Interparfums : Perfume still showing favourable momentum – Target price adjusted to € 54 (vs € 50)
>Favourable signs, seemingly no reversal in the market - Our key takeaways from the meeting are as follows:1/ The 2023 results factor in two non-recurring effects in 2024: i/ reserve releases of € 5m on the Karl Lagerfeld licence; ii/ a tax adjustment on transfer prices to the US subsidiary (€ 3m). At the net income level, the 2 phenomena virtually neutralise each other. The tax rate should fall to 25% as of 2024.2/ The start of the year is characterised by:...Interparfums SA. Interparfums SA, also known as Interparfums, is a French-based company engaged in the design, manufacturing and marketing of fragrances. The Company designs, produces and distributes perfumes and cosmetics under such brands as Burberry, Boucheron, Burberry Beauty, Jimmy Choo, Lanvin, Montblanc, Nickel, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels, Karl Lagerfeld, among others. The Company is present in Switzerland, Germany, Spain, Italy, the United Kingdom, Singapore, the United States, among others. The Company operates through the subsidiaries, including Interparfums Suisse Sarl, Interparfums Deutschland GmbH, Interparfums Srl, Interparfums Ltd, Interparfums Luxury Brands and Interparfums Singapore. As of December 31, 2013 the Company's shareholder was InterParfums Holding with 73,1% stake in the Company.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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