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Interparfums Earnings Release 2019
1445_iss_2019-09-05_392d4500-ceb5-4202-ba64-94ae18dab1df.pdf
Earnings Release
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2019 first-half results
Operating profit: +12%
Paris, September 5, 2019
| H1 2018 | H1 2019 | 19/18 |
|---|---|---|
| 218.7 | 238.4 | +9% |
| 139.1 63.6 % |
152.3 63.9 % |
+10% |
| 34.8 15.9 % |
39.0 16.4 % |
+12% |
| 25.2 11.5 % |
27.2 11.4 % |
+8% |
| 06/30/18 | 06/30/19 | 19/18 |
| 421.9 | 438.3 | +4% |
| 136.4 | 137.4 | +1% |
Income statement highlights
The company continued its strategy of investment in the 2019 first half with a marketing and advertising budget of more than €50 million, notably to support the launch of the Montblanc Explorer line. Tight controls over all expenses and a favorable euro/dollar exchange rate trend contributed to a 12% increase in operating profit and an operating margin of 16.4%.
Net income was up 8%, despite the marginal impact of foreign exchange hedges combined with lower returns from financial investments.
Balance sheet highlights
With growth in business automatically leading to increases in both inventory and accounts receivable, working capital needs temporarily rose in the 2019 first half.
Net cash at June 30, 2019 of €137 million was stable compared to one year earlier and unaffected by the €30 million dividend payment for fiscal 2018 in May 2019 and the repayment of the Rochas loan in the amount of €10 million.
Upcoming events
Investir Day Carrousel du Louvre October 3, 2019
Publication of 2019 third-quarter sales October 29, 2019 ( b e fo re t h e o p e n i n g of trading in Paris)
Publication of 2020 forecasts November 19, 2019 ( b e fo re t h e o p e n i n g of trading in 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
Philippe Benacin, Chairman and CEO commented: "In light of the level of sales in a number of countries, it is clear that the launch of the Montblanc Explorer line has been a success. And because this launch does not affect the performances of the historic Montblanc Legend line, it has given a new impetus to the brand which should exceed sales of €130 million for the full year."
Philippe Santi, Executive Vice President and CFO, added: "In accordance with our roadmap, we devoted significant resources to support the launch of the Montblanc Explorer line in early 2019. Despite this, a combination of normal cost controls and a favorable euro/dollar exchange rate trend allowed us to achieve a record operating margin of 16.4%."
Visit us on interparfums.fr
ISIN : FR0004024222-ITP Reuters : IPAR.PA Bloomberg : ITP Euronext Compartment A Eligible for Deferred Settlement Service (SRD) Eligible for PEA PME savings vehicles