Puig declares 551 million benefit in his first balance after the IPO

Puig He has closed 2024 with solid growth in its results, reaching net sales of 4,790 million, above the progress of the global premium beauty market and promoted the company to reach a market share of 11.5% in selective fragrances. In its first balance since May the FIRA based in Barcelona debuted in the stock market, Puig declares a tight benefit of 551 million, which represents a growth of 15.5%.

Marc PuigExecutive President of Puig, stressed that 2024 has been “a year of transformation” for the company, marked by its 110th anniversary as a family business and its extent. In his statements, Puig has stressed that the net income of 4,790 million euros exceeded the expectations of the premium beauty market, and that the firm impulse of its brands has resulted in a remarkable profitability. The president has celebrated the leadership of Good Girl of Carolina Herrera as the number one female fragrance in the world, and highlighted the position of Le Male de Jean Paul Gaultier and One Million of Rabanne among the main global male fragrances.

In addition, he has highlighted how strategic alliances, such as the incorporation of Dr. Barbara Sturm and the expansion with Charlotte Tilbury, “have reinforced the portfolio of brands.” Finally, Puig has emphasized the disciplined approach that has allowed improving profitability, despite the extraordinary costs derived from the exit to Bagand how the reduction of net debt has put Puig in a solid position to continue growing.

The fragrance and fashion segment, which represents most of Puig’s business, has generated net sales of 3,538 million euros in 2024, which is equivalent to 73% of the company’s total sales. Thanks to this strong performance, Puig has reached a fee of record market 11.5% worldwide, consolidating as leader in the sector. The company has managed to increase its share in all markets, except in Latin America, where it maintains a solid leadership position in a highly competitive environment.

The region EMEA (Europe, the Middle East and Africa) has been the most important in terms of net sales, with 2,620 million euros, representing 55% of Puig’s total sales. In AmericaPuig has reached an income of 1,715 million euros, which represents 36% of global sales. Finally Asia-Pacificthe region with the lowest weight in terms of income, has registered 455 million euros, representing 10% of the total, with a growth of 3.7% in a challenging market context.