Puig, the world’s leading beauty company, unveils remarkable annual results for 2023 despite the current challenges. With record sales and double-digit growth in all segments and regions, the company posted a solid performance, demonstrating its resilience in the face of global economic conditions.
Puig, a major global beauty player with a portfolio of high-end beauty and fashion brands, announced its annual results for 2023 on March 7.
The Spanish group closed the year with record sales of €4,304 million, up 19%. All market segments and regions posted double-digit growth, well ahead of the targets set in the strategic plan drawn up in 2021. This plan aimed to achieve sales of 3,000 million euros by 2023.
Puig demonstrated remarkable financial strength, with EBITDA of €849 million, up 33% on the previous year, representing an EBITDA margin of 20%.
In addition, net profit reached 465 million euros, recording an increase of 16% compared to 2022. Despite this exceptional performance, the company’s net tax debt stood at 1,196 million euros.
“We have achieved these solid results thanks to our strategy of building a portfolio of proprietary brands, focusing on prestige products and extending our leadership in niche fragrances and make-up,” said Marc Puig, Chairman and CEO of Puig.
Decisive fashion and cosmetics
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Featured photo : © Charlotte Tilbury Beauty
