Kering Revises Revenue Following the Sale of Kering Beauté to L'Oréal

Financial Reassessment Post-Sale

According to Kering's press release, the reclassification of Kering Beauté, resulting from the sale agreement with L'Oréal, will lead to a separate presentation of its contributions in the net result of discontinued operations within the consolidated financial statements. This reclassification will be carried out on December 31, 2025, in accordance with IFRS 5. Additionally, comparative periods will be adjusted to maintain consistency across financial years. Kering's financial indicators will now be presented excluding the results of Kering Beauté.

Adjusted Revenue and Operational Results

Kering's revenue and current operational results have been adjusted to exclude Kering Beauté. For the first half of 2025, the revenue was initially announced at 7,587 million euros, but has now been revised to 7,439 million euros, with Kering Beauté accounting for 148 million euros. Similarly, for the year 2024, the initially published revenue of 17,194 million euros has been revised to 16,874 million euros, deducting the 320 million euros from Kering Beauté. The adjustments for current operational results are similar, with a revision of 49 million euros for the first half of 2025 and 114 million euros for the full year of 2024.

Retrospective Quarterly Revenue Without Kering Beauté

The group also disclosed the restated quarterly revenues excluding Kering Beauté. For the third quarter of 2025, the published revenue was 3,415 million euros, corrected to 3,331 million euros after deducting the 84 million euros from Kering Beauté. The second and first quarters were also adjusted by 78 and 70 million euros, bringing the revenues to 3,626 million euros and 3,813 million euros, respectively. The like-for-like variations, adjusted for scope and constant exchange rates, have been revised to -6% for the third quarter, -16% for the second, and -15% for the first quarter.