SPANISH beauty company Puig's first-half revenue grew 4.4 percent like-for-like basis, it said on Thursday as it posted its first results since talks ended in May on a possible merger with US cosmetics company Estée Lauder.
The collapse of the talks has shifted investor focus back to Puig's standalone growth prospects as fragrance demand normalizes following a post-pandemic boom in feel-good products, and as conflict in the Middle East weighs on travel retail, an important channel for premium beauty brands.
First-half net revenue was €2.35 billion ($2.71 billion).
The Middle East conflict reduced first-half total sales by 0.6 percent or by about €14.0 million, a slightly smaller impact than the company had expected.
The second-quarter impact on travel retail in the Middle East, where Puig generates a tenth of its sales, was estimated at €6 million.
Fragrances and fashion, the bulk of its revenue, rose by 1.9 percent, makeup by 5.8 percent and skincare by 1.2 percent, on reported basis.
The company confirmed full-year guidance, with adjusted EBITDA margins would remain stable.
It expects to outperform the premium beauty market on a like-for-like basis.
It will launch La Favorite for Jean Paul Gaultier, the brand's first women's fragrance debut in a decade, as well as 1 Million Black, the latest extension of Rabanne's 1 Million fragrance line, the company said on conference call.
Puig is in the process of recovering US tariffs paid in late 2025 and early 2026, Chief Financial Officer Miquel Angel Serra said.
