Interparfums Shows Sustained Growth in 2023

Interparfums published financial results affirming sustained growth for the year 2023. The company recorded a 13% increase in net sales, standing at 798.5 million euros. The gross margin also saw a growth of 11%, reaching 525 million euros. Despite a slight percentage drop in sales, from 66.8% to 65.8%, the company limited the effect of increased raw material and packaging costs through sales price increases at the start of the year. .

On the operational front, current operating profit increased by 16% with an amount exceeding 160 million euros, leading the current operating margin to 20%. Net profit increased by 19% compared to 2022, to reach nearly 119 million euros, with a net margin close to 15%. Interparfums also announces a 20% increase in its dividend per share.

Regarding the balance sheet, the company shows a notable increase of 32% in inventories, reflecting the supply difficulties of the year, although signs of easing of the supply chain are observed. On the other hand, net liquidity of borrowings and financial liabilities stands at almost 55 million euros, with equity at 644 million euros, representing 66% of total assets.

In view of upcoming events, Interparfums is preparing for its Annual General Meeting on April 16, 2024 and plans to publish sales for the first quarter of 2024 on April 25. Management remains confident in achieving its sales objectives for 2024, in particular thanks to the continued appeal of its fragrances, particularly those of Lacoste.