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Interparfums FY 2022: record earnings as operating profit soars 33 percent

THE WHAT? Interparfums has reported its results for the 2022 fiscal year. The fragrance giant recorded record earnings for the full year with net income up 40 percent on 2021’s figures and sales rising 26 percent to €706.6 million. THE DETAILS The company noted that it had extended its partnership with Montblanc until December 31, 2030 and, subject to the General Meeting’s ratification, hit its goal of achieving gender parity on its board. THE WHY? Philippe Benacin, Chairman and CEO, commented, “Against the backdrop of a turbulent economic and geopolitical environment, our sales and earnings continued to grow in 2022. In 2023, although many uncertainties still exist, this positive momentum should continue with sales expected to reach €750 million, driven by the continuing appeal of our brands for consumers in a global perfume market that remains buoyant.” The post Interparfums FY 2022: record earnings as operating profit soars 33 percent appeared first on Global Cosme
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PZ Cussons announced new sustainability-linked credit facility

PZ Cussons announced new sustainability-linked credit facility

THE WHAT? PZ Cussons has announced that it has agreed a new £325 million credit facility, which includes a pricing structure linked to the manufacturer of St Tropez’s new sustainability framework.

THE DETAILS The company set out new ESG targets in its FY22 annual report and is aiming to achieve B Corp certification across all business units by 2026, net zero emissions by 2045 and a third reduction in virgin plastics by 2030.

The group’s guidance of FY23 net interest charge of £4 million is unchanged as a result of the refinancing.

THE WHY? Sarah Pollard, Chief Financial Officer of PZ Cussons, said, “We are delighted to announce this refinancing, demonstrating our commitment to embed our sustainability framework into all parts of our business, while achieving attractive commercial terms. We are grateful for the support of our lending syndicate in this highly innovative facility.” 

The post PZ Cussons announced new sustainability-linked credit facility appeared first on Global Cosmetics News.



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