good performances in AsiaPacific and Japan. Growth in Western Europe was solid, while sales fell in North America.

Against a background of ongoing investments in the Group’s Houses, recurring operating income amounted to €2.7 billion in the first half. Recurring operating margin was 27.0%.

Net income attributable to the Group was €1.8 billion in the first half of 2023.

Free cash flow from operations, excluding real-estate acquisition and disposal, remained high at €2.1 billion during the first half, up 4%.