Beauty group Puig profit boosted by makeup, skincare demand

By Mireia Merino and Marta Serafinko

GDANSK, Feb 18 (Reuters) - Spanish beauty company Puig PUIGb.MC posted a 12% rise in full-year net profit on Wednesday to 594 million euros ($703 million), as strong demand in makeup and skincare helped offset negative currency effects and slower growth in fragrances.

Puig, known for its perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier, attributed the net profit increase partly to the absence of IPO-related costs booked in 2024, when net profit stood at 531 million euros. Currency movements had a negative impact of 2.6% last year.

Sales at constant currency rose 7.8% to 5.04 billion euros, as fragrance segment demand moderated, though the results remained within its annual guidance range, helped by makeup and skincare demand.

Fragrances and fashion, which account for about 73% of sales, rose 3.8%, while make-up grew 10.7% and skincare 7.3%.

The Barcelona- based firm plans to pay a dividend of 0.42 euros per share for 2025, maintaining its policy of paying out around 40% of reported net profit.

The company expects full-year margins to remain stable in 2026 despite rising costs, and said it is confident like-for-like revenue will continue to grow at a rate ahead of the broader premium beauty market.

($1 = 0.8445 euros)