Interparfums (ITP) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 sales reached €258m, up 20% year-over-year, driven by strong brand launches and momentum.

• Nine-month 2024 sales totaled €680m, an 11.4% increase year-over-year, despite a high comparison base from 2023.

• Growth attributed to major launches and successful new lines, especially for Lacoste and Jimmy Choo.

Financial highlights

• Q3 2024 sales: €258m (+20% year-over-year); nine-month sales: €680m (+11.4% year-over-year).

• Western Europe Q3 sales up 42%; North America Q3 sales up 9%; South America Q3 sales up 17%.

• Q2 2024 sales grew 16% year-over-year; Q1 2024 sales were flat.

• Full-year 2024 operating margin expected around 19%, with better-than-anticipated gross margin.

Outlook and guidance

• Q4 2024 sales expected between €200m and €210m, supporting annual targets.

• 2025 to feature substantial launch plan, including major line extensions and new lines for Lanvin and Rochas.

• Launch of Solférino Paris line and a Paris boutique planned for 2025.

• Profitability expected to align with guidance due to disciplined gross margin and targeted marketing spend.