Puig surpasses 5 billion euros in turnover and boosts profits by 13 percent

Madrid – Following the update from FashionUnited earlier this week, the Spanish fashion and beauty multinational Puig Group presented its annual results for the 2025 financial year on Wednesday. This marks the first time the company has done so before the start of a trading session since its stock market debut. The fiscal year ended on December 31. During this period, the owner of brands such as Carolina Herrera, Rabanne and Jean Paul Gaultier once again saw its balance sheets reach record highs.

According to information submitted to the National Securities Market Commission (CNMV), the management of the Puig group reported early this morning that the company closed the 2025 financial year with total net revenues of 5.04 billion euros (5.96 billion dollars). This figure represents an increase of +5.26 percent compared to the 2024 financial year. It is also an increase of up to +141.24 percent compared to the 2.09 billion euros in revenue from 2019, the last financial year completed before the disruption caused by the coronavirus pandemic.

Broken down by quarter, the company achieved this latest annual turnover volume after a final fourth quarter with revenues of 1.45 billion euros (+6.18 percent). This figure reactivated and boosted its growth, despite the impact of exchange rates, following the turnover results of the first quarter, with 1.21 billion euros (+7.87 percent); the second quarter, with 1.05 billion euros (+3.86 percent); and the third quarter, with 1.27 billion euros (+3.17 percent). In this regard, the company noted that for the full year, sales increased by +7.8 percent on a like-for-like (LFL) basis. Therefore, the company has positioned itself at the upper end of its annual forecasts for 2025, which aimed for turnover growth of between +6 and +8 percent (LFL).

Meanwhile, in terms of profitability, the company closed the financial year with a total net profit of 617.10 million euros. This is a +13.74 percent increase compared to the 542.53 million euros in 2024. This amount resulted in an attributable net profit of 593.69 million euros, a +11.88 percent increase compared to last year's 530.64 million euros.

“In 2025, Puig achieved a solid, high-quality performance,” stated Marc Puig, executive chairman of Puig, in a statement. “Throughout the year, we achieved high single-digit revenue growth of +7.8 percent LFL, at the upper end of the forecast range, while continuing to outperform the market.” “This reflects the strength of our portfolio, our agility and our ability to execute consistently in a more demanding environment,” he added. “I am proud to confirm that we have fulfilled all the commitments we made a year ago.”

Widespread growth, by business area and geography

Breaking down the group's annual results in more detail by business line, the ‘Fragrance and Fashion’ segment has once again remained the company's main source of revenue by a significant margin, with an annual turnover of 3.65 billion euros (+3.78 percent year-over-year growth). This was followed by the ‘Make-up’ segment, with revenues of 844.8 million euros (+10.72 percent), and the ‘Skincare’ segment, with 551.2 million euros (+7.34 percent).

In terms of performance by region, EMEA continues to be the largest region within the Spanish group's commercial structure, contributing annual revenues of 2.75 billion euros (+5 percent). This is followed by the Americas, where Puig's 2025 revenues were 1.76 billion euros (+2.62 percent). Finally, the Asia-Pacific region recorded the group's highest growth rate, despite its lower sales volume of 530.5 million euros (+16.56 percent).

Outlook for 2026

Looking ahead to the new 2026 financial year, all eyes are on Puig's upcoming Capital Markets Day, which the company has now decided to bring forward to April 14 in Madrid. At this event, the company is expected to unveil its short and medium-term strategies. It is also moving forward into a new fiscal year for which it anticipates “LFL revenue growth above the premium beauty market” and that “margins in 2026 will remain stable in a more demanding cost environment”.

For shareholder remuneration this year, the company remains committed to distributing approximately 40 percent of its reported net profit to investors. This commitment will result in the payment of a dividend of 237 million euros, equivalent to 0.42 euros per share, subject to the approval of the Annual General Meeting.

“In 2025, we concluded our previous five-year strategic plan, announced in early 2021, which set out our ambition to double our 2020 revenues in three years and triple them in five,” adds Marc Puig. In light of these latest annual results, “we surpassed these goals, more than doubling our revenues in 2022 and more than tripling them in 2025”. Building on this performance, and “looking to the future, although we expect the fragrance market's growth to continue to normalise, we are starting the new financial year with confidence”. “Given the strength of our brand portfolio and our capacity for constant innovation, we are well-positioned to maintain healthy growth and continue to outperform the premium beauty market”.