(AOF) – Interparfums (-0.47% to 42.15 euros) declines in Paris after the publication of its 2024 turnover which disappointed investors. This increased by 10.3% to 880.5 million euros, while the markets expected revenues of 889 million euros. As expected, it is well within the range estimated by the group last November: between 880 and 890 million euros. In France, income shows the strongest growth (28%). The turnover is the highest in North America: 332.2 million euros (+3%).
“This performance reflects continued strong demand for the flagship brands in the portfolio and an extremely positive first year for Lacoste perfumes,” explains the perfume distributor on the increase in its annual turnover.
Indeed, Lacoste perfumes have a turnover of nearly 80 million euros for the year 2024, much higher than expectations at the start of the year, and are achieving “a very promising first year of operation”.
In addition, after growth of 16% in 2023, Jimmy Choo perfumes recorded a further increase in their sales in 2024, of almost 7%, and continued their development thanks to the successful launch of the I Want Choo Le Parfum line in particular, started last June.
Philippe Benacin, Chairman and CEO, declared: “We once again achieved great performances on our main brands in 2024. If the geopolitical and economic context continues to limit the visibility, quality and creativity of our 2025 launch plan , based on important lines on the brands Jimmy Choo, Montblanc, Coach and Lacoste, without forgetting Rochas, allows us to envisage a new year of growth in sales and results.”
2024 operating margin expected at 20%
-In addition, Philippe Santi, Deputy Managing Director, added: “Practicing reasonable invoicing price increases at the start of 2022 and 2023 allowed us to preserve our gross margin levels in an inflationary context. Limiting them at the start of the year 2024 also allowed us to maintain the growth in volumes last year In the recurring context of continuous control of all expenses, particularly marketing and advertising, the operating margin for the year. 2024 could reach 20%.”
The group previously targeted an operating margin of more than 19%.
According to Invest Securities, “this operating margin of 20% would be higher than market expectations: 19.1%. Ebit should therefore stand at 176 million euros against a consensus of 170 million euros.
In terms of prospects, Interparfums has not categorically confirmed its turnover objective for the year 2025, in parallel with its annual publication.
On November 13, the perfume manufacturer announced that it was counting on “solid growth” of its activity for the year 2025 with an increasing turnover which should be between 910 and 930 million euros.