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Interparfums — Earnings Release 2010
Oct 26, 2010
1445_iss_2010-10-26_4223b4ef-351c-493a-bcbc-975febc51e99.pdf
Earnings Release
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2010 third-quarter sales: €84.8m Full-year outlook raised again
2010 third-quarter growth remained robust
Positive momentum since the beginning of the year continued in the third-quarter with record consolidated sales of nearly €85 million. Despite the high basis of comparison with the same period last year, sales were up 16.5% at current exchange rates and 16.6% at constant exchange rates driven by:
- n sustained organic growth by the main fragrance lines;
- n new fragrance line launches;
- n the launch of the Burberry Beauty make-up line;
- n the integration of the Montblanc fragrances;
- n resilient market conditions particularly in Europe and North America.
Consolidated sales for the first nine months of fiscal 2010 totalled €235.5 million, up 21.4% at current exchange rates and 22.4% at constant exchange rates year-on-year:
n Burberry fragrances (+18%) achieved further growth from continuing gains by the brand's well-established lines, increased orders from retailers for the more recent top-selling lines (Burberry Brit and Burberry The Beat) and the launch of the Burberry Sport line (nine-month sales of more than €30 million);
n Lanvin fragrances (+31%) had sustained growth buoyed by the performances of its two now solidly established lines (Eclat d'Arpège and Jeanne Lanvin) and the launch of the Marry Me ! line;
n Van Cleef & Arpels fragrances (+33%) strengthened positions with sales approaching €20 million for the period as it continues to renew its selection, adding a woman's fragrance line Oriens in the spring and a men's fragrance line Midnight in Paris in the fall.
Full-year sales outlook raised again
Efforts in the coming weeks will focus on:
n finalizing many initiatives in the pipeline for the beginning of 2011 notably under the Jimmy Choo and Montblanc brands;
n developing the working relationship between the US subsidiary Interparfums Luxury Brands and Clarins in the United States.
In light of recent commercial trends and the strength of the perfumes and cosmetics market, the Company again raises guidance for 2010 full year sales. Based on these latest developments, annual sales are now expected to range between €290 million and €295 million on growth of 12% to 14% over 2009.
Paris, October 26, 2010
| Upcoming events: | Publication of 2010 year-guidance and 2011 targets 17 November 2010 (before the opening of trading) |
Actionaria trade show, Paris November 19 & 20, 2010 |
|---|---|---|
| Shareholder information Tel.: +33 1 53 77 00 99 |
Investor relations - Interparfums SA Philippe Santi, tel.: +33 1 53 77 00 00 [email protected] |
Media relations - RLPV Conseil Cyril Levy-Pey, tel.: +33 6 08 46 41 41 [email protected] |
ITP NYSE EURONEXT LISTED
www.inter-parfums.fr Codes: Reuters IPAR.PA, Bloomberg ITP, ISIN FR0004024222-ITP Index: CAC Mid 100 and SBF 250