Puig increases dividends by 16% on the eve of IPO

Puig accelerates before jumping onto the hardwood. The Spanish cosmetics giant, whose listing is imminent, ended fiscal year 2023 with increased sales volume and increased bottom line results, the company announced on Thursday. The results once again confirm the company's valuation, which is currently approaching 10 billion euros.

Specifically, the Catalan company It ended the year with revenues of €4,304 million, up 19% from 2022. Profits for its part amounted to 465 million euros, an increase of 16% over the company’s profits in the previous year. Total operating results (EBITDA) also increased significantly, by up to 33%, or up to 849 million euros.

By sector, the company's sales in cosmetics increased by 31% compared to the previous year, reaching 431 million euros. However, it is still this division that contributes the least turnover to the group's total turnover. Fragrances and fashion still represent the bulk of the company's businesswith sales reaching 3,115 million euros, an increase of 17% compared to 2022. Make-up, for its part, means sales of 773 million euros for Puig, an increase of 23%.

Puig stayed strong with Rabanne, whose sales exceeded 1,000 million euros for the first time

The Catalan giant indicated a good development for all its brands, although it highlighted the good performance of Rabanne, whose sales exceeded one billion euros for the first time, and has consolidated itself as the flagship company of the group. However, the brand that achieved the greatest growth during this period was Jean Paul Gaultier.

Currently, Puig's portfolio includes the brands Rabanne, Carolina Herrera, Charlotte Tilbury, Jean Paul Gaultier, Nina Ricci, Dries Van Noten, Byredo, Penhaligon's, L'Artisan Parfumeur, Uriage, Apivita, Dr.Barbara Sturm (recently acquired) , Kama Ayurveda. and Loto del Sur, as well as licenses for Christian Louboutin, Banderas, Adolfo Dominguez and others.

According to the markets, The company has managed to grow in all the regions in which it operates. “We have strengthened our position in our key regions while continuing to invest in markets that have significant growth potential for our brands,” celebrated Mar Puig, CEO of the company.

Fragrances and fashion still represent the bulk of the company's business, with sales of €3,115 million.

especially, Sales in Europe, Africa and the Middle East reached €2,322 million, an increase of 18% compared to 2022.. The company highlighted the positive development of this market “despite global turmoil, geopolitical tensions and inflation.” For its part, sales from the American continent rose by another 18%, reaching 1,543 million euros.

Just The United States is a key country for the group and represents the largest market in terms of the company's sales volume.. The company recently opened offices in New York, in the Rockefeller Building, and has highlighted the growth of brands like Charlotte Tilbury.

Although it remains lagging in its main markets, Bouygues has particularly accelerated in Asia over the past year, with sales increasing by 26%, to €439 million. The company has highlighted China's development and points out that Asia already accounts for 10% of global sales volume.

Puig, controlled by the founding family, took its first steps in 1914. In recent years, it has grown through acquisitions and is now preparing to go public, which will happen in the first half of this year. Puig sells its products in more than 150 countries and has its own offices in 32 countries.