AS MADARA Cosmetics (MDARA) H1 2024 earnings summary

Executive summary

• Achieved 9% year-over-year net turnover growth to EUR 11.21 million in H1 2024, driven by core MÁDARA brand focus and innovation.

• Completed strategic carve-out and sale of MOSSA and SELFNAMED.COM brands to streamline operations and focus on MÁDARA.

• Launched new products, including pressed powders and a natural niacinamide alternative, expanding makeup and anti-ageing segments.

• Strengthened sales force and expanded presence in key European markets, notably Germany and France.

• Debuted at Marionnaud flagship store in Paris and signed agreement with Boozt.com, enhancing global retail reach.

Financial highlights

• Net turnover reached EUR 11.21 million, up 9% compared to H1 2023.

• Gross profit increased 7% to EUR 7.52 million; gross margin decreased by 1 percentage point due to product mix.

• Profit before tax surged 253% to EUR 4.63 million, mainly from the EUR 4 million MOSSA brand sale.

• Excluding MOSSA and SELFNAMED.COM sales, profit before tax was EUR 741.56 thousand.

• EBITDA margin was 11%, down 6 percentage points year-over-year, impacted by higher sales and admin expenses.

Outlook and guidance

• Revised 2024 turnover growth target to EUR 21.41 million, reflecting the impact of brand divestitures.

• Plans to launch a retinol line extension, new men's skincare, and blushes in H2 2024.

• Continued focus on innovation pipeline and expanding partnerships with global retailers.