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Interparfums — Earnings Release 2012
Apr 27, 2012
1445_iss_2012-04-27_1b8d4dae-3888-480c-9ba8-36d1f0fe5176.pdf
Earnings Release
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Strong growth in 2012 1st quarter Sales: €111m (+25%)
Interparfums had another quarter of strong growth for the first three months of 2012 with consolidated sales of €110.8 million like-for-like, up 24.6% at current exchange rates and 22% at constant exchange rates from the same period in 2011.
This performance reflects strong momentum by the portfolio's main brands that included very high and stronger-than- expected demand for Jimmy Choo and Montblanc fragrances.
| € millions |
Q1 2011 | Q1 2012 2012/2011 | |
|---|---|---|---|
| Burberry | 48.7 | 54.3 | +12% |
| Lanvin | 14.0 | 15.7 | +12% |
| Jimmy Choo |
7.0 | 11.8 | +68% |
| Montblanc | 6.2 | 11.0 | +77% |
| Van Cleef & Arpels |
5.2 | 5.2 | - |
| Boucheron | - | 4.2 | n a |
| S.T. Dupont |
3.2 | 3.6 | +12% |
| Paul Smith |
3.6 | 2.8 | -22% |
| Nine West |
- | 1.7 | n a |
| Nickel | 0.6 | 0.6 | - |
| Other | 0.4 | - | n s |
| Total | 88.9 | 110.8 | +25% |
ns: not significant; na: not applicable.
Highlights by brand
n Burberry fragrances registered further growth (+12%) from strong gains by the brand's well-established lines and the rollout of the new Burberry Body line, launched at the end of 2011, although impacted by lower sales from the Burberry Sport line in the period;
n Lanvin fragrances once again achieved double-digit growth with sales of more than €15 million, from continuing gains by the Éclat d'Arpège line and steady performances by the Jeanne Lanvin and Marry Me! lines;
n The forward momentum that began in 2011 with the Jimmy Choo Eau de Parfum continued in 2012 with the Eau de Toilette. As a result, Jimmy Choo fragrances registered particularly robust expansion (+68%) with sales of nearly €12 million for the quarter;
n Montblanc fragrances also delivered high growth (+77%), with sales of €11 million from the continuing success of the Montblanc Legend line launched last year;
n In a year without major launches, Van Cleef & Arpels fragrances showed resilience with sales of €5 million, steady in relation to the 2011 first-quarter;
n The gradual repositioning of Boucheron fragrances in points of sale and a first initiative with the Jaipur line generated more than €4 million in revenue for the quarter.
Highlights by region
n In an active market, sales in North America rose sharply (+68%) in response to commercial efforts by the US subsidiary, Interparfums Luxury Brands (that since January 1, 2012 has also been distributing Nine West fragrances on behalf of Interparfums Inc.);
n Continuing gains were also achieved in Asia and France (up 22% and 15% respectively);
n Western Europe (20% of total revenue) is holding its ground in a difficult economic environment;
n A significant rise in volume sales for all brands combined with a favorable comparison base has set the stage for a return to high-growth in the Middle East (+35%).
Burberry license agreement
Discussions are being actively pursued with Burberry on the creation of an operating structure for the fragrance and beauty business.
EURONEXT
Paris, April 27, 2012
| Upcoming events | Publication of 2012 2nd quarter sales July 24, 2012 (before the opening of the NYSE-Euronext Paris stock exchange) |
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|---|---|---|---|
| Shareholder information Tel.: +33 1 53 77 00 99 |
Interparfums Investor Relations and Analysts Contact Philippe Santi at +33 (0)1 53 77 00 00 [email protected] |
Media contact - Watchowah Consulting Cyril Levy-Pey at +33 (0)6 08 46 41 41 [email protected] |
ITP LISTED NYSE |
www.interparfums.fr Codes: Reuters IPAR.PA, Bloomberg ITP, ISIN FR0004024222-ITP Indices: CAC Mid & Small