Puig, the Spanish beauty and fashion conglomerate, has projected a sales growth of 6% to 8% for the year 2025, maintaining its medium-term growth outlook despite a 'certain moderation' in the market, particularly in makeup and skincare. Marc Puig, the company's executive chairman, expressed confidence in the group's ability to outperform the premium beauty market, attributing this to the strength and appeal of its brands, which include Carolina Herrera, Rabanne, and Jean Paul Gaultier. This announcement came during Puig's first shareholders' meeting since its stock market debut in May 2024.
In a move to reward its shareholders, Puig's board is set to approve a dividend of €0.3768 per share, payable from June 12. The company also unveiled a long-term incentive plan for its executives and directors, with a total maximum amount set at €167 million. This plan involves the delivery of class 'B' shares over a five-year period, divided into three overlapping but independent cycles, aiming to align the interests of management with those of shareholders.
With a modest leverage ratio of 1.1 times adjusted EBITDA, Puig has significant financial flexibility, boasting nearly €900 million in resources for strategic acquisitions or to enhance its dividend policy. Marc Puig emphasized the company's commitment to 'selective acquisitions' and its ability to leverage its strong cash position, which stood at €882 million in cash and equivalents, to pursue growth opportunities or increase shareholder returns.
The company's robust performance in 2024, with sales growing by 10.9% to €4.79 billion and a net profit of €531 million, underscores its resilience and strategic positioning in the global beauty and fashion industry. Puig's forward-looking statements and financial strategies reflect a balanced approach to navigating market uncertainties while capitalizing on growth opportunities, reinforcing its status as a leading player in the premium beauty segment.
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