Puig Brands, S.A. (PUIGF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and thank you for joining us as we discuss our results for the fiscal year 2025 that ended on December 31st, 2025. Today, we have with us our Chairman and CEO, Mark Butch, and our CFO, Joan Albiol. Mark and Joan will share some brief remarks on the performance, financial results, and outlook. We will then open up the line for Q&A. You will find this presentation, the press release, and other supporting regulatory documents on our website. You will also be able to access a replay of this recording shortly also on our website. Mark. Good morning, everyone. 2025 was another year of strong delivery for Putsch. We achieved record sales surpassing the 5 billion milestone in net revenue, representing the 7.8% like for like and plus 5.3% reported growth. At the top end of our six to 8% like for like growth outlook for 2025. Gross profit margin improved further to 75.1% despite the impact of tariffs and foreign exchange over the course of 2025. A reflection of our continued strong execution capabilities at scale. Adjusted EBITDA reached 1.045 billion with a margin of 20.7%. This is an impressive improvement versus 20.2% in 2024 and comfortably above our guidance for the year. Adjusted net profit grew to 587 million, a margin of 11.6%, growing 6.5% over 2024. This represents 1.04 of adjusted earnings per share. Reported debt profit was 594 million, or 11.8% of sales, up 70 basis points as we cycled the IPO-related one-off costs in 2024. Free cash flow conversion was solid at 64%. and we ended 2025 with leverage at 0.7 times net debt to adjusted EBITDA, comfortably below our threshold of two times. Joan will discuss our financial performance in further detail later in the presentation. 2025 was another year of strong disciplined execution with net revenues reachin...