2013 H1 results. An operating margin of 25% - Annual targets raised.

PR Newswire/Les Echos/ 
interparfums 
2013 H1 results
An operating margin of 25% - Annual targets raised 
In a mixed market for perfumes and cosmetics, Interparfums achieved a
double-digit sales growth (+13% excluding Burberry fragrances) on broad-based
and continuing gains from Lanvin, Montblanc and Jimmy Choo fragrances and a 
very good start for Repetto's first fragrance. 
EURmillions (audited accounts)                 H1 2012      H1 2013      13/12 
Sales                                           208.9        218.5        +5% 
Operating profit                                 29.2         54.7       +87%
% of sales                                      14.0%        25.0% 
Net income                                       18.9         35.3       +87%
% of sales                                       9.0%        16.0% 
EURmillions (audited accounts)               31/12/12     30/06/13       13/12 
Shareholders' equity                            344.4        355.3        +3% 
Cash                                            207.9        191.3        -8% 
Exceptionally high margins 
With limited advertising expenditures for the Burberry brand due to the
license's termination, 2013 first-half results achieved exceptionally high
levels with a 25% operating margin and a 16% net margin. 
Sizable cash position maintained 
The Group's financial position remains excellent with EUR355 million in
shareholders' equity and EUR191 million in net cash at June 30, 2013, as lower
working capital requirements in the first half offset taxes paid on the gain
from termination of the Burberry license. 
Sale of the Nickel brand 
The Company countersigned a final letter of offer for the sale of the men's 
skin care trademark, Nickel, to the L'Oréal Group effective December 31, 2013
subject to the execution of the purchase and sale agreement, which is expected
before year-end. 
Paris, September 10, 2013 
Philippe Benacin, Chairman and CEO commented:
"Based on summer sales and prospects for the new Repetto and Boucheron lines in
the fall, we now anticipate annual revenue for 2013 of EUR335 million. As for
next year, with continuing expansion by existing lines and a sustained program
of launches, growth (excluding Burberry sales of 2013) could reach 15%-20% for 
a full-year revenue target of EUR280 million in 2014". 
Philippe Santi, Vice President, added:
"At the end of July, based on results expected for the first half, we had
decided to strengthen marketing and advertising efforts for the second part of
the year in a voluntary and targeted manner while raising our operating margin
objective to 12% for the full year. Today, on the strength of reported results,
we once again raise our targets. On that basis, operating income may now reach
approximately EUR47-EUR48 million leading to an exceptionally high margin of
14%. For 2014, in a more normal year, we have set an operating margin target of
10%-11%". 
Upcoming events 
Publication of 2013 third-quarter sales    Publication of 2014 detailed outlook
October 24, 2013                           November 20, 2013
(before the opening of                     (before the opening of 
NYSE-Euronext Paris)                       NYSE-Euronext Paris) 
Shareholder information                    Interparfums Investor Relations      
Tel.: +33 1 53 77 00 99                    and Analysts Contact                 


                                           Philippe Santi +33 1 53 77 00 00 -
                                           psanti@interparfums.fr               
                              

Media relations
Cyril Levy-Pey +33 6 08 46 41 41 - clevypey@interparfums.fr

www.interparfums.fr        Codes : Reuters IPAR.PA, Bloomberg ITP, 
                           ISIN FR0004024222-ITP Indices : CAC Mid & Small


                  
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-0- Sep/10/2013 08:20 GMT
 
 
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