Intercos closed its 2024 fiscal 12 months with income of EUR 1.06 billion (USD 1.16 billion). Regardless of a cyberattack that disrupted operations within the first quarter and a weaker-than-expected market, significantly within the second half of the 12 months, the Italian producer achieved a 7.8% improve in gross sales in comparison with 2023 (+8.2% at fixed alternate charges), surpassing preliminary forecasts.
Following a downturn within the first quarter, the corporate rebounded strongly, posting double-digit progress in every of the following three quarters, with fourth-quarter income rising by 14.5% at fixed alternate charges.
“Our enterprise mannequin has as soon as once more demonstrated its vital stage of resilience. Intercos’ strategic diversification, capability to anticipate traits, and the innovation developed within the numerous geographic areas through which we function have enabled us to ship vital progress, even in conditions through which well-known sector gamers have encountered difficulties. Asia, and China particularly, noticed double-digit progress for our Group for all quarters, strongly countering the traits of the Western manufacturers within the area and outperforming our direct native opponents,” commented Renato Semerari, CEO of Intercos.
EMEA reported gross sales of EUR 559.5 million, up +10.3% on 2023, and Asia reported gross sales of EUR 212 million within the 12 months, a rise of +24.3% on 2023, regardless of the slight contraction of the Magnificence market in China. The Americas was the one geographical space reporting a slight contraction within the 12 months (-5.5%), contributing with gross sales of EUR 293.4 million, impacted by the truth that Intercos’ American plant was among the many hardest hit by the cyberattack and a sharply slowing magnificence market within the area.
The make-up section reported gross sales of EUR 619.8 million (+3.4%), whereas skincare grew by 6.1% in 2024, to EUR 167.1 million, following the numerous progress in 2023. Lastly, Hair & Physique reported gross sales of EUR 278 million, rising by 20.2%.
Relating to the outlook for 2025, Intercos identified that the Chinese language market doesn’t show tangible indicators of restoration, and that the US struggles to regain momentum, whereas Europe progressively revised its progress charges downward on the finish of 2024. Including to which might be uncertainties deriving from the geopolitical tensions and the dangers of commerce wars.
Regardless of this, “Intercos stays optimistic on its progress prospects, because it has beforehand demonstrated over time its capability to deal with complicated market environments.“
