The Strong Performance Was Boosted by Higher Sales Growth and Operating Leverage
Spanish beauty and fashion company Puig has reported a net profit surge of 14.1 percent in 2024, totaling 531 million euros. The successful outcome was encouraged by an expanding sales growth and operating leverage.
Overall, Puig’s adjusted net profit grew by 15.5 percent up to 551 million euros.
Detailed reports paint a picture of the full-year sales for the company, reaching a sum of 4.79 billion euros. This substantial gain represents an increase of 11.3 percent in predetermined terms and 10.9 percent on an organic level. Also, there was a boost generated by an accelerated growth during the fourth quarter, compared with the preceding nine months of 2024.
Marc Puig, the chairman and CEO of Puig, following the market closure on Thursday, stated, “Our rigor and discipline enabled us to further improve our profitability, even while offsetting extraordinary one-off costs such as the IPO award given to all Puig employees to recognize their significant contributions over the years”. He added, “By reducing our net debt and strengthening our financial position, we are well-positioned for future growth.”
In 2024, net debt saw a reduction by 442 million euros, descending to 1.07 billion euros.
Home to prominent brands like Rabanne, Carolina Herrera, Charlotte Tilbury, and Byredo, Puig reported an expansion of its global value market share in selective fragrances, which grew to 11.5 percent in 2024.
Puig now has three of its items listed in the top-10 fragrance brand rankings globally. Notably, in 2024, Carolina Herrera’s Good Girl ascended to become the leading women’s fragrance line worldwide.