Published by Global Banking & Finance Review®
Posted on February 18, 2026
2 min readLast updated: February 18, 2026
Add as preferred source on GooglePuig's net profit increased by 12% in 2025, driven by strong demand in makeup and skincare, reaching 594 million euros.
By Mireia Merino and Marta Serafinko
GDANSK, Feb 18 (Reuters) - Spanish beauty company Puig posted a 12% rise in 2025 net profit on Wednesday to 594 million euros ($703 million), as strong demand in makeup and skincare helped offset negative currency effects and slower growth in fragrances.
Puig, known for its perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier, attributed the net profit increase partly to the absence of IPO-related costs booked in 2024, when net profit stood at 531 million euros. However, currency movements had a negative impact of 2.6% last year.
The results come as global beauty groups face slowing fragrance demand after several years of rapid post-pandemic growth, while Puig has also taken pricing actions and earlier inventory shipments to tackle U.S. tariffs.
Puig expects 2026 margins to be stable and like-for-like revenue growth to be ahead of the premium beauty market. Chief Executive Officer Marc Puig said he expects the company to offset tariffs and foreign exchange "with operational efficiencies and a favorable product mix."
J.P.Morgan said in an analyst note that 2026 is shaping up as a transition year for Puig, and expected management to give more details on guidance.
"The challenge is to predict how the supercycle will go to normalization [...] So that's why we're a little reluctant to give numbers yet," Puig said.
Sales at constant currency climbed 7.8% to 5.04 billion euros, with demand for fragrances slowing, though its results remained within its annual guidance range, helped by makeup and skincare demand.
Fragrances and fashion, which account for about 73% of sales, grew 3.8%, while make-up and skincare categories expanded 10.7% and 7.3%, respectively.
The Barcelona- based firm proposed a dividend of 0.42 euros per share for 2025, maintaining its policy of paying out around 40% of reported net profit.
Its shares were up 4.6% to 16.92 euros at 1015 GMT, topping Spanish blue-chip IBEX 35 index and among top performers on pan-European STOXX 600 index
($1 = 0.8445 euros)
(Reporting by Mireia Merino and Marta Serafinko in Gdansk, editing by Matt Scuffham)
Net profit is the amount of money a company earns after all expenses, taxes, and costs have been deducted from total revenue. It is an important indicator of a company's profitability.
IPO costs refer to the expenses incurred when a company goes public, including underwriting fees, legal costs, and marketing expenses associated with the initial public offering.
Demand in finance refers to the desire and ability of consumers to purchase goods or services at a given price. It plays a crucial role in determining market prices and business profitability.
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