Puig revenues rise as it maintains full-year outlook

Puig has reported a revenue increase to €2.299 billion (£2 billion) in the first half of 2025, up 7.6% on a like-for-like basis and 5.9% on a reported basis, while maintaining its full-year outlook.

As part of this, all business segments posted growth in the third quarter, driven by the strength of Puig’s brand portfolio despite a softer global fragrance market and ongoing foreign exchange headwinds.

Fragrance and Fashion revenue increased 2.8%, following a "very strong" comparison base in 2024.

Meanwhile, makeup surged 18.8%, driven by sustained innovation, the ongoing success of Charlotte Tilbury, and "robust" retail channel performance, including through Amazon in the US.

Skincare increased 10.5%, reflecting continued momentum from Charlotte Tilbury and Uriage.

Regional performance was led by APAC, up 35.8%, followed by EMEA with 4.2% growth - led by Derma and Charlotte Tilbury - and the Americas rising 2.3%.

Puig also reported an adjusted EBITDA of €445 million (£390 million), up 8.6% year-on-year, with the EBITDA margin improving by 0.5 percentage points to 19.4%.

Reported net profit soared 78.8% to €275 million (£241 million), benefiting from a favourable comparison against 2024.

Looking ahead, Puig reaffirmed its full-year outlook, citing continued brand momentum, innovation, and robust global demand as key growth drivers.

Chairman and CEO Mark Puig said: "Puig delivered another strong quarter, supported by continued growth across all business segments, and by the strength of our brands.

"We approach the holiday season with full confidence in achieving our full-year outlook, leveraging our strong execution capabilities, disciplined management, and exciting launches."

It comes after Puig appointed José Manuel Albesa as Deputy CEO in September.

The move reflected a promotion for Albesa, who first joined Puig in 1998 as General Manager of Prestige Brands and most recently served as President of Puig Beauty & Fashion for more than five years.