French cosmetics and fragrances group Bogart’s operating income skyrockets in 2017
In the 2017 financial year, French cosmetics and fragrances group Bogart (owner among others of Ted Lapidus and the April perfumery chain, and a licensee of Carven) recorded an operating income of €16.3 million, equivalent to a 49.5% leap over the previous year. The performance owed both to the optimisation initiatives of its subsidiaries and to a stricter control over operating expenditure.
In the period ending 31st December 2017, the group’s EBITDA was €15.1 million, up 8.6%. The growth was driven by Bogart’s distribution and direct retail activities, despite the former’s revenue slumping 11.9% to €36.9 million, notably due to problems in the Middle East and Brazil, two markets which usually generate a significant amount of business.
In 2017, the French group specialised in the design, production and distribution of fragrances and cosmetics recorded a revenue of €129.7 million, compared to €105.8 million a year earlier, equivalent to a 22.6% rise. The increase was generated mostly by Bogart's direct retail business, whose revenue boomed, rising from a 46.6% share of overall revenue to a 91.1% one, driven by expansion in Germany after the acquisition of the HC Parfümerie chain. Despite this, Bogart's comparable sales posted a 0.4% decrease.
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