Global beauty conglomerate Puig has announced robust interim results for fiscal year 2025, surpassing predictions with a stable surge in sales and a significant boost in profitability.
In the first half of the year, net revenue increased by 7.6% to reach €2.3 billion (~US$2.7 billion), primarily boosted by a weaker US dollar. The adjusted net profit climbed to €247 million (~US$289 million), while the reported net profit witnessed an impressive leap of almost 79% to €275 million (~US$322 million).
The group’s adjusted EBITDA also saw an increase of 8.6%, amassing €445 million (~US$521 million). The EBITDA margin improved to 19.4%, bolstered by revenue enhancement, cost management, and strategic promotional investments.
The company’s fragrance and fashion sectors led the growth, making up 73% of the total revenues. Exceptional performances were seen from niche brand Byredo and the prelaunch of Carolina Herrera’s new perfume, La Bomba.
After a period of stagnation, the makeup sector experienced a resurgence with a 2% like-for-like growth, driven by high demand for Charlotte Tilbury’s Super Nudes and Unreal collections. Skincare also experienced a substantial increase of 8.6%, propelled by Uriage’s sun care range and an expanded product line from Charlotte Tilbury.
Puig has experienced considerable growth across different regions. The Americas saw a 10.9% like-for-like increase, Asia-Pacific revenues grew by 16.5%, and EMEA witnessed a 3.6% rise.
The company also announced the appointment of Jose Manuel Albesa as the deputy CEO to supervise all divisions. Albesa, a veteran in the company since 1998, and instrumental in rebranding major labels, will directly report to Marc Puig, the chairman and CEO.
Puig anticipates maintaining its upward trajectory in the second half of the year, powered by the holiday season and the full launch of La Bomba. The firm aims for a 6-8% like-for-like revenue growth, alongside further expansion of adjusted EBITDA margin, with a keen focus on M&A strategies.
Marc Puig, Chairman and CEO, expressed that the second half is typically their most active period, with holiday demand and the full launch of Carolina Herrera’s new fragrance, La Bomba still in the pipeline. He added, “The appeal of our brands, combined with our ongoing cost discipline, enables us to invest in them to ensure sustainable long-term growth. This reaffirms our optimism for the year’s forecast.”
What led to Puig’s strong first-half performance in FY 2025?
A weaker US dollar, strategic marketing investments, and cost control strategies contributed to Puig’s impressive performance. Noteworthy performances from the fragrance and fashion sectors also played a key role.
What are the growth expectations for Puig in the second half of FY 2025?
Puig aims to continue its momentum by targeting a 6-8% like-for-like revenue growth. This will be largely driven by the holiday season and the full release of Carolina Herrera’s new fragrance, La Bomba.
Who has Puig appointed as the new Deputy CEO?
Puig has appointed Jose Manuel Albesa as the deputy CEO. Albesa has been with the company since 1998 and has played a crucial role in repositioning major brands.
