Overview
- Net sales reached €2.299 billion as adjusted net profit rose 3.9% to €247 million, with adjusted EBITDA up 8.6% and a 19.4% margin; reported net income increased to €275 million due to the absence of prior IPO-related charges.
- Puig attributed the slower adjusted profit expansion to foreign-exchange effects in financial results plus lower earnings from associated companies.
- The company said it registered broad regional growth, with fragrances remaining the core business and a recovery in makeup during the second quarter.
- Puig created a new deputy CEO role and appointed long-time executive José Manuel Albesa to the position.
- Shares fell about 7% on September 10 following the results release, with analysts pointing to softer margins in fragrances and fashion linked to the timing of launches.