Puig Brands SA Ordinary Shares - Class B

PUIG: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Puig Earnings: Solid First-Half Results on Perfume Strength in Americas and Asia; Shares Attractive

Dan Su

Sep 9, 2025

In 2025's first half, Puig posted 8% like-for-like sales growth, and a 9% adjusted EBITDA rise (margin widened 50 basis points to 19.4%). Management reaffirmed its full-year outlook for 6%-8% like-for-like sales growth and adjusted EBITDA margin expansion.

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Puig Brands SA Ordinary Shares - Class B

Puig Earnings: Solid First-Half Results on Perfume Strength in Americas and Asia; Shares Attractive

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