Puig Posts Strong Financial Results Driven by Robust Growth Across All Segments

Puig concluded the first nine months of the current fiscal year with robust financial results, reporting revenues of 3.596 billion euros. This represents a significant increase of 7% on a like-for-like (LFL) basis, factoring in constant scope and exchange rates, and a 4.9% rise on a reported basis compared to the same period in the previous year. The premium beauty company demonstrated consistent growth, with the third quarter alone contributing 1.297 billion euros in sales, reflecting a 6.1% LFL increase and a 3.2% reported uplift, as stated in its filing with Spain's National Securities Market Commission (CNMV) on Thursday.

Marc Puig, the company's executive chairman, characterized the third quarter as "solid," attributing its success to sustained growth across all business segments and the inherent strength of Puig's diverse brand portfolio. Looking ahead to the crucial Christmas campaign, Mr. Puig expressed full confidence, citing the company's robust execution capabilities, disciplined management practices, and the impact of notable product launches, such as Carolina Herrera's 'La Bomba'. These factors collectively underscore Puig's strong market position and strategic foresight.

The company highlighted that its performance throughout the period showcased "consistent execution and strong resilience across all categories." This strategic agility enabled Puig to effectively counterbalance the broader slowdown observed within the global fragrance market and mitigate the adverse effects of exchange rate fluctuations. The ability to maintain momentum amidst market challenges underscores the robustness of Puig's business model and brand appeal.

Puig has also provided an update on its future corporate calendar, announcing that its Capital Markets Day will take place on April 16 and 17, 2026. Furthermore, increased visibility following the "sell-in" phase of the Christmas campaign has allowed the company to reaffirm its full-year LFL sales growth outlook. Puig expects growth to be in the range of 6% to 8% for the year, anticipating performance around the middle of this projected range. The company also reiterated its expectations for an expansion of its adjusted EBITDA margin, aligning with the improvements recorded in 2024. This optimistic outlook is a testament to its confidence in execution capabilities, brand strength, and the resilient performance across all its divisions.

Delving into segment-specific performance, the Fragrances and Fashion division was a primary contributor, generating sales of 2.617 billion euros. This figure represents a 6.4% LFL increase and accounts for a significant 73% of Puig's total revenue. In the third quarter, this segment recorded sales of 932 million euros, a 2.8% increase, which the company noted reflected the anticipated moderation in global fragrance markets and the impact of exchange rates. The Make-up segment demonstrated robust growth, closing the period with revenues of 569 million euros, up 8.3%. Its third-quarter sales reached 230 million euros, an impressive 18.8% surge, primarily driven by continuous innovation, the sustained success of Charlotte Tilbury, strong retail channel performance, and successful integration with Amazon in the United States. Lastly, the Skincare division posted revenues of 410 million euros through September, marking a 9.2% increase, and registered 135 million euros in the third quarter, up 10.5%.

Geographically, EMEA (Europe, Middle East, and Africa) remained Puig's largest market, contributing 53% of total sales with 1.898 billion euros through September, a 3.9% increase. In the third quarter, EMEA sales reached 699 million euros, up 4.2%. The Americas accounted for 37% of sales, generating 1.331 billion euros, up 7.8% through September, and 464 million euros in the third quarter, up 2.3%. Asia-Pacific continued its "solid performance" and emerged as the fastest-growing region, with sales of 368 million euros through September, an impressive 23% increase, and 134 million euros in the third quarter, soaring by 35.8%.