Bogart Group (Euronext Paris - Compartment B - FR0012872141 - JBOG), which specializes in the creation, manufacture and commercialization of luxury fragrances and cosmetics, has published its turnover for the first half of 2018.
|In € million (pre-audit figures)||2018||2017||Change at current exchange rates||Change at constant exchange rates|
|Other income on ordinary activities (Licenses)||0.6||0.7||-14.3%||-14.3%|
Bogart Group posted turnover of €59.2 million for the first half of 2018, up 0.3% on the same prior-year period at constant exchange rates.
Revenue for the period came to €59.8 million (including licenses) and breaks down as follows:
- Distribution: €17.8 million as against €20.6 million year on year, down 8.7% at constant exchange rates (-13.6% at current exchange rates). The decline can be attributed to market contraction in the Middle East, which impacted sales for the Ted Lapidus line (the Group's no.2 brand), prompting the company to change its distributor for the region, and, to a lesser extent, sales for Jacques Bogart products (the Group's leading brand). Carven, however, enjoyed very strong growth over the period in its distribution areas (Europe and Asia), on the back of the successful launch of the Dans ma Bulle fragrance.
- Boutiques: €41.4 million versus €40.7 million in the first half of 2017, up 4.9% at constant exchange rates (+1.7% at current exchange rates). Growth was up and above market levels across all geographic regions (France, Germany and Israel).
- Licenses: €0.6 million for a business trending toward stabilization.
Despite the decline in its Distribution business over the first half of 2018, Bogart Group remains confident in its ability to increase revenue and improve profitability over the year as a whole. Activity will be underpinned by the launches scheduled for the second half of the year at Ted Lapidus (Poker Face fragrance) and at Jacques Bogart (with a second fragrance due later in 2018) and the continuing success of Carven, which will launch in the United States this summer.
The Boutiques business is also expected to continue to grow, boosted by sales for the Group's own brands.
Bogart Group will publish its 2018 first half results during the week beginning September 24, 2018.
About BOGART Group
BOGART Group specializes in the creation, manufacture and commercialization of luxury fragrances and cosmetics. With a unique market positioning as a manufacturer-distributor, the Group is present in more than 90 countries, and markets its products in France via selective fragrance and cosmetics networks and overseas via local distributors and Group subsidiaries. The Group employs 1,134 members of staff and generates 77% of its turnover outside France. In 2017, the Group posted turnover of over €128 million.
Turnover by business division breaks down as follows:
- Distribution (29%): fragrances (Bogart own brands, Ted Lapidus and Carven, and licensed brands Chevignon and Naf Naf) and cosmetics (own brands Méthode Jeanne Piaubert and Stendhal).
- Boutiques (71%): own-brand fragrance chain.
Total Group revenues (Ted Lapidus licenses included) amounted to more than €129.5 million in 2017.
BOGART Group is listed on the Euronext Paris stock exchange (Ticker: JBOG – ISIN: FR0012872141)
Group website www.groupe-bogart.com