Kering Reports Strong 2012 Financial Results

Kering, formerly known as PPR, announced robust financial results for the full year 2012 on Thursday, February 14, 2013. The company reported a 20.8% increase in revenue and a 19.3% rise in recurring operating income. Recurring net income attributable to the group increased by a significant 28.2%.

The strong performance was largely attributed to the exceptional results of all brands within Kering's Luxury division. Chairman and CEO François-Henri Pinault commented that the growth potential of the brands is driven by their inherent strength, product quality, and the rigorous development of their distribution channels. He noted that while this potential was demonstrated in the Luxury division, the group is striving to achieve similar dynamics in its Sport & Lifestyle division.

Pinault also emphasized the solid geographic balance of the Group's activities and the consistency of its strategy. He stated that further important steps were taken in 2012 to transform the company into a more international, dynamic, and profitable entity. The CEO expressed confidence that the strengthening of its assets and the determination of its teams will lead to continued improvements in operating and financial performance in 2013.

Kering, which manages a portfolio of luxury and sportswear brands, generated €9.7 billion in revenue in 2012 and employed over 33,000 people. The company made this announcement in conjunction with the release of its detailed 2012 financial report.