Ambition to exceed €8 billion in annual net revenues by 2032, driven by organic growth and by scaling Puig’s core portfolio profitably.
A new target of over 22.5% Adjusted EBITDA margin by 2032, supported by continued focus, greater integration and continued cost efficiency.
Ambition to become a Top 4 Premium Beauty company and a Top 2 fragrance player by 2032.
Free Cash Flow conversion target above 50% of Adjusted EBITDA, representing over €900 million of Free Cash Flow in 2032.
Puig reiterates its commitment to a 40% Dividend payout ratio and leverage threshold of 2.0x at year-end.
Four focused portfolio priorities in Prestige Fragrances, Niche Fragrances, Charlotte Tilbury and Dermo-Cosmetics.
Region-specific strategy to reinforce its strongholds in EMEA, LatAm and Travel Retail, and accelerating growth and unlocking opportunities in North America and APAC.
Six clear white spaces identified at the intersection of brand and market priorities.
A more integrated operating model built around Global Brands, Global Markets and Global Functions, designed to accelerate profitable growth, and capture the benefits of scale while preserving creative autonomy.
Jose Manuel Albesa, CEO of Puig, said: “Vision 2032 is our plan to scale what works, profitably. Our ambition is to become an €8 billion-plus company by 2032, a Top 4 Premium Beauty company and a Top 2 fragrance player, while reaching an Adjusted EBITDA margin above 22.5%. We expect to deliver this ambition primarily through organic growth, driven by reinforcing our core portfolio, scaling our strongest brands and concentrating our resources on the categories, markets and channels where we have the clearest opportunity to win. Puig has consistently grown ahead of the premium beauty market while gaining share across its categories. Vision 2032 is designed to continue that outperformance, expand margins and strengthen cash generation, while preserving the creativity and entrepreneurial spirit that make Puig distinctive.”
