Perfume manufacturer and distributor Interparfums confirmed on Friday its financial targets for 2022, thanks to very good first half results.
Between January and June 2022, Interparfums’ revenues totaled 317.8 million euros, up 20% compared to the first half of 2021. 71.8 million in the first half of 2022, up 9% year-on-year. The operating margin was 22.5% of revenues, down 2.1% year-on-year, due to higher marketing and advertising costs.
While the payment of the 2021 dividend in May 2022, amounting to 54 million euros, and the acquisition of additional office space had a one-off impact on cash flow, the longer lead times for the supply of certain raw materials led to a significant increase in inventories and weighed on the group’s liquidity.
“While the current geopolitical and health context obviously prompts us to be cautious, the quality of our brands, the coherence of our fragrance lines and the competence of our teams remain powerful growth drivers and allow us to confirm our sales target of €630 to €640 million for the full year 2022,” said Philippe Benacin, the group’s Chairman and Chief Executive Officer, in a press release.
In 2021, revenues stood at €560 million and the operating margin at 17.6%. Analysts surveyed by FactSet are forecasting revenues of €641 million and an operating margin of 16.7% for the group in 2022.
Among its objectives, Interparfums intends to pursue its strategy of controlled growth, based on investments in marketing and advertising, targeted by fragrance line and by country, supported by a portfolio of brands with significant development potential.
Read also > Interparfums continued to perform well in the first quarter of 2022
Featured photo : © Interparfums
