Kering: 2021 Universal Registration Document

2021 Universal Registration Document

Annual financial report – Integrated report

UNIVERSAL REGISTRATION 2021

DOCUMENT

This document is an uncertified translation into English of the Universal Registration Document issued in French, drawn up in ESEF format (European Single Electronic Format) and filed on March 28, 2022 with the Financial Markets Authority(AMF), as the competent authority under Regulation (EU) 2017/1129, without prior authorization pursuant to Article 9 of said regulation.

The Universal Registration Document may be used for the purposes of an offer of securities to the public or the admission of securities to trading on a regulated market if it is supplemented by a securities note and, where applicable , a summary and any changes to the Universal Registration Document . The whole is approved by the AMF in accordance with Regulation (EU) 2017/1129.

TABLE OF CONTENTS

– 2

CHAPTER 1

Group presentation

and integrated report 5

1- Message from the Chairman and Chief Executive Officer 6

2- Profile of group 8

3- Our governance model 16

4- Our value creation model 24

5- Our strategy 28

6- Our markets 34

7- Our Houses 40

8- Our approach to sustainable development 57

9- Our approach to risk management 62

CHAPTER 2

Activity report 2021 63

1- Introduction – Impact of the COVID-19 pandemic on the Group’s business and its consolidated financial statements

as of December 31, 2021 64

2- Highlights of 2021 67

3- Activity report 2021 69

4- Operational performance 73

5- Balance sheet as of December 31, 2021 85

6- Comments on the change in net debt 87

7- Net income of the parent company 89

8- Transactions with related parties 89

9- Subsequent events 89

10 -Outlook 90

11 -Definitions of non-IFRS 91 financial indicators

12 – Investment policy 92

CHAPTER 3

Corporate Governance 95

1 – Kering’s governance 96

2 – Composition of the Board of Directors

and information on corporate officers 99

3 – Regulatory information on corporate officers 135

4 – Compensation of corporate officers 137

CHAPTER 4

Sustainability 163

1- Introduction: sustainable development at Kering 164

2- Ethics, the cornerstone of our profession 176

3- Responsible management of our operations 185 4- Building together ecologically and socially

responsible supply chains 225 5- Commitments to our customers,

our stakeholders and society as a whole 250

6- Cross-reference table 272 7- Report by one of the Statutory Auditors, appointed as an independent third party, on the audit of the consolidated financial statements

non-financial performance statement 275 8- Moderate assurance report from one of the

Statutory Auditors on selected information concerning the Environmental Result

Account (“EP&L”) 278

CHAPTER 5

Risk management and internal control 281

1 – Internal control and risk management

procedures put in place by the Company 282

2 – Presentation of risks 291

3 – Vigilance plan 2021 320

CHAPTER 6

Financial statements as of December 31, 2021 333

1- Consolidated accounts

as of December 31, 2021 334 2- Report of the Statutory Auditors on

Consolidated accounts 399

3- Annual financial statements of Kering SA 404 4- Report of the Statutory Auditors

on the financial statements 422 5- Special report of the Statutory Auditors

on regulated agreements 426

CHAPTER 7

Information for investors 429

1 – Share capital 430

2 – Shareholding 435

CHAPTER 8

Additional Information 441

1 – General information 442

2 – Responsible for the Universal

Reference document 444

3 – Statutory auditors 444

4 – Documents incorporated by reference 445

5 – Concordance tables 445

This is an excerpt from the original content. To continue reading it, go to the original document here.

About Ian Crawford

Check Also

Why EverQuote shares may remain weak

EverQuote (ALREADY) stocks are down nearly 40% since the start of 2022, pushing the 14-day …