Interparfums — Earnings Release 2017

Oct 25, 2017

2017 nine-month sales €324m (+19%)

Paris, October 25, 2017

With continuing positive trends for the portfolio's main brands, consolidated revenue reached nearly €115m in the 2017 third quarter, up 4% at current exchange rates and 5% at constant exchange rates from the same quarter in 2016, despite a difficult comparison with last year's launch of the women's line, Coach.

For the first nine months of 2017 consolidated sales consequently rose to €324m or 18.7% at current exchange rates and 18.8% at constant exchange rates year-on-year.

	Q3		9 months		Change
€m	2016	2017	2016	2017	17/16
Montblanc	29.4	31.7	84.5	88.8	+5%
Jimmy Choo	24.5	24.0	63.4	78.6	+24%
Lanvin	19.0	16.5	41.1	47.0	+14%
Coach (3 months in 2016)	12.4	15.8	12.4	31.5	ns
Rochas	6.3	7.9	20.0	26.5	+32%
Boucheron	4.0	5.2	12.2	14.1	+15%
Van Cleef & Arpels	4.9	4.1	14.3	13.6	-5%
Other brands	9.7	8.8	23.5	21.9	ns
Total fragrance sales	110.2	114.0	271.4	322.0	+19%
Rochas fashion royalties	0.4	0.6	1.5	2.0	+31%
Total sales	110.6	114.6	272.9	324.0	+19%

ns : not significant

Nine-month highlights by brand

After growing more than 20% in 2016, a year that included the launch of the Montblanc Legend Spirit line, Montblanc fragrances consolidated their positions, in line with expectations at the start of the year;

With sales of nearly €79m, up 24% from last year's same period, Jimmy Choo fragrances maintained forward momentum with gains by the Jimmy Choo L'Eau and Jimmy Choo Man Ice lines and good performances by the established women's and men's lines;

After experiencing difficult market conditions in selected markets in 2016, Lanvin fragrances have returned to growth, driven by the international launch of the Modern Princess line and the historical strength of the Eclat d'Arpège line;

Coach fragrance had €31.5m in sales on continuing growth by the women's line Coach rolled out in 2016 and bolstered by the launch of the men's version in fall 2017;

Finally, Rochas fragrances had €26.5m in sales reflecting the strength of the Eau de Rochas line and the Mademoiselle Rochas line's successful launch in around fifteen markets, the brand's first major initiative since acquired in 2015.

Nine-month highlights by region

Sales continued to grow in North America (+17%), driven by Jimmy Choo and Coach fragrances in particular, as the promising recent launch of the Coach men's line builds on the success of the women's line one year earlier;

South America (+40%), Eastern Europe (+32%) and the Middle East (+29%) have returned to high growth rates, following mixed performances in 2016;

In Western Europe, slower growth reflects the high comparison base from the Montblanc Legend Spirit line's launch in the 2016 first half;

Sales in France rose by 6% (excluding the sale of Balmain inventory), with the very successful launch of Mademoiselle Rochas, within a market for cosmetics and perfumes contracting more than 3%(1);

With good performances in South Korea and China in particular, sales in Asia were up nearly 20%.

Outlook

Based on the good level of business activity in the 2017 third quarter, consolidated revenue is expected to reach €400-€405m for the full year.

(1) Source : NPD France end of September 2017

Upcoming events

Publication of 2018 targets November 14, 2017 ( b e fo re t h e o p e n i n g of Euronext Paris)

Actionaria trade show, Paris November 23 & 24, 2017

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

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