Record sales in 2012: €445m (+12%)

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 
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Interparfums Investor Relations and Analysts Contact
Philippe Santi +33 (0)1 53 77 00 00
psanti@interparfums.fr 
Media contact: Watchowah
Cyril Levy Pey +33 (0)1 53 77 00 00 
clevypey@interparfums.fr 
www.interparfums.fr  Codes: Reuters IPAR.PA, Bloomberg ITP, 
ISIN FR0004024222-ITP Indices: CAC Mid & Small 
                  
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-0- Jan/29/2013 08:19 GMT
 
 
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