Gilles Andrier, CEO of Swiss fragrance and beauty company, reported solid half-year results with sales of CHF 3,652 million, up 6.2% on a like-for-like basis and 8.3% in Swiss francs. The company achieved balanced growth between mature markets and high growth markets, with sales up 5.4% and 7.4% respectively. The company also implemented pricing actions to compensate for higher input costs, resulting in comparable EBITDA of CHF 820 million and a margin of 22.5%, compared to 24.2% in 2021. Free cash flow was negative (-4.0% of sales) due to higher working capital requirements and investments. The company reported good growth in both fragrance and beauty divisions, with sales up 6.2% and 7.6% respectively. Sales performance was strong across all markets, with good growth in mature markets and high growth markets. The company also reported strong growth in EAME & LATAM regions.
