Puig has published its sales of the fourth quarter of last year and the entire Global of 2024. It has generated a record figure of Net sales of 4,790 million euros in 2024.
This represented A solid growth of +11.3% in reported terms and +10.9% LFL (to constant perimeter and exchange rate) compared to 2023, far ahead of the premium beauty market. Exchange rates had a negative impact of (0.8)% throughout the year.
Its LFL growth benefited from a positive impact of +1.1% Due to the hyperinflation adjustment of the Argentine peso That, as anticipated, offers a favorable comparison against 2023, where the impact was negative.
Puig’s results In the fourth quarter of the year they accelerated with respect to the previous three quarterswith a strong growth of +14.1% LFL and reached 1,362 million euros of sales.
The perimeter change contributed an additional increase of +1.0%, partially compensated by a negative impact of the exchange rate of (0.9)%, which resulted in a reported growth of +14.3%. The hyperinflation adjustment in Argentina gave rise to a +4.0% increase in LFL growth.
In the whole of the year, The main fragrance and fashion segment registered a +13.6% growth, which represents 73% of the total incomeS, and a positive growth of skin care, slightly compensated by the makeup segment.
In 2024, EMEA (Europe, Middle East and Africa) reached net sales of 2,620 million, 55% of Puig’s net sales, with an increase of +12.8% in reported terms and +11.6% to constant perimeter compared to 2023, thanks to the good results recorded in all business segments. EMEA remained the most important region of Puig in Q4, with an increase of +13.1% in reported terms and from +12.4% to a constant perimeter.
Américas obtained net sales of 1,715 million in 2024, which represents an increase of +11.1% in reported terms and +9.5% to constant perimeter compared to the same period of 2023. The region represented 36% of Puig’s net sales in the period. Américas also obtained outstanding results in Q4, +18.1% according to reported data and +16.1% to constant perimeter, driven by the strong and continuous dynamism of fragrances in North America.
As expected, in this period there were two impacts with opposite effects. The growth reported in Q4 2024 faced a more difficult comparison due to the entry of Charlotte Tilbury in Uult in Q4 2023. However, the growth in Q4 2024 also benefited from a positive impact of +13.3% Due to the hyperinflation adjustment of the Argentine peso That, as expected, provided a favorable comparison against 2023, where this impact was negative.
In Asia-Pacific (The smallest region of Puig in terms of contribution to income, which represented 10% of net sales in 2024) Sales increased +3.7% in 2024, in a difficult market environment. Asia-Pacific registered a good performance in Q4 2024, with a +10.2% growth reported and constant perimeter compared to 2023. Although China still has discreet behavior, the region has benefited from the development of new subsidiaries in Korea, Japan and India.