Interparfums — Earnings Release 2018

Apr 26, 2018

2018 first quarter sales: €121.6m +8% at current exchange rates +16% at constant exchange rates

Paris, April 26, 2018

Interparfums got off to an excellent start in the 2018 first quarter with revenue of €121.6m, up 8.2%. In light of the strong appreciation in the Euro/US dollar exchange rate(1), at constant currency this growth is even more robust with revenue of €130.9m, up 16.5%.

This performance was largely driven by Coach fragrances' very strong momentum over the last eighteen months, which accelerated in the 2018 first quarter.

€m	Q1 17	Q1 18	18/17
Montblanc	29.7	34.2	+15%
Coach	7.6	22.4	+196%
Jimmy Choo	31.6	19.6	-38%
Lanvin	16.7	16.0	-4%
Rochas	8.6	8.5	-2%
Boucheron	4.8	5.4	+13%
Van Cleef & Arpels	4.2	4.6	+10%
Karl Lagerfeld	1.4	3.3	+143%
Other brands	7.2	7.1	ns
Fragrance sales	111.8	121.1	+8.3%
Rochas fashion royalties	0.6	0.5	ns
Total net sales	112.4	121.6	+8.2%

ns : not significant

Highlights by brand

Montblanc fragrances had sales of more than €34m, with continuing growth supported by the Montblanc Legend line's persistent strength and the rollout of the Montblanc Legend Night line launched in the 2017 second half;

With sales of more than €22m in three months, Coach fragrances have displayed remarkable growth, driven both by the continuing success of the men's line Coach launched at the end of 2017, and the launch of the women's line Coach Floral in the beginning of 2018; After growth of more than 60% in the 2017 first quarter fueled by the simultaneous launch of the Jimmy Choo L'Eau and Jimmy Choo Man Ice lines, Jimmy Choo fragrances sales reached €19.6m, in line with internal forecasts. The upcoming quarters will see the launches of the Jimmy Choo Man Blue and Jimmy Choo Fever lines, which we expect will allow the brand to meet its growth target for 2018;

Without a major launch in the period, Lanvin fragrances had sales of €16m, marginally down from last year;

Rochas fragrance sales remained steady as the launch of the Mademoiselle Rochas Eau de toilette builds on the success of the Eau de parfum introduced in early 2017;

Boucheron and Van Cleef & Arpels fragrances continue to benefit from the performances of their Haute Parfumerie fragrance collections;

Finally, Karl Lagerfeld fragrances' return to growth initiated in the 2017 second half with Les Parfums Matières collection's launch, remains on track.

Highlights by region

Quarterly revenue was bolstered by strong growth in the Asia-Pacific region (+17%) and, to a lesser degree, North America (+9%). The more limited gains in South America and Western Europe reflected launches of the Jimmy Choo L'Eau and Jimmy Choo Man Ice lines that were concentrated in the 2017 first quarter.

(1) 1.23 in Q1 2018 compared to 1.06 in Q1 2017

Upcoming events

2018 Annual general meeting April 27, 2018 (2:00 p.m.) (CET - Pavillon d'Armenonville - Paris)

Publication of 2018 first-half sales July 25, 2018 ( 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 psanti@interparfums.fr

Press contact

Cyril Levy-Pey Communication Director clevypey@interparfums.fr

Shareholder information

+33 1 53 77 00 99

Philippe Benacin, Chairman and CEO commented: "We have begun the year with a very good performance, with sales exceeding our expectations. Even so, in the absence of major launches in the upcoming quarters and based on a Euro/US dollar exchange rate less favorable than last year, we remain prudent, while confirming our growth prospects with annual sales guidance for 2018 of €430m."

Interparfums

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