Puig’s sales continue to rise in 2024. The perfume group managed to surpass the 10% barrier in the increase in its turnover and achieved a turnover of 3,428 million euros between January and September, 10.1% more than the 3,112 million from the same period of the previous year. The group achieves this increase driven by the EMEA and America regions and with the fragrance and skin care divisions also growing by double digits. Despite the good progress in the business figure, the listed company did not reveal its profit, margin or debt levels.
The company chaired by Marc Puig celebrated that the result is in line with the guidance in the medium term made public at the time of its IPO. “We see a clear acceleration in the third quarter compared to the first half of the year”said the leader in a conference with analysts.
The firm celebrated “double-digit growth in a complex environment for the sector.” Despite claiming not to notice it in his orders, Puig recalled that several companies in the sector spoke of a slowdown in sales in the United States. “We don’t know what we are going to happen at the electoral level or what the consequences will be,” Puig said.
The company highlighted that Sales in its fragrance division rose 10.9% to 2,533.8 million until Septembermakeup rose 1.4% to 535 million and skin care rose 22.9% to 381.5 million. By region, EMEA rose 12.7% to 1,829.6 million, the Americas expanded 9% to 1,290.7 million and Asia-Pacific grew 0.8% to 307.9 million. Inflation in Latin America, however, ate up 25 million of sales.
The organization was confident about the increase in annual turnover, with the last quarter being the most important for its year. “The retailers They are optimistic for Christmas in the fragrance sector […] “We have limited exposure to China,” were some of the clues the executive gave. After the Christmas campaign, he said, it will be time to give forecasts for fiscal year 2025.
Without disclosing the benefit
Contrary to what he did in the first semester, Puig chose this time not to reveal his profits or margins and just give an update on your sales. It was the first time that the Catalan perfumer presented quarterly results, so it was not known what the format was going to be.
It is worth remembering that the company was severely punished on the stock market after publishing a 27% drop in profit, to 154 million euros, due, in part, to expenses related to the IPO. Since then, the firm has lost 20% of its stock market value and closed the day on Tuesday at 19.46 euros per share compared to the 24.5 euros at which it debuted.
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