PR Newswire/Les Echos/
2009 sales: EUR259 million
Robust 2009 year-end sales
In 2009's challenging economic environment, Inter Parfums achieved very
satisfactory performances that further benefited from foreign exchange hedging
gains. Consolidated sales amounted to EUR259.2 million, contracting 2.1% at
current exchange rates and 6.2% at constant exchange rates compared to 2008,
though marginally exceeding the most recent guidance.
(E millions) 2008 2009 09/08
Burberry 169.0 166.2 -2%
Lanvin 39.0 40.6 +4%
Van Cleef & Arpels 21.0 20.2 -4%
Paul Smith 13.4 12.8 -5%
S.T. Dupont 11.4 11.5 +1%
Nickel 2.7 2.3 -13%
Other 8.4 5.6 ns
Total 264.9 259.2 -2%
ns: not significant
Highlights by brand
* In a year without any major launches of women's fragrance lines and sales
virtually unchanged in relation to the previous period, Burberry fragrances
consolidated its market share with the introduction of the Burberry The Beat
for men line and solid performances by the brand's existing lines including
notably Burberry Brit and Burberry The Beat;
* On buoyant trends for initial order renewals for the Jeanne Lanvin line,
further gains by the Eclat d'Arpège line (+13%) and the launch of the Lanvin
L'Homme Sport line, Lanvin fragrances maintained its positive momentum with
sales of more than EUR40 million;
* Declines by the brand's historic lines in favour of gains by Féerie and
Collection Extraordinaire launched respectively in 2008 and 2009 reflected the
successful repositioning of Van Cleef & Arpels fragrances in the exclusive
high-end segment;
* While volumes remained stable, Paul Smith fragrance sales were adversely
affected by the weakness of the pound sterling.
Highlights by region
* Against the backdrop of a decline in the French fragrance and cosmetics
market (Source: NPD Beauty Trends), Inter Parfums delivered good performances
(+3%) driven by the portfolio's main brands;
* Despite persistent sluggishness in selected markets, Western Europe
(excluding France) remained resilient, benefiting from, among other factors,
good performances by our four distribution subsidiaries (+6%);
* The Middle East and Asia continued to show robust growth of more than 10%;
* North America and Eastern Europe experienced significant declines (30% in
volume) in response to the sharp drop in consumer spending in the US and Russia
in late 2008 and early 2009.
2010 off to promising start, major launches planned
The Company is confident in the new year's outlook as it prepares for major
fragrance line launches by all its brands in addition to the launch of a
complete Burberry make-up line that will open up new opportunities for the
brand's strategic development.
Paris, January 26, 2010
Philippe Benacin, President and Chief Executive Officer declared: "The
partnerships concluded with luxury brands Jimmy Choo, last fall and, Montblanc,
last week, will further contri bute to the success of our strategy to expand
and strengthen the brand portfolio. These two brands that occupy leading
positions in their respective sectors offer us rich material to develop new
stories built around creative, original prestigious designer fragrance
products ".
Philippe Santi, Executive Vice President and Chief Financial Officer added:
"In a year of declining sales overall, Inter Parfums was able to deliver
quality financial results: the operating margin is expected to exceed 12% for
2009 while cash generation from operations could reach the
EUR45 million-EUR50 million range sustained by reductions of inventory levels
and the quality of our trade receivables collection".
Upcoming events Publication of 2009 results
March 10, 2000 and (before the opening
of trading on the Paris stock exchange)
2009 Annual Shareholders' Meeting
April 23, 2010
(2 p.m. - Pavillon Gabriel - Paris)
Shareholder information Investor relations - Inter Parfums SA
Tel.: +33 1 53 77 00 99 Philippe Santi, tel: +33 1 53 77 00 00
psanti@inter-parfums.fr
Media relations - RLPV Conseil
Cyril Levy-Pey, tel: +33 1 42 70 31 29
clevypey@inter-parfums.fr
www.inter-parfums.fr Codes: Reuters IPAR.PA - Bloomberg ITP -
ISIN FR0004024222-ITP Index: CAC Small 90, SBF 250
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