Puig Brands SA (FRA:B1B)

Half Year 2026 Puig Brands SA Earnings Call Transcript

Jul 30, 2026 / 04:15 PM GMT

Release Date Price: €16.45 (-0.24%)

Transcript

Key Points

Positve

Puig Brands SA (PUIGF) delivered record net revenues of $2.35 billion in H1 2026, with like-for-like growth of 4.4%, outperforming the premium beauty market.
The company gained market share across all categories, with fragrance market share rising to 11.1% and makeup market share increasing by 0.4 percentage points.
Asia Pacific region delivered outstanding performance with like-for-like growth of 20.9%, driven by strong demand in niche fragrance and Charlotte Tilbury.
Adjusted EBITDA margin improved by 15 basis points to 19.5%, putting the company on track to meet its full-year 2026 guidance.
The innovation pipeline is robust, with high-profile launches like Jean Paul Gaultier's La Favorite and Rabanne's 1 Million Black expected to drive growth in H2.

Negative

Gross profit margin declined by 30 basis points to 75.5%, impacted by foreign exchange headwinds and increased distribution costs.
Skincare segment saw a moderate like-for-like decline of 0.3% in Q2, due to softer trends in premium skincare and product line adjustments at Charlotte Tilbury.
Free cash flow from operations worsened to a negative $196 million in H1, driven by a temporary increase in inventory levels against the macro backdrop.
The ongoing situation in the Middle East negatively impacted revenues by approximately €14 million, particularly in the travel retail channel.
Operating profit in the makeup segment fell sharply to €7 million from €12 million, reflecting planned increases in A&P investments behind Charlotte Tilbury.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PUIGb.MC - Puig Brands SA
Half Year 2026 Puig Brands SA Earnings Call
Jul 30, 2026 / 04:15PM GMT

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Presentation
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Unidentified_1 [1]
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Good evening and thank you for joining us as we discuss our results for the first half of 2026 that ended on the 30th of June.

Today we have with us our Chief Executive Officer, Jose Manuel Albeza, and our Chief Financial Officer, Mikael Angel Serra.

They will share some brief remarks on the performance, financial results, and outlook. We will then open up the line for Q&A.

You will find this presentation, the press release, and other supporting regulatory documents on our website, where you will also be able to access a replay of this recording shortly after the call concludes.

Jose Manuel, the floor is yours.

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