Jacques Bogart : Strong increase in Q2 2022 activity: up 43.2% in a disrupted context

PRESS RELEASE
Paris, 28 July 2022
BOGART (Euronext Paris – Compartment B – FR0012872141 – JBOG), which specialises in the creation, manufacture and sale of luxurious fragrances and cosmetics, reported its first-half 2022 turnover.
Q2 2022 noticed a robust increase of 43.2% at present trade charges, pushed by the strong progress of the Bogart Fragrances & Cosmetics enterprise (up 79.0%). At the top of H1 2022, the Bogart Fragrances & Cosmetics division achieved an excellent greater degree of exercise than H1 2019, previous to the well being disaster. The Bogart Beauty Retail division benefitted from the extension of the consolidation scope of its turnover (38 Nocibé shops in France and 70 perfumeries of the Fann chain in Slovakia) and a beneficial comparability base (H1 2021 was marked by closures to the community in France, Belgium and Germany).
 

Revenues in €m (unaudited)
2021
2022
Change %

Q1 turnover
48.5
55.3
+14.0%

Q2 turnover
53.3
76.3
+43.2%

Bogart Fragrances & Cosmetics[1]
8.1
14.5
+79.0%

Bogart Beauty Retail[2]
45.2
61.8
+36.7%

Other Q2 revenues[3]
3.4
3.8
+11.8%

 
 
 
 

H1 turnover
101.8
131.6
+29.3%

Bogart Fragrances & Cosmetics1
16.8
25.1
+49.4%

Bogart Beauty Retail2
85.0
106.5
+25.3%

Other H13 revenues
6.3
6.3

Total H1 revenues
108.1
137.9
+27.6%

 
 
Robust increase in Q2 2022 exercise
 
BOGART achieved turnover of €76.3 million for the second quarter of 2022, representing substantial progress of 43.2%. Excluding the scope impact, progress stood at 21.3% (up 18.3% at fixed consolidation scope and trade charges).
 
The “Bogart Fragrances & Cosmetics” enterprise generated turnover of €14.5 million in Q2 2022 in comparison with €8.1 million in Q2 2021, a vital increase of 79.0%.
 
The robust progress in gross sales was supported by wonderful momentum in Western Europe and Asia; the Middle East additionally returned to normative ranges on the again of a two-year decline. Russia and Eastern Europe remained sluggish in view of the present geopolitical state of affairs.
 
The Group’s manufacturers loved robust worldwide enchantment, together with Carven with its “C’est Paris” fragrances for women and men. The model is successful market share in Western Europe, as are the cosmetics and skincare manufacturers Stendhal and Méthode Jeanne Piaubert. The Jacques Bogart model additionally delivered a brisk efficiency in Brazil, Australia and India, notably pushed by gross sales of its “Infinite” Silver Scent perfume for males.
 
The Group’s manufacturers additionally reported progress in the community of own-brand shops. Note that the April model benefitted from the beginning of the discharge of practically 500 new make-up merchandise in the France community. The vary can even be launched in Israel and Slovakia in the course of the second half of the 12 months.
 
Turnover for the “Bogart Beauty Retail” enterprise amounted to €61.8 million in Q2 2022 versus €45.2 million in Q2 2021, representing vigorous progress of 36.7%.
 
The Group was bolstered by the extension of its scope of consolidation (38 Nocibé shops since October 2021 and 70 perfumeries of the Fann chain in Slovakia since January 2022) however noticed a contraction in shopper spending throughout its networks of selective perfume chains. Excluding the scope impact, progress got here out at 10.8% (up 8.5% at fixed consolidation scope and trade charges).
 
All instructed, BOGART achieved first-half turnover of €131.6 million, representing a appreciable increase of 29.3% (up 15.3% at fixed consolidation scope and up 12.7% at fixed consolidation scope and trade charges).
At the top of H1 2022, turnover considerably elevated, however geopolitical and inflationary pressures led to reluctant spending in France, Belgium and Germany in the community with the sector additionally going through provide difficulties.
Against this backdrop, the gradual improvement of the April model via the latest integration of latest shops in France could have a quickly influence on H1 EBITDA. However, BOGART expects a robust restoration in the second half of the 12 months with an increase in 2022 EBITDA in comparison with the 2021 monetary 12 months. As a reminder, the Bogart Beauty Retail enterprise is traditionally extra worthwhile in the second half of the monetary 12 months.
A buoyant product launch plan anticipated in H2 2022
 
In the second half of 2022, BOGART will convey to market main new launches for its manufacturers.
In Q3 2022, BOGART will launch new “Recette merveilleuse” cosmetics merchandise for its Stendhal model following a full overhaul of the product line utilizing over 90% of pure origin elements.
Further out, BOGART will launch a new girls’s perfume for Carven and a new males’s perfume for Jacques Bogart in This fall 2022.
 
 
Next publication
H1 2022 outcomes: 29 September 2022 (after market)
 
Group web site www.groupe-bogart.com
 
 
CONTACTS
 
BOGART
[email protected]
Tel.: +33 (0)1 53 77 55 55
 
ACTUS FINANCE & COMMUNICATION

Investor Relations
Anne-Pauline Petureaux
[email protected]
Tel.: +33 (0)1 53 67 36 72
 
 
APPENDICES
 
Q2 2022 turnover at fixed consolidation scope and trade charges

Revenues in €m (unaudited)
2021
2022
Chg. %

Q2 turnover
52.6
62.2
+18.3%

Bogart Fragrances & Cosmetics
8.1
13.9
+71.6%

Bogart Beauty Retail
44.5
48.3
+8.5%

Other Q2 revenues
3.4
3.8
+11.8%

Total Q2 revenues
56.0
66.0
+17.9%

 
H1 2022 turnover at fixed consolidation scope and trade charges

Revenues in €m (unaudited)
2021
 
2022
Chg. %

H1 turnover
100.3
 
113.0
+12.7%

Bogart Fragrances & Cosmetics
16.8
 
24.3
+44.6%

Bogart Beauty Retail
83.5
 
88.7
+6.2%

Other H1 revenues
6.3
 
6.3

Total H1 revenues
106.6
 
119.3
+11.9%

 

[1] Fragrance/Cosmetic manufacturers division
[2] Own-brand boutiques division
[3] Income from licences and promoting rebates to manufacturers distributed via BOGART’s personal networks.

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