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Interparfums: Pushed by a dynamic market, Interparfums will proceed to develop strongly in 2023

(BFM-Börse) – Interparfums is once again raising its sales forecast for 2022 and expects sales to increase next year. The group notes “still important activity in the United States” that has exceeded its forecasts last September and a renewed solidity of its flagship brands.

A future that smells good for Interparfums. The creator and distributor of prestigious perfumes (under license from major luxury brands) again increases its full-year targets on Tuesday while updating its outlook. The group benefited from “still significant activity in the United States” that exceeded its forecast last October. The visibility is such that Interpafrums expects an increase in its activities in 2023.

Interparfums has mastered the art of consciously setting conservative goals, then achieving them again and again and then exceeding them. Investors seem to have grown accustomed to this practice by now, but still appreciate the news. After a slow start, Interparfums shares rose 3% to 51.70 euros around 12 noon.

Business is going well for Interparfums, particularly in the United States, where the group’s activity is beating forecasts. Given the dynamism of its activities on the other side of the Atlantic and an “order book still so high”, Interparfums is revising its sales forecast for the group and now expects sales of between 670 million and 680 million euros.

The group, led by Philippe Benacin, previously targeted a range of between €640 million and €650 million for 2022, a target that had been raised last month.

In fact, last October, the group increased its annual ambitions after posting a record third-quarter performance. Between July and September, Interparfums’ activities thus exceeded expectations thanks to continued strong demand for its flagship brands.

confidence in the future

A sweet scent of serenity pervades next year’s sales targets. “Despite the current uncertainties”, the momentum imprinted in 2022 strengthens the group for the future. Interparfums therefore expects a “further increase in its activity” in 2023, with sales of between 710 million and 720 million euros.

The group confirms its operating margin target, which it also raised last October. Interparfums estimates that it should reach 17% by 2022. To achieve such a feat in this period of inflation, Interparfums took the lead from early 2022. The group had then practiced a price increase to offset the increase in the costs of raw materials and packaging.

“In 2023, with further increases in invoice prices expected in the first quarter and on the basis of a favorable euro/dollar parity, we should be able to maintain this level of operating margin,” said Executive Vice President Philippe santi .

For Oddo BHF, the growth indicated by the forecast for 2023 (i.e. +6%) is considered “particularly reasonable if we consider that the CEO, when publishing the sales for the third quarter, had indicated that the objective price increase in the 3-4% in 2023″. The design office is thus sticking to its positive focus on “outperformance” of the share with an unchanged price target of 56 euros.

Sabrina Sadgui – ©2022 BFM Stock Exchange

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