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Interparfums — Earnings Release 2017
Apr 28, 2017
1445_10-q_2017-04-28_6dd04f7f-bcb5-436d-9776-4d216f6aa2ca.pdf
Earnings Release
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2017 first quarter Strong growth in sales: +34%
Paris, April 28, 2017
Consolidated first-quarter sales reached €112.4m, up 34.3% at current exchange rates and 32.7% at constant exchange rates from the same period in 2016. This particularly strong increase was driven by organic growth from the established lines as well as several launches in the last six months, notably Coach, Mademoiselle Rochas, Jimmy Choo L'Eau, Jimmy Choo Man Ice and Lanvin Modern Princess.
| (€m) | Q1 2016 | Q1 2017 | 17/16 |
|---|---|---|---|
| Jimmy Choo | 19.5 | 31.6 | +62% |
| Montblanc | 31.8 | 29.7 | -7% |
| Lanvin | 11.1 | 16.7 | +51% |
| Rochas | 5.8 | 8.6 | +48% |
| Coach | - | 7.6 | na |
| Boucheron | 4.0 | 4.8 | +19% |
| Van Cleef & Arpels | 3.8 | 4.2 | +9% |
| Balmain | 1.0 | 2.2 | (*) |
| Other brands | 6.2 | 6.4 | +3% |
| Fragrance sales | 83.2 | 111.8 | +34% |
| Rochas fashion royalties | 0.5 | 0.6 | ns |
| Total net sales | 83.7 | 112.4 | +34% |
(*) Including the sale of inventories to Balmain - na :not applicable - ns : not significant
Highlights by brand
With nearly €32m in sales in just the first quarter, up 62% from last year's same period, Jimmy Choo fragrances were bolstered not only by solid growth from the first women's and men's lines but also by the launch of spin-off lines, Jimmy Choo L'Eau (€5m) and Jimmy Choo Man Ice (€4m);
After growing more than 30% in the 2016 first quarter, a period that included the launch of the Montblanc Legend Spirit line, Montblanc fragrances consolidated their positions in the 2017 first quarter even though the brand achieved further gains (+20%) by the iconic Montblanc Legend line;
Lanvin fragrances returned to growth with sales up more than 50%. This increase was driven by the continuing solid performance of the Eclat d'Arpège line and the Modern Princess line's international launch, after a difficult cycle in 2016 resulting from economic slowdowns in its two major markets, Russia and China;
Rochas fragrances had €8.6m in sales based on the strength of the brand's historic lines plus initial sales of Mademoiselle Rochas, the first initiative since the brand was acquired in 2015;
Coach fragrances had €7.6m in sales linked to the launch of the women's line Coach in the 2016 second half.
Highlights by region
Virtually all regions registered strong growth, particularly North America (+31%) and Asia (+37%). In Western Europe, gains were more moderate, reflecting the high comparison base from the Montblanc Legend Spirit line's launch in the 2016 first quarter.
Balmain license
In connection with the termination of the Balmain license agreement announced in early March, components and finished products inventory at March 31, 2017 amounting to €1.3m were sold to Balmain at its net carrying value.
Philippe Benacin, Chairman and CEO commented: «With the concentration of several major launches at the beginning of the year, first quarter growth was particularly robust. For that same reason, it is not possible to extrapolate from this initial performance the trend for subsequent quarters. In light of the relatively volatile global economic environment, we thus remain cautious while confirming our guidance for growth with a target for 2017 full-year revenue of €390m.»
Upcoming event
Publication of 2017 2nd quarter sales July 27, 2017 ( b e fo re t h e o p e n i n g of Euronext Paris)
Investor Relations and Analysts Contact
Philippe Santi Executive Vice President [email protected]
Press Contact
Cyril Levy-Pey Communication Director [email protected]
Shareholder information
+33 1 53 77 00 99
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