Intercos Half-Year Report 2022

Group sales revenues in the first half of 2022 totaled Euro 367,948 thousand, increasing Euro 53,342 thousand (+17%). Despite the continued general economic uncertainty, rev- enues during the first half of the year grew across all regions and business units.

All business areas reported higher sales, with Make-up (+24%) particularly reporting its best revenues since the outbreak of the pandemic, followed by the Skincare busi- ness unit (+8.8%), which saw growth despite the lockdown in China, resulting in a slight decline in Q2 against the same period of the previous year, while finally the Hair & Body business unit was up 3.5%. Excluding the exceptional hand sanitizer sales as a result of the pandemic, the Hair & Body business unit grew 9.4%.

The industrial gross profit in the first half of the year was Euro 76,360 thousand (20.8% margin), compared to Euro 66,716 thousand in the comparative period (21.2% margin), in- creasing Euro 9,643 thousand (+14.5%) and with the margin decreasing 0.5 percentage points. This reduction is mainly due to the contraction in the Hair & Body business unit margin.

Adjusted EBITDA totaled Euro 48,650 thou- sand (13.2% margin), increasing Euro 4,566 thousand or 10.4% on Euro 44,084 thou- sand in the previous year (14% margin), with the margin contracting 0.8 percentage points against the comparative period.