PARIS — Puig’s net profit in 2024 rose 14.1 percent to 531 million euros, spurred by strong sales growth and operating leverage.
The group’s adjusted net profit grew 15.5 percent to 551 million euros.
As previously reported, the Spanish beauty and fashion company’s full-year sales were 4.79 billion euros, representing an 11.3 percent gain in reported terms and 10.9 percent on an organic basis. This was boosted by a further acceleration in the fourth quarter, versus the prior nine months of 2024.
“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,” said Marc Puig, chairman and chief executive officer of Puig, in a statement released after the market closed Thursday. “By reducing our net debt and strengthening our financial position, we are well-positioned for future growth.”
Good Girl from Carolina Herrera New York.
Courtesy of Puig
In the year, net debt was reduced by 442 million euros to 1.07 billion euros.
The owner of Rabanne, Carolina Herrera, Charlotte Tilbury and Byredo said its global value market share in selective fragrances grew to 11.5 percent in 2024.
Puig now commands three spots in the top-10 fragrance brand rankings globally, and in 2024, Carolina Herrera Good Girl became the number-one women’s fragrance line worldwide.
