Germany's Douglas posts higher Q3 core profit (updated)

Douglas AG

14/08/2024 07:16

(Adds quote 2nd paragraph, margin 4th paragraph)
       Aug 14 (Reuters) - German perfume and cosmetics retailer
Douglas  DOU1.DE  reported higher core profit for its fiscal
third quarter on Wednesday, supported by its omnichannel
business model focused on premium beauty.
    "Our continued growth clearly confirms that our strategic
focus on premium beauty strongly resonates with our customers,"
Chief Executive Officer Sander van der Laan said in a statement.
    Its adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) rose 5.6% to 162.9 million euros ($179
million) in the three months through June, compared to 154.3
million a year earlier.
    That corresponded to a margin of 16.7%, slightly down from
16.9% in the same period last year.
    The Düsseldorf-based company also confirmed the
pre-announced sales growth of 7.3% to 977.1 million euros in the
third quarter, and reiterated its financial targets for the full
year.
    Douglas, which sells beauty products from brands like Chanel
and Dior, in July raised its annual sales growth target to 8.5%,
from around 7% previously, while reiterating its adjusted EBITDA
margin at 18.5% against the 17.7% reported last year.
    The company also said it had closed the sale of its
struggling online pharmacy business Disapo to Amsterdam-based
online prescription operator MYA Health at the end of July, as
expected.
        
  
($1 = 0.9101 euros)

 (Reporting by Eva Orsolya Papp and Andrey Sychev in Gdansk,
Editing by Milla Nissi and Elaine Hardcastle)
 ((EvaOrsolya.Papp@thomsonreuters.com;))