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Kering
Earnings Release • Dec 11, 2025
1459_iss_2025-12-11_dfb52f6a-d4fd-4e87-a491-1c01fac9d14c.pdf
Earnings Release
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PRESS RELEASE
December 11, 2025
FINANCIAL INFORMATION REGARDING THE RECLASSIFICATION OF KERING BEAUTÉ IN ACCORDANCE WITH IFRS 5
Following the agreement with L'Oréal for the sale of Kering Beauté, expected to close in the first half of 2026, Kering Beauté's activity (for which Kering has exercised its right to sell to L'Oréal) will be reclassified as discontinued operations in the consolidated financial statements as of December 31, 2025, under IFRS 5. Accordingly:
- Kering Beauté's contributions will be isolated and presented separately within net income from discontinued operations
- comparative periods will be restated to ensure consistency across reporting periods
- the Group's financial indicators will be presented excluding Kering Beauté, under continuing operations
Group financial indicators, restated for Kering Beauté
| (in € millions) | H1 2025 reported | H1 2025 restated | Kering Beauté | 2024 reported | 2024 restated | Kering Beauté |
|---|---|---|---|---|---|---|
| Revenue | 7,587 | 7,439 | 148 | 17,194 | 16,874 | 320 |
| Recurring operating income |
969 | 920 | 49 | 2,554 | 2,440 | 114 |
Group quarterly revenue, restated for Kering Beauté
| (in € millions) | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|
| Revenue reported | 3,415 | 3,704 | 3,883 |
| Comparable change reported (1) | -5% | -15% | -14% |
| Kering Beauté restatement | (84) | (78) | (70) |
| Revenue restated for Kering Beauté | 3,331 | 3,626 | 3,813 |
| Comparable change restated (1) | -6% | -16% | -15% |
(1) Change on a comparable scope and exchange rate basis.
All related information will be detailed in the 2025 Financial Document to be published on February 10, 2026.
About Kering
Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across ready-to-wear and couture, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering's Houses design and craft exceptional products and experiences that reflect the Group's commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion.
Contacts
Press
Emilie Gargatte +33 (0)1 45 64 61 20 [email protected] Caroline Bruel +33 (0)1 45 64 62 53 [email protected]
Analysts/investors
Philippine de Schonen +33 (0)6 13 45 68 39 [email protected] Aurélie Husson-Dumoutier +33 (0)1 45 64 60 45 [email protected]