PRESS RELEASE
Paris, May 2, 2023
The start of the 2023 financial year got off to a good start in the Group’s two activities with a 1
er
quarter of 2023 in net growth of +17.2% at current exchange rates (+12.3% at constant scope and exchange rates).
|
Revenues in M€ (unaudited) |
2022 |
2023 |
Variation |
|
Q1 revenue |
55.3 |
64.8 |
+17.2% |
|
Bogart Fragrance & Cosmetics |
10.6 |
13.2 |
+24.5% |
|
Bogart Beauty Retail |
44.7 |
51.6 |
+15.4% |
|
Other T1 income |
2.5 |
2.8 |
+12.0% |
|
Total T1 Revenue |
57.8 |
67.6 |
+17.0% |
The turnover of 1
er
quarter of 2023 amounted to €64.8 million compared to €55.3 million in the same period last year, representing a net growth of +17.2% (+12.3% at constant scope and exchange rates).
The Group’s two activities posted double-digit revenue growth.
The pole
Bogart Fragrances & Cosmetics
continued its very good momentum already observed in 2022 and posted the strongest growth this quarter with revenue of €13.2 million (+24.5% at current exchange rates and +25% at constant scope and exchange rates compared to at 1
er
quarter 2022).
Growth was consistent across all geographic areas, with particularly sustained activity in North America and South America. Demand remains strong for BOGART’s flagship products, such as the Silver Scent line (Parfums Jacques Bogart), which is particularly driving growth. Number one selling this 1
er
quarter of 2023, Parfums Jacques Bogart was able to rebuild its stocks without being affected by significant supply problems.
At the same time, the cosmetics business is also growing on all its Méthode Jeanne Piaubert, Stendhal and April lines. Stendhal, which has completely overhauled its ranges, presents products made up of more than 95% natural ingredients.
The activity
Bogart Beauty Retail
posted revenue of €51.6 million on 1
er
quarter of 2023 compared to €44.7 million in the 1
er
quarter of 2022, up +15.4%, and includes a positive contribution from the Fann perfumery network for €4.1 million. At constant scope and exchange rates, revenue grew by +9.3% (the Fann perfumery network was retroactively integrated to June 30, 2022 but was not accounted for on June 1
er
quarter 2022).
From a geographical point of view, the growth of the activity
Bogart Beauty Retail
was particularly strong in the store networks in Europe (Germany and Slovakia) and in Dubai. In Belgium, the Di banner continued its positive momentum, while strategic reorganization measures involving a few store closures on the April network are underway in this country.
Outlook for 2023: a dynamic plan for brand launches
In this new 2023 financial year, the Group anticipates further growth in the brand business, whose development potential remains high. The active plan to deploy new products on the brands coupled with the benefit of extending the visibility of the April network to new territories (Slovakia, United Arab Emirates, etc.) will contribute to supporting the Group’s two activities.
The new launches of perfumes and cosmetics will mainly be positioned in the second half with a new Silver Scent perfume, a men’s launch on the Parfums Ted Lapidus brand and a new men’s/women’s duo for Carven (Carven is Paris La Nuit).
During this same period, Stendhal will also launch the Rosis Delicatea line dedicated to sensitive skin. On the strength of its good performance in Western Europe, the brand plans to expand its distribution to new territories.
At the same time, as mentioned in its 2022 annual results press release
[2]
thanks to network reorganization and optimization measures in France and Belgium, BOGART intends to regain better operational efficiency in the 2023 financial year with a strong recovery in its profitability in line with its usual standards.
Next meeting
Turnover of 1
er
semester 2023: July 27, 2023
Group website www.groupe-bogart.com
CONTACTS
BOGART
Such. : 01 53 77 55 55
FINANCE AND COMMUNICATION NEWS
Investor Relations
Anne-Pauline PETUREAUX
Such. : 01 53 67 36 72
Press relations |
[1]
Revenues from licenses and advertising re-invoices made to brands that are distributed in Bogart’s own networks.
[2]
See press release of April 27, 2023
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Regulated information:
Quarterly financial information:
– First quarter financial information
Full and original press release in PDF format:
https://www.actusnews.com/news/79598-cp_bogart_ca_t1_2023_vdef.pdf
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