- Strong growth of +4.4% LFL (+2.4% reported), reaching net revenue of €2,354 million in H1 2026, outperforming the premium beauty market
- All business segments and geographies delivered growth in H1 2026, led by Fragrance and Fashion, and Makeup
- Value Market Share gains across categories and regions, reflecting strong demand for Puig’s brands
- Adjusted EBITDA of €460 million, up +3.2% year-on-year, with margin improving by 15 basis points to 19.5%
- Adjusted Net Profit of €260 million in H1 2026, with margin improving by 30 basis points to 11.1%
- Net Debt/Adjusted EBITDA stood at 1.5x, reflecting the anticipated dividend payments and reduction of business combination liabilities
- Puig reaffirms its FY 2026 outlook, expecting to outperform the premium beauty market on a like-for-like basis with stable Adjusted EBITDA margin expectations, in line with FY2025
Jose Manuel Albesa, CEO of Puig, said: “Puig delivered a strong first half of 2026, gaining market share across categories and geographies. Our 4.4% like-for-like revenue growth reflects the strength of our connection with consumers around the world and the power of our distinctive brand portfolio.
Our performance was broad-based, with Fragrance and Makeup continuing to lead our growth. Carolina Herrera led growth in Prestige, while our Niche fragrance portfolio, led by Byredo, continued to deliver double-digit growth. Makeup maintained its excellent performance, led by Charlotte Tilbury, while within Skincare, Uriage continued to strengthen its competitive position, in spite of weaker performance in Premium skincare.
Our broad-based strength was visible across our geographic footprint. Asia-Pacific delivered outstanding like-for-like growth of +20.9%, underpinned by exceptional performances across categories. North America delivered strong performance, while Europe showed resilient growth. Despite a challenging backdrop, we have gained market share in Travel Retail, which continues to be an important channel for us.
Looking ahead, we remain confident in the long-term strength of premium beauty and in Puig's ability to continue outperforming the market. We are delivering healthy organic growth, powered by our exceptional brands and talent. We will continue to invest in our brands, innovation and execution while staying focused on disciplined growth and long-term value creation. We are well-positioned for the future, and we look forward to sharing more about our strategy with you at our Capital Markets Day.”