Interparfums — Earnings Release 2016

Oct 25, 2016

interparfums

2016 third-quarter sales: +11.5% 2016 annual guidance raised

Paris, October 25, 2016

With strong momentum from top-selling Montblanc and Jimmy Choo lines, Maison Rochas' successful integration and a better-than-expected start for the women's line, Coach, consolidated sales for the 2016 third quarter exceeded expectations. Sales for the quarter on that basis reached €110.6 million, up 11.5% at current exchange rates and 13.7% at constant exchange rates in relation to the 2015 third quarter.

Consolidated sales for the first nine months of 2016 rose accordingly to €273 million, up 10.8% at current exchange rates and 11.8% at constant exchange rates vear-on-vear.

€m	Q3		9 months		Change
	2015	2016	2015	2016	16/15
Montblanc	26.7	29.4	68.7	84.5	$+23%$
Jimmy Choo	30.3	24.5	63.5	63.4
Lanvin	18.8	19.0	47.2	41.1	$-13%$
Rochas (4 months in 2015)	2.8	6.3	4.3	20.0	ns
Van Cleef & Arpels	3.3	4.9	12.4	14.3	$+15%$
Coach (3 months in 2016)		12.4		12.4	na
Boucheron	3.9	4.0	13.5	12.2	$-9%$
Paul Smith	5.0	4.0	8.5	7.8	$-8%$
Other brands	8.1	5.7	27.6	15.7	$-43%$
Total fragrance sales	98.9	110.2	245.7	271.4	$+10.4%$
Rochas fashion royalties	0.3	0.4	0.6	1.5	ns
Total sales	99.2	110.6	246.3	272.9	$+10.8%$

ns: not significant; na: not applicable

Nine-month highlights by brand

$\blacksquare$ With sales of $€84.5$ million, up nearly 23%, Montblanc fragrances showed continuing gains, driven by the Legend line, launched in 2011 and the Legend Spirit line, launched in 2016;

Despite high comparison base from the Illicit line launch in the 2015 third quarter, Jimmy Choo fragrances were bolstered by steady sales from the main lines, Jimmy Choo, Jimmy Choo Man and Jimmy Choo Illicit;

Lanvin fragrances rebounded slightly in the 2016 third quarter, boosted by the launch of the Modern Princess line, primarily in France. Sales reached €41 million for the first nine months;

■ Rochas fragrances had €20 million in sales in the period, confirming its solid position in Spain and France, with strong demand for the Eau de Rochas and Rochas Man lines;

Van Cleef & Arpels fragrances benefited from continuing gains from the Collection Extraordinaire line, up more than 90% for the first nine months;

The women's line, Coach, rolled out in July 2016, and largely exceeded targets with initial sales, mainly in the United States, of more than €12 million.

Nine-month highlights by region

North America registered further gains (+28%), driven by the Montblanc Legend and Montblanc Legend Spirit lines, and the very promising launch of the women's line, Coach;

France (+17%) and Western Europe (+12%) profited from the successful integration of Rochas fragrances and steady gains by Montblanc fragrances;

With good performances in South Korea in particular, sales in Asia were up nearly 14%;

Sales in the Middle East remained stable, reflecting in particular Van Cleef & Arpels fragrances' good third quarter performance.

Outlook

Based on solid third quarter performances by the main brands and better-than-expected results from the Coach line launch, the company has raised its guidance for annual sales, now expected to reach €350 million for the 2016 full year.

Upcoming events

Publication of 2017 targets November 8, 2016 (before the opening of Euronext Paris)

Actionaria trade show, Paris November 18 & 19, 2016

Investor Relations and Analysts Contact

Philippe Santi Executive Vice President psanti@interparfums.fr

Press Contact

Cyril Levy-Pey Communication Director clevypey@interparfums.fr

Shareholder information

+33 1 53 77 00 99

Visit us on interparfums.fr

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