- Strong net revenue growth of €4,790 million in 2024, up 10.9% like-for-like (LFL) and +11.3% reported, outperforming the premium beauty market.
- Global Value Market share in selective fragrances grew to 11.5%
- Puig now holds three spots in the top 10 fragrance brand rankings worldwide. And Carolina Herrera Good Girl became the #1 feminine fragrance line worldwide.
- Adjusted Net Profit growth of 15.5% to €551 million. Reported Net Profit grew 14.1% to €531 million despite extraordinary items including IPO-related costs.
- Adjusted EBITDA of €969 million, up 12.3% year-on-year. Adjusted EBITDA margin rose 20bps to 20.2%, slightly ahead of guidance even after increased investment in brands.
- Net Debt reduced by €442 million to €1,068 million, or 1.1x Net Debt/Adjusted EBITDA, reflecting strong financial discipline and continued focus on sustainable growth.
- Liabilities related to business combinations significantly reduced in 2024 from €2.4bn to c.€1.1bn. The outstanding liabilities are rescheduled to be paid over the next five years, gaining flexibility to finance future growth.
Marc Puig, Chairman and CEO of Puig, said: “2024 was a transformative year for Puig as we became a publicly listed company after 110 years as a family business. We have delivered on our IPO commitments with €4,790 million in net revenues, outpacing the premium beauty market and with strong profitability through continued premiumization. We were delighted to see Carolina Herrera’s Good Girl becoming the #1 women’s fragrance line worldwide, sitting alongside Le Male by Jean Paul Gaultier as #3 and One Million by Rabanne as #4 masculine fragrance lines worldwide.
Strategic partnerships, including the arrival of Dr. Barbara Sturm and the extension of the alliance with Charlotte Tilbury MBE, have strengthened our brand portfolio. 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. By reducing our net debt and strengthening our financial position, we are well-positioned for future growth.”
For more information download the press release and visit the Financial Information section.