Puig – a global premium beauty player with a curated portfolio of beauty and fashion brands – closed 2023 with record net revenues of 4,304 million euros, an increase of 19% on 2022 (also +19% comparable perimeter and with constant exchange rates), with double-digit growth across all segments and geographies. Due to the company’s beauty market-beating growth in the last three years, the company has achieved its objective of doubling 2020 net revenues one year ahead of schedule and nearly tripled them two years ahead of schedule.
The company reached an EBITDA of 849 million euros, a 33% increase on 2022, representing an EBITDA margin of 20%. Net profit rose to 465 million euros, up 16% compared to the previous year.
Puig achieved these record results due to above-market growth across all segments and geographies and despite a challenging economic environment marked by geopolitical tensions and rising interest rates.
The company continued to gain market share, reaching 11% in the selective distribution fragrance business worldwide, marking a key milestone in its history.
These results are significantly ahead of the company’s plan, established in 2021, to reach 3,000 million euros in revenues in 2023.