The Catalan company continues unstoppable. Puig has published the results for the year 2024, in which it earned 531 million euros, 14.1% more than in 2023 after setting a sales record of 4.790 billion euros, 11.3% more than in 2023.
2024 was an important year for the Catalan company as it was the year it debuted on the stock market in May.
The numbers have improved beyond what analysts expected, as well as expenses, which have been reduced and finally reached a figure of 146 million euros. Puig has managed to focus on three fundamental pillars to achieve this: increasing sales of its star products, reducing debt to 1.068 billion, and consolidating the acquisitions that have driven its growth in recent years.
Marc Puig, president of the company, explained that: "we have fulfilled the commitments established at the IPO, with net revenues of 4.790 billion that exceed the results of the premium beauty market and achieving strong profitability thanks to the continuous elevation of our brands. By reducing our net debt and strengthening our financial position, we are well positioned for future growth."
By regions, Puig recorded sales of 2.620 billion in Europe, the Middle East, and Africa, 12.8% more compared to the previous year. America accounted for 36% of Puig's sales, thus occupying the second position, and the third most important was Asia Pacific with over 450 million euros.
Once again, Carolina Herrera has been the standout brand with which it has maintained the highest performance throughout the year. Fragrances have also become the largest business segment, generating sales of over 3.535 billion euros and accounting for 73% of the net revenue of the Catalan company, 13% more than last year.