(Boursier.com) — Interparfums announces that the increase in invoicing prices practiced at the start of the year made it possible to limit the impact of increases in the prices of raw materials and packaging costs, as well as the slightly unfavorable evolution of the euro-dollar parity, the rate gross margin for 2023, thus showing a controlled and measured decline compared to 2022.
The sharp increase in sales volumes, as well as continued sustained investments in marketing and advertising, for an amount of 177 ME, or 22% of sales, combined with the recurring control of fixed costs, contributed to a strong increase in sales. current operating profit which exceeds 160 ME in 2023, up 16% compared to 2022. The current operating margin thus reaches 20% over a financial year. After taking into account the annual asset valuation tests, operating profit increased by 26% compared to the previous financial year and the operating margin thus reached 20.7%, an unusually high amount.
If the average tax rate has occasionally increased, the net profit follows the same trend with an increase of 19% compared to 2022, to reach nearly 119 ME, the net margin approaching 15% over the period.
If Supply Chain issues continued to weigh on working capital requirements in 2023, the reduction in supply tensions in recent months should make it possible to reduce current inventory levels in 2024.
After payment of the second tranche of 40 ME linked to the Lacoste entry fee, the cash flow net of borrowings and financial debts reached nearly 55 ME and the shareholders’ equity amounted to 644 ME, or 66% of the balance sheet total. as of December 31, 2023.
Dividend and free allocation
The company’s Board of Directors, meeting on February 27, 2024, which approved the accounts for the 2023 financial year, decided to propose to the Combined General Meeting of April 16, 2024:
*A dividend of 1.15 euros per share, an increase of 20% compared to last year, i.e. an unchanged distribution rate of 67% of the net profit for the year;
*A new free share allocation next June, for the 25th consecutive year, at the rate of one share allocated for every ten shares held.
Quoting…
Board of Directors
The company’s Board of Directors has decided, on the recommendation of the Governance, Nominations and Remuneration Committee, to propose to the Combined General Meeting of April 16, the appointment of Ms. Caroline Renoux as an independent director for a period of 4 years. Founder and director of companies dedicated to CSR issues, Caroline Renoux will bring her expertise and long experience in sustainable development to the newly created CSR Committee…