Revenues of € 485.4 million, an increase of 10.7%, Ebitda of € 70.6 million (+ 13.3%), with a margin on revenues of 14.5% and a net financial position of 180, 1 million, an improvement compared to the 194 million at 31 December 2020 (-7.2%): this is how Intercos – which recently made its debut on Euronext Milan – closed the first nine months of 2021.
Make-up protagonista
In particular, make-up recorded revenues of € 296.9 million, an increase of 11.6% thanks to the positive effects deriving from the relaxation of the restrictive measures (lockdown, social distancing and the obligation to wear masks) introduced for the containment of the spread of the pandemic which, on the other hand, had led to a significant decline in sales volumes in 2020. The largest sales were achieved thanks to the strong growth in demand in America, as well as to the continuous expansion in the Chinese market. In these two regions, the success of some strategic projects with emerging and multinational brands was significant.
Skincare, which reached a value of 93.7 million, an increase of 33.7% mainly attributable to the contribution to sales made by customers through the e-commerce channel; the contribution of the consolidation of Intercos Korea Inc. for the first nine months of 2021 with € 18.6 million; and to the growth recorded by the skincare market, which was confirmed to be the least exposed to the effects of the pandemic. On the other hand, the body and hair segment was down (94.8 million, -7.4%) essentially due to lower sales of hand sanitizers (which in 2020 had recorded a significant increase since they belonged to product categories aimed at to stem the possibility of contagion). In fact, net of the sales of these products, the sector had a growth of 4.4%.
Foreign markets
Group revenues for the EMEA area – the first outlet market – fell by 1.7% to € 240.1 million mainly due to the decline in sales in the first quarter of 2021 due to a lower collection of orders in the last three months of 2020, the period in which the second wave of the pandemic was underway, the effect of which is only partially offset by an increase in revenues generated starting from the second quarter of 2021 when reopening in Europe began, in conjunction with the acceleration of the vaccination campaign. In the Americas, 154 million were reached, up by 16.2% thanks to the recovery that characterized the area due to the reopening and vaccination campaigns undertaken well in advance of other geographical areas. This led to a significant increase in sales mainly due to the growth in multination customers compared to the same period of 2020, also thanks to the success of important projects that exceeded the expectations of the group. An important growth was recorded in Asia (91.3 million, + 47.5%).
The comment of the ad
“2021 is certainly an atypical year for all companies in the sector, characterized by a first quarter still marked by the effects of the pandemic and by a subsequent very strong acceleration in demand which, however, caused a strong global crisis in transport and the supply chain – he comments. the managing director of Intercos, Renato Semerari -. Against this backdrop, we recorded double-digit growth in consolidated revenues despite an unfavorable currency effect. Our results still do not fully reflect the company’s post-Covid recovery. The trend of our order entry and the entire portfolio are much more positive than our revenue trend, as they are already above the levels of 2019 ».