Puig Tops €5bn in Document 2025 Gross sales as Profitability Beats Steering

THE WHAT? Puig reported FY 2025 outcomes displaying file web income above €5 billion, sturdy like-for-like progress and improved profitability, persevering with to outperform the premium magnificence market.

THE DETAILS Puig delivered FY 2025 web income of €5,042 million, up +7.8% like-for-like (high finish of its 6–8% outlook vary) and +5.3% reported. Adjusted EBITDA rose +7.8% yr on yr to €1,045 million, with the adjusted EBITDA margin enhancing to twenty.7% (from 20.2% in FY 2024), forward of steering. Adjusted web revenue reached €587 million (11.6% margin), whereas reported web revenue was €594 million (11.8% margin). Free money movement from operations totalled €664 million, with web debt/adjusted EBITDA at 0.7x.

By phase, Perfume and Trend (72% of FY income) grew +6.4% like-for-like to €3,646 million, supported by Carolina Herrera, Jean Paul Gaultier and double-digit progress in its Area of interest portfolio led by Byredo. Make-up rose +13.7% like-for-like to €845 million, pushed by Charlotte Tilbury (together with distribution positive aspects through Amazon within the US and entry into Mexico), whereas Skincare grew +8.9% like-for-like to €551 million, led by Uriage and Charlotte Tilbury skincare. Puig additionally highlighted that Rabanne, Carolina Herrera and Jean Paul Gaultier maintain three spots within the international high 10 perfume model rankings.

Regionally, progress was broad-based: EMEA delivered +5.5% like-for-like progress to €2,752 million; the Americas grew +7.7% like-for-like to €1,760 million (with FX headwinds); and Asia-Pacific elevated +21.7% like-for-like to €531 million. Wanting forward, Puig up to date its steering framework, expects FY 2026 margins to stay steady amid a harder value setting, reiterated its leverage threshold (web debt/adjusted EBITDA to not exceed 2.0x), and stated it intends to pay a dividend of €237 million (round 40% payout of reported web revenue), topic to AGM approval. The corporate additionally introduced ahead its Capital Markets Day to April 14, 2026 in Madrid.

THE WHY? Puig’s outcomes present it may possibly maintain above-market progress whereas increasing margins, supported by sturdy perfume management and accelerating Make-up and Skincare efficiency, alongside disciplined money and stability sheet administration that preserves flexibility for reinvestment and selective M&A.

Supply: Puig