PRESS RELEASE
Paris, 17 November 2022
BOGART (Euronext Paris - Compartment B - FR0012872141 - JBOG), which specialises in the creation, manufacture and sale of luxury fragrances and cosmetics, reports turnover of €198.4 million for the first nine months of the financial year, a strong increase of 22.7%. The Bogart Fragrances & Cosmetics division continued to post strong momentum in Q3 2022 activity while the Bogart Beauty Retail division benefitted from the extension of its scope of consolidation and a favourable currency effect.
| Revenues in €m (unaudited) | 2021 | 2022 | Change |
| Q3 turnover | 59.9 | 66.8 | +11.5% |
| Bogart Fragrances & Cosmetics | 10.7 | 12.0 | +12.1% |
| Bogart Beauty Retail | 49.2 | 54.8 | +11.4% |
| Other revenues | 2.5 | 2.8 | +12.0% |
| Total Q3 revenues | 62.4 | 69.6 | +11.5% |
| 9-month turnover | 161.7 | 198.4 | +22.7% |
| Bogart Fragrances & Cosmetics | 27.5 | 37.1 | +34.9% |
| Bogart Beauty Retail | 134.2 | 161.3 | +20.2% |
| Other 9-month revenues | 8.8 | 9.1 | +3.4% |
| Total 9-month revenues | 170.5 | 207.5 | +21.7% |
9-month activity
At the end of the first nine months of the 2022 financial year, the Bogart Fragrances & Cosmetics business achieved turnover of €37.1 million at end-September 2022 from €27.5 million a year earlier, representing a robust increase of 34.9% (up 30.9% at constant exchange rates). Activity was still buoyant in the third quarter for Western Europe, North America and the Middle East whereas Russia and Eastern Europe remained very sluggish in view of the current situation. The Stendhal brand's new "Recette merveilleuse" cosmetics products were very successful while new fragrances from the Group's flagship brands (BOGART and Carven, in particular) are currently in the launch phase and will therefore contribute to Q4 turnover.
The Bogart Beauty Retail business posted 9-month turnover of €161.3 million versus €134.2 million for the same period in 2021, up 20.2%. The division benefitted from the extension of its scope with the consolidation of Nocibé and Fann (Slovakia) stores[1] and a favourable currency effect. At constant consolidation scope and exchange rates, growth was almost stable at -0.6%. Bogart Beauty Retail reported a decline on an organic basis for Q3 2022 (down 6%) in the current inflationary context.
At the end of the first nine months of 2022, BOGART turnover amounted to €198.4 million compared to €161.7 million on 30 September 2021, a strong increase of 22.7% (up 5.7% at constant consolidation scope and exchange rates).
Strong Q4 2022 momentum for product launches in both businesses
BOGART is currently launching new fragrances for its key brands: Carven (women's fragrance), Jacques Bogart (men's fragrance) and Ted Lapidus (women's fragrance) which will all contribute to growth for the Bogart Fragrances & Cosmetics division in Q4 2022.
In light of the current context, BOGART remains cautious regarding the continued business contraction in its store network, despite the fact that Q4 traditionally generates higher revenues and profitability for Bogart Beauty Retail given the year-end holiday season and new launches underway for its flagship brands.
Through its April network in France, Belgium and Luxembourg, the Company has just launched its first natural haircare brand - "Cousin.e.s" following a partnership signed with French singer-songwriter, Slimane[2]. At a later date, these products will be launched by selective fragrance stores in Dubai and other European markets. Lastly, the April brand will also continue to roll out its 500 make-up references through its store network in Israel and Slovakia.
BOGART is paying attention to the current inflationary context weighing on costs (higher raw material and energy prices) but confirms its financial targets for an increase in full-year turnover and EBITDA for the 2022 financial year.
Next publication
BOGART will publish its fourth-quarter turnover on 2 February 2023
(after market)
Group website www.groupe-bogart.com
CONTACTS
BOGART
contact@jbogart.com
Tel.: +33 (0)1 53 77 55 55
ACTUS FINANCE & COMMUNICATION
Investor Relations
Anne-Pauline Petureaux
apetureaux@actus.fr
Tel.: +33 (0)1 53 67 36 72
Media Relations
Manon Clairet
mclairet@actus.fr
Tel.: +33 (0)1 53 67 36 73
[1] 38 Nocibé stores since October 2021 and 70 fragrance boutiques from the Fann chain in Slovakia since January 2022
[2] Through Slimane's company, Odyssée Cosmetics - See press release of 22 September 2022
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