Spain · Delayed Price · Currency is EUR Puig Brands Earnings Call Transcripts
Fiscal Year 2025
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Record FY2025 revenue exceeded €5B with strong growth across all segments and regions, robust margins, and improved cash flow. 2026 guidance anticipates stable margins, continued investment, and ongoing FX/tariff headwinds, with selective M&A and a 40% dividend payout policy.
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Net revenue for the first nine months reached EUR 3.6 billion, up 7% like-for-like, with all segments performing within or above guidance. Makeup growth was driven by Charlotte Tilbury and Amazon US, while APAC led regional growth. Guidance for 2025 is reaffirmed at mid-range.
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Delivered strong H1 2025 results with €2.3 billion in net revenues, 7.6% like-for-like growth, and improved margins. Fragrance and fashion led segment growth, while makeup and skincare showed solid gains. Outlook reaffirmed, with moderation expected in fragrance growth for H2.
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Record H1 2025 sales of EUR 2.3 billion (+7.6% like-for-like) were driven by strong growth in all regions and segments, despite FX headwinds. Guidance for 6%-8% like-for-like growth and margin improvement is maintained, with innovation and new launches supporting momentum.
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Record Q1 revenue growth of 7.5% was driven by strong fragrance and fashion performance, with double-digit gains in the Americas and robust APAC growth. Makeup declined but is expected to recover, while guidance for 6%-8% like-for-like growth is maintained despite market uncertainties.
Fiscal Year 2024
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Record 2024 results with €4.8B revenue (+11.3%), strong margin gains, and robust cash flow. Fragrance and fashion led growth, while makeup faced challenges. 2025 guidance targets 6%-8% revenue growth, with innovation and potential tariff risks ahead.
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Record FY2024 net revenue of €4.8B was driven by double-digit growth in fragrance and fashion, with strong EMEA and Americas performance and market share gains. Makeup was flat, skincare grew, and the Charlotte Tilbury spray issue was resolved.
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Record Q3 and nine-month sales growth driven by strong fragrance, makeup, and skincare performance, with robust momentum in EMEA and the Americas. Confident FY 2024 outlook, despite macro uncertainties and tougher Q4 comparisons in makeup.
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Net revenue grew 9.6% to EUR 2.2 billion in H1 2024, with record gross margin and strong adjusted EBITDA. Fragrance and skincare segments led growth, while makeup was impacted by APAC weakness and destocking. Confident in full-year guidance and strong H2 outlook.