Eurofragance closes fiscal 2020 with a dip but predicts 20% 2021 growth

The fragrance creation firm closed the year with sales of €78m, 13% down on 2019

Spanish fragrance creation company Eurofragance has announced that it closed fiscal 2020 with sales of €78m, a decline of 13% compared with 2019.

The decrease, it said, was mainly due to the sharp sales decline in the fine perfumery category during the pandemic, notably in Q2 2020.

That said, given healthy forecasts and higher than expected sales in the first half of 2021, Eurofragance CFO Juan Ramón López Gil said: “We expect sales of €94m, representing 20% growth in the current financial year, despite normality having not yet returned across all markets.”

Commenting on the company’s journey through the pandemic, Laurent Mercier, CEO of Eurofragance, commented: “We have faced a number of challenges this year, but we are pleased with our results because we have weathered the first year of the pandemic storm.

“This is thanks to the resilience of our employees and the trust placed in us by our partners.  Production never stopped and we were able to continue providing customers with quality services and fragrances, enabling us to maintain our position as their partner of choice.”

 

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