PR Newswire/Les Echos/ Record sales in 2012: EUR445m (+ 12%) Bolstered by strong year-end momentum, particularly in the United States and Asia, Interparfums exceeded its guidance for 2012 annual sales issued in the Fall. With record consolidated sales of EUR445.5 million, the company experienced continuing growth in the period, up 11.8% at current exchange rates and 6.9% at constant exchange rates over 2011, despite the particularly high comparison base from the launch of Burberry Body line in the prior year. This performance reflects very strong development by Montblanc (+51%), Jimmy Choo (+36%) and Boucheron (+96%) fragrances that generated combined sales of more than EUR100 million after just two years of activity as part of the Group's portfolio. Highlights by brand EURmillions Q4 11 Q4 12 2011 2012 12/11 Burberry 71.1 68.1 221.7 234.7 +6% Lanvin 17.8 15.4 57.8 60.4 +5% Montblanc 10.1 10.9 30.6 46.1 +51% Jimmy Choo 8.3 9.9 29.4 40.1 +36% Van Cleef & Arpels 6.1 4.6 20.4 17.8 -13% Boucheron 4.6 3.3 8.4 16.4 +96% S.T. Dupont 4.0 1.9 13.2 13.8 +5% Paul Smith 2.7 2.9 14.2 11.6 -18% Nickel 0.5 0.4 2.0 1.9 -8% Balmain - 0.5 - 1.5 na Other 0.6 -0.3 0.6 1.2 ns Total 125.8 117.6 398.3 445.5 +12% * Burberry fragrances were up nearly 6% with double-digit growth by the brand's historic lines and the continuing success of the Burberry Bodyline, although impacted by lower sales from the Burberry Sport line; * Lanvin fragrances for the first time exceeded sales of EUR60 million, with steady growth driven by continuing gains from the Eclat d'Arpège line and the launch of the Jeanne Lanvin Couture line; * With sales of more than EUR46 million, Montblanc fragrances delivered very strong growth (+51%), confirming the success of Legend (EUR22 million), now the Group's top-selling men's fragrance line; * Jimmy Choo also showed very robust gains (+36%) with sales of EUR40 million, based on a single women's line; * In a year without major launches, Van Cleef & Arpels fragrances remained resilient with sales of nearly EUR18 million; * The gradual re-release of Boucheron fragrances and a first initiative with the Jaïpur Braceletline have already generated EUR16 million in sales. Highlights by region EURmillions Q4 11 Q4 12 2011 2012 12/11 Africa 1.3 1.2 4.3 5.2 +20% North America 23.5 25.4 80.3 103.6 +29% South America 12.5 7.0 36.8 35.4 -4% Asia 17.6 17.4 65.3 72.9 +12% Eastern Europe 14.3 11.2 34.7 38.1 +10% Western Europe 33.8 34.7 103.3 108.5 +5% France 10.4 10.2 33.7 35.1 +4% Middle East 12.4 10.5 39.9 46.6 +17% Total 125.8 117.6 398.3 445.5 +12% * North America registered the year's biggest increase (+29%), boosted in particular by remarkable performances of Jimmy Choo and Montblanc fragrances in the US; * Expansion in the Middle East and Eastern Europe continued with gains of 17% and 10% respectively on robust growth in Saudi Arabia and Russia; * Asia (16% of revenue), and China in particular, showed continuing momentum with growth of nearly 12%; * Performances in Western Europe (excluding France) remain positive (+5%) despite weaker consumer spending in selected countries; * Finally, against a backdrop of modest growth for the perfumes and cosmetics market for both sales revenue and sales volume, France performed well (+4%). Burberry exit payment The EUR181 million exit payment for the Burberry license agreement, received on December 21, 2012, will be included in the 2012 consolidated financial statements. This amount will be recognized under the "Other non-current operating income and expenses" line item of the income statement after deducting approximately EUR25 million in expenses associated with the discontinuation of the license agreement. The corresponding tax at approximately 36% will be paid on April 15, 2013. On that basis, the Group will have approximately EUR200 million in net cash at the end of the summer of this year. Paris, January 29, 2013 Philippe Bénacin, Chairman and Chief Executive Officer commented: "With Lanvin, Montblanc, Jimmy Choo and Boucheron fragrances'growing successes and the significant potential of Balmain, Repetto and Karl Lagerfeld fragrances, we are confident in our prospects for continuing expansion in the years ahead, and on that basis, already in 2013 we expect sales of EUR300 million on growth of nearly 17% over the prior year excluding Burberry's contribution. In this context, our substantial cash resources will lead us to now expand our external growth strategy to pursue the acquisition of one or more brands on a proprietary basis in the fragrance, cosmetics or luxury universes." Philippe Santi, Executive Vice President, added: "Based on marketing and advertising expenses of around EUR98 million, our 2012 current operating margin should exceed 12%, a significant improvement on the prior year." Shareholder information Tel.: +33 (0) 1 53 77 00 99 Publication of 2012 annual results March 13, 2013 (before the opening of the NYSE-Euronext Paris stock exchange) 2013 Annual General Meeting April 22, 2013 Join us on Facebook Follow us on Twitter Interparfums Investor Relations and Analysts Contact Philippe Santi +33 (0)1 53 77 00 00 email@example.com Media contact: Watchowah Cyril Levy Pey +33 (0)1 53 77 00 00 firstname.lastname@example.org www.interparfums.fr Codes: Reuters IPAR.PA, Bloomberg ITP, ISIN FR0004024222-ITP Indices: CAC Mid & Small The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. 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Record sales in 2012: €445m (+12%)
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