Puig reports revenue uptick of 7%

Puig closed the first nine months of the year with revenue of 3.596 billion euros, up 7% like-for-like (at constant scope and exchange rates, LFL) and 4.9% higher on a reported basis than in the same period a year earlier.

In the third quarter, sales were 1.297 billion euros, up 6.1% LFL and 3.2% on a reported basis, the company said in a statement filed on Thursday with Spain’s National Securities Market Commission (CNMV).

The company’s executive chairman, Marc Puig, said it was a solid quarter “supported by sustained growth across all business segments and by the strength” of the brands.

“We face the Christmas campaign with full confidence, thanks to our strong execution capabilities, disciplined management and notable launches such as ‘La Bomba’ by Carolina Herrera,” he added.

The premium beauty company noted that the results for the period show “consistent execution and strong resilience across all categories”, which have enabled it to offset the slowdown in the fragrance market and the impact of exchange rates.

Separately, Puig said it will hold its Capital Markets Day on 16 and 17 April 2026.

The company also stressed that the increased visibility after the “sell-in” of the Christmas campaign allows it to reaffirm its LFL sales growth outlook for this year in the range of 6% to 8%.

“The company expects growth to be around the middle of that range,” the firm added, reiterating expectations for expansion of the adjusted EBITDA margin, in line with the improvement recorded in 2024.

The company said this outlook reflects confidence in its execution capabilities and the strength of its brands, alongside a resilient performance across all its divisions.

By segment, fragrances and fashion generated sales of 2.617 billion euros, up 6.4% LFL and accounting for 73% of the total.

In the third quarter, it posted sales of 932 million euros, up 2.8%, “reflecting the expected moderation in global fragrance markets and the impact of exchange rates”.

Make-up closed the period with revenue of 569 million euros, up 8.3%, and in the third quarter posted sales of 230 million euros, up 18.8%, “driven by continued innovation, the sustained success of Charlotte Tilbury and the strong performance of the retail channel, as well as integration with Amazon in the United States”.

Lastly, skincare posted revenue of 410 million euros, up 9.2% through September, and 135 million euros in the third quarter, up 10.5%.

By region, EMEA represented 53% of Puig’s sales, with 1.898 billion euros, up 3.9% through September, and 699 million euros, up 4.2%, in the third quarter.

The Americas accounted for 37%, with 1,331 million euros (up 7.8%) through September, and 464 million euros (up 2.3%) in the third quarter.

Finally, Asia-Pacific “maintained its solid performance”, with sales of 368 million euros through September, up 23%, and 134 million euros in the third quarter, up 35.8%, with the company noting that it is the fastest-growing region.