2023-10-24 07:14:03
(Update: stock price)
PARIS (Agefi-Dow Jones)–Interparfums confirmed its turnover target for 2023 on Tuesday, after recording an increase in its turnover in the third quarter. The manufacturer of licensed perfumes, however, said it was cautious for the coming quarters.
After these announcements, Interparfums shares lost 2.5% to 45.60 euros, showing the biggest drop in the SBF 120 index.
“While growth has been very sustained since the end of 2021, we have noticed a slowdown in this strong dynamic since mid-summer, our distributors having now replenished their stocks with the improvement in supply flows” , which encourages the group to remain cautious “over the coming quarters”, indicated Philippe Benacin, CEO of Interparfums, quoted in a press release.
Interparfums has confirmed that it is targeting a turnover of around 800 million euros this year. The group did not comment on its expected operating margin last month of between 18% and 19%.
In the third quarter, the group’s turnover reached 214.6 million euros, compared to 195.3 million euros in the same period of 2022, an increase over one year of 10% at current currencies and 18% at constant currencies.
Over the first nine months of 2023, Interparfums’ turnover stood at 610.7 million euros, compared to 514 million euros a year earlier, representing an increase over one year of 19% at current currencies and 20% at constant currencies.
The group also indicated that it would present its outlook for 2024 on November 22.
-Alice Doré, Agefi-Dow Jones; +33(0)141274790; [email protected] ed: VLV
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October 24, 2023 03:13 ET (07:13 GMT)
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