INTER PARFUMS (EPA:ITP) - Business volumes in line with expectactions for the 2019 first quarter

Transparency directive : regulatory news

25/04/2019 06:35

Business volumes in line with expectations for the 2019 first quarter

Paris, April 25, 2019

Consolidated first-quarter sales reached EUR126.6 million, up 4.1% at current
exchange rates and 0.3% at constant exchange rates from the same period in
2018.

Interparfums got off to a good start for the year, bolstered by Montblanc and
Jimmy Choo fragrances, meeting expectations with growth of 19% and 36%
respectively. These good performances were nevertheless mitigated by Coach
fragrances? technical decline, reflecting the high base effect from the
strong surge in sales between 2017 and 2018.

EURm                             Q1 18     Q1 19     19/18

Montblanc                         34.2      40.7      +19%
Jimmy Choo                        19.6      26.7      +36%
Coach                             22.4      18.8      -16%
Lanvin                            16.0      14.0      -12%
Rochas                             8.5       8.0       -6%
Boucheron                          5.4       6.3      +17%
Van Cleef & Arpels                 4.6       4.1      -11%
Karl Lagerfeld                     3.3       2.7      -19%
Other brands                       7.1       4.8        ns
Fragrance sales                  121.1     126.1       +4%
Rochas fashion royalties           0.5       0.5        ns
Total sales                      121.6     126.6       +4%

ns : not significant

Highlights by brand

Growth by Montblanc fragrances accelerated in the period with sales of more
than EUR40 million, up 19%, driven by the excellent start of the Montblanc
Explorer line, the brand?s 3rd men?s opus, but also a solid performance by
the Montblanc Legend line;

The launches of Jimmy Choo Man Blue and Jimmy Choo Fever lines in 2018, and the
Jimmy Choo Floral line in early 2019 fuelled further gains by Jimmy Choo
fragrances which grew 36% in the period with sales of EUR26.7 million.

Coach fragrances consolidated their positions with sales of nearly EUR19
million, with a technical decline reflecting the extremely strong growth
(+200%) in the 2018 first quarter linked to the different juices launched in
2017 and 2018. A 6th juice of the Coach line will provide a boost to the
brands? sales starting in the second quarter;

With sales of EUR14 million, Lanvin fragrances contracted marginally in the
absence of a major initiative in the period and pending the imminent launch of
A Girl in Capri that will bolster the offering in the 2nd quarter;

After Mademoiselle Rochas Eau de Parfum in 2017, Mademoiselle Rochas Eau de
Toilette in 2018, the Mademoiselle Rochas Couture line will add to Rochas?
sales.

Highlights by region

Revenue in the quarter was driven by sustained growth in North America (+7%)
and gains in Western Europe (+8%). The Middle East (+23%) benefited from the
good performances by Montblanc, Jimmy Choo and Boucheron fragrances.

Philippe Benacin, Chairman and CEO commented: "2019 got off to a good start
with sales volumes in line with our expectations supporting our target for
full-year revenue of EUR480 million. The initial market response to Montblanc
Explorer?s launch has been excellent and appears to confirm the growth
potential of this brand."

Upcoming event

Publication of 2019 first-half sales
July 24, 2019
(before the opening of Euronext Paris)

Investor relations and analysts contact
Philippe Santi
Executive Vice President
psanti@interparfums.fr

Press contact
Cyril Levy-Pey
Communication Director
clevypey@interparfums.fr

Shareholder information
+33 1 53 77 00 99
Interparfums
4 rond-point des Champs Elysées
75008 Paris - France
Tel. +33 1 53 77 00 00

Visit us on interparfums.fr

ISIN : FR0004024222-ITP
Reuters : IPAR.PA
Bloomberg : ITP
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25/04/2024 07:00

INTER PARFUMS (EPA:ITP) - Business volumes in line with expectactions for the 2019 first quarter

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