Slides
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H1 2026 results September 9, 2026
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2 H1 2026 highlights (reminder)
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3 A number of persistent negative external factors • Geopolitical tensions • Economic uncertainty • Unfavorable euro-dollar exchange rate • US tariffs • Conflict in Eastern Europe • Conflict in the Middle East (6% of 2025 sales) A less favorable but still strong global fragrance market • In the United States (IPLB +9.1%* vs. Market +5.8%*) and in China • Haute Parfumerie segment Despite this situation, Interparfums had a strong start to the year • Sales at constant exchange rates: €430.6m (-3.7%) • Sales at current exchange rates: €414.3m (-7.3%) * Source: Circana – Retail figures Current situation H1 2026
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4 Annick Goutal • Opening (reopening) of long-established shops and shop-in-shops • Bellechasse • Saint-Sulpice • Bon Marché • Printemps 2025 dividend • €1.05 per share • 70% of net income 27th bonus share grant • 1 new share per 20 shares held • 88 million existing shares H1 2026 Other highlights
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5 H1 2026 activity (reminder)
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6 Activity by brand H1 2026 The fluctuation in the euro/dollar exchange rate* masks good (or very good) performance • Coach fragrances (+3% at current exchange rates -> +9.6% at constant exchange rates) • Jimmy Choo fragrances (+1% at current exchange rates -> +6.5% at constant exchange rates) • Montblanc fragrances (-1% at current exchange rates -> +3.4% at constant exchange rates) Lacoste fragrances down due to • A high basis of comparison • European consumers’ caution Very strong performance of Van Cleef & Arpels fragrances in increasingly selective distribution *1.17 on average in H1 2026/1.09 on average in H1 2025
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7 €m H1 24 H1 25 H1 26 26/25 Coach 85.9 106.3 109.7 +3% Jimmy Choo 101.0 104.2 104.9 +1% Montblanc 103.0 92.3 91.4 -1% Lacoste 36.8 52.2 41.2 -21% Rochas 20.5 19.8 17.5 -12% Lanvin 20.9 19.5 14.4 -26% Van Cleef & Arpels 13.2 12.3 13.2 +7% Karl Lagerfeld 12.0 14.6 11.8 -19% Other brands 29.3 26.9 9.9 ns Total sales 422.6 446.9 414.3 -7.3% ns: not significant Sales by brand H1 2026
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8 Coach 26% Jimmy Choo 25% Montblanc 22% Lacoste 10% Autres 15% Breakdown by brand H1 2026 Sales €414.3m Others
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9 Significant regional variances Some markets remain robust • United States • South America (Mexico) • China • Australia While others take a more cautious approach or are impacted by conflicts • Germany • Russia • Israel • United Arab Emirates * Source: Circana – Retail figures Activity by region H1 2026
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10 €m H1 24 H1 25 H1 26 26/25 Africa 2.9 3.2 3.4 +5% Asia 70.0 62.6 61.6 -2% Eastern Europe 30.7 35.2 28.0 -20% France 28.6 27.2 27.2 - Middle East 28.6 24.9 16.8 -32% North America 142.6 164.0 160.6 -2% South America 42.5 45.1 46.5 +3% Western Europe 76.7 84.7 70.1 -17% Total sales 422.6 446.9 414.3 -7.3% Sales by region H1 2026
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Breakdown by region 11 H1 2026 North America 39% Western Europe 17% Asia 15% Middle East 4% Africa 1% South America 11% France 7% Eastern Europe 7%
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H1 2026 results 12
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13 H1 2026 results (in €m) H1 2024 H1 2025 H1 2026 26/25 Sales 422.6 446.9 414.3 -7% Gross margin 274.4 292.9 278.8 -5% % of sales 64.9% 65.5% 67.3% +180 bp Marketing & Advertising 79.1 81.6 82.8 +1% % of sales 18.7% 18.3% 20.0% +170 bp Operating profit 92.7 103.8 87.3 -16% % of sales 21.9% 23.2% 21.1% -210 bp Net income 70.0 73.1 65.5 -10% % of sales 16.6% 16.4% 15.8% -60 bp
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Currency Average exch. rate H1 25 Average exch. rate H1 26 Impact on sales €/$ 1.090 1.167 -€15.7m €/£ 0.840 0.868 -€0.6m €/CD 1.543 1.602 -€0.1m Total impact -€16.4m Sales €430.6m at constant exchange rates Change -3.7% at constant exchange rates 5342 4 1 Dollar US : 53% Euro : 42% Livre Sterling : 4% Autres : 1%Autres : 1%Others: 1% 14 On sales Currency effect US dollar: 53% Pound sterling: 4%
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Gross margin (€m) H1 2026 results 15 Gross margin: €278.8m Gross margin rate: 67.3% (+180 pts) US tariffs • Amount reimbursed to date: $12.4m covering April 2025 - February 2026 • Impact on the first-half 2026 income statement: +$9m Gross margin rate excluding cost and reimbursement of tariffs • 66.7% in H1 2026 vs. 65.9% in H1 2025 (+80 pts) • Growing contribution of the US subsidiary • Control of cost prices and provisions for obsolescence 396.1 422.6 446.9 414.3 254.2 274.4 292.9 278.8 64.2% 64.9% 65.5% 67.3% H1-23 H1-24 H1-25 H1-26 Chiffre d'affaires Marge bruteChiffre d’affaires Marge bruteSales Gross margin
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Operating profit (€m) H1 2026 results 16 Operating profit: €87.3m Operating margin: 21.1% Operating margin excluding tariffs: 20.5% Higher marketing and advertising investments • Up 170 basis points • 20% of sales Increase in some transport (international situation, supply scarcity) & logistics costs 396.1 422.6 446.9 414.3 102.2 92.7 103.8 87.3 25.8% 21.9% 23.2% 21.1% H1-23 H1-24 H1-25 H1-26 Chiffre d'affaires Résultat opérationnelSales Operating profit
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Net income (€m) H1 2026 results 17 Net income: €65.5m Net margin: 15.8% A limited decline due to improvement in financial results A margin rate that remains high with a stable tax rate of 25.5% 396.1 422.6 446.9 414.3 77.9 70.1 73.1 65.5 19.7% 16.6% 16.4% 15.8% S1-23 S1-24 S1-25 S1-26 Chiffre d'affaires Résultat netChiffre d’affairesSales Net income
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Balance sheet at June 30, 2026 18 204 115 58 60 169 181 197 205 421 415 1,049 976 12/31/2025 06/30/2026 Immobilisations Stocks Clients Autres Trésorerie & Actifs financiers courants Property, plant and equipment: -€6.7m • A half-year period with no major acquisitions, after Annick Goutal and the head office premises in 2025 • Investments limited to €2.4m vs. €35.2m in H1 2025 Inventory: +4% • Increase in finished goods (+€10.6m) to support the H2 launches • Decrease in inventory of raw materials and components (-€3.1m) Trade receivables: +7% • Increase in trade receivables linked to some delays concentrated in the Export portfolio • Controlled risk: 88% of receivables of the Top 30 not due and first significant receipts in early July Property, plant and equipment Inventory Trade receivables Others Cash & Current financial assets (ASSETS) - €m
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(LIABILITIES) - €m Balance sheet at June 30, 2026 19 Equity attributable to owners of the parent: €709.7m • 73% of the balance sheet total vs. 70% in 2025 Borrowings and financial debt: -€23m • Loan repayments during the half-year period (-€23m) with no new loans taken out • Net debt €3.2m Other liabilities • An €18m decrease in trade payables due to the seasonality of purchases • Decrease in tax and social security liabilities (-€9m) and provisions for returns (-€6m) 176 147 141 118 732 711 1,049 976 12/31/2025 06/30/2026 Capitaux propres Emprunts et dettes financières Autres dettes Equity Borrowings and financial debt Other liabilities
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Change in Cash & Financial Assets €m 20 OPERATIONS INVESTMENT FINANCING 12/31/2025 Operating cash flow CHANGE WC OTHER TAXES ASSET ACQUISITIONS 2025 DIVIDENDS NET CHANGE BORROWINGS 06/30/202612/31/2025 Operating cash flow CHANGE WCR OTHER TAXES ASSET ACQUISITIONS 2025 DIVIDENDS NET CHANGE BORROWINGS 06/30/2026 98.6 -57.7 -3.6 -13.6 -2.4 -87.8 -23.0 115.0 204.5
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2026 publications & events schedule 21 Publication of Q3 2026 sales October 21, 2026 (before the stock exchange opens) Publication of 2027 outlook November 19, 2026 (before the stock exchange opens) Publication of 2026 sales January 27, 2027 (before the stock exchange opens) Publication of 2026 results February 24, 2027 (before the stock exchange opens) 2027 Shareholders’ Meeting Friday, April 23, 2027 - 2:00 p.m.
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22 ESG update
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Available on the Interparfums financial website 2026 ESG report 23
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24 ESG update Respond to requests from brands and distributors Expand our eco-responsible charter according to societal or regulatory developments (PPWR) Monitor the non-financial rating Our current topics
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Transparency One 25 Add Goutal and Solférino products DSM Firmenich - Onboarding via separate Excel file in progress
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Supply chain and raw materials mapping - All products 26 Map the number of raw materials identified per country (for all suppliers)
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Supply chain and raw materials mapping - All products 27 Map the number of raw materials identified per country (for all perfumers)
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Supply chain and raw materials mapping - All products 28 Map the number of raw materials identified per country (for all suppliers excluding perfumers)
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29 Outlook
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30 2026 outlook The recent conflict in the Middle East and the ongoing one in Eastern Europe negatively impacted sales in the first half and continue to do so in the second Expected sales between €850m and €870m in 2026, representing a moderate decline of approximately 3% at constant exchange rates compared with 2025 Excluding the impact of the conflict in the Middle East, estimated at around €15m in fiscal year 2026, the decline would be approximately 1% at constant exchange rates compared with 2025
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31 2027 & 2028 outlook A large-scale launch plan that includes some 20 major initiatives is in progress • New extensions for current franchises • New franchises for current brands • First lines for the brands recently included • Annick Goutal • Off-White • Longchamp Projects very well-received by all distributors during the presentations in recent months
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H1 2026 results September 9, 2026