Kering soars on the stock market after the 2021 accounts. Less than an hour after the closing of the lists, the shares gain more than 6% of their value, rising to 671,8 euros, going against the market trend.
Kering's 2021 accounts
The French luxury giant – which owns, among others, the Gucci, Bottega Veneta and Yves Saint Laurent brands – closed 2021 with revenues of 17,6 billion euros, up 35% compared to 2020 and 13% compared to 2019, the pre-pandemic period.
In strong growth also in net income, which reached 3,17 billion euros, up 37% compared to 2019. Recurring operating income surged 60% compared to 2020, to reach a new record of 5,017 billion. The recurring operating margin, at 28,4%, recovers a high level.
Kering points out the contribution arrived from the retail channel, which during the year recorded an increase of 40% on 2020 and 18% on 2019. In particular, online sales grew by 55%, reaching 15% of retail network revenues.
The main brands
To tow the whole group contribute Gucci results, a brand that alone generates more than half of the group's turnover. Last year, the Italian brand recorded revenues of 9,73 billion (+31% on 2020 and beyond the levels of 2019), while in the fourth quarter alone, turnover recorded an increase of 32% on 2020 and 18% on 2019 after a third quarter below expectations.
The results were also positive Yves Saint Laurent and Bottega Veneta which generated revenues of 2,52 billion (+46%) and 1,5 billion (+25%) respectively.
The managing director, Francois-Henri Pinault, said he was confident that the group will continue to grow in 2022 and beyond. By virtue of the excellent results achieved and the positive estimates for the current year, the group could also consider important acquisitions to increase its portfolio.
Kering's board has proposed a dividend of 12 euros per share, up 50%.
