INVESTORS

Q3 2024/25 (April – June 2025)

DOUGLAS Group achieves solid growth and confirms guidance for 2024/25

• Solid Q3 sales growth across all segments except France:
  • Group sales increased by 3.2%, or 4.0% excluding the sold-off online pharmacy Disapo, to 1.0 billion euros – return to growth in Q3 vs. slight decline of -2.0% in Q2
  • Store sales grew by 2.1% (like-for-like, “lfl”: -0.7%) and E-Com by 8.2% excluding Disapo
  • Reported EBITDA: +1.4% to 154.6 million euros, rep. EBITDA margin: 15.3% (PY: 15.6%); adjusted EBITDA: -2.9% to 158.2 million euros, adj. EBITDA margin: 15.7% (PY: 16.7%)
  • Free Cash Flow up 3.0% to 104.8 million euros; net leverage of 2.7x (30 June 2025)
  • Net income turned to a profit of 17.3 million euros (PY: -71.6 million euros)
• Solid growth in first nine months of the financial year:
  • Group sales increased by 2.9%, or 3.8% excluding Disapo, to 3.6 billion euros
  • Store sales grew by 3.1% (lfl: +0.7%) and E-Com by 5.2% excluding Disapo
  • Rep. EBITDA up 8.5% to 626.7 million euros, rep. EBITDA margin of 17.4% (PY: 16.5%); Adj. EBITDA down -3.5% to 634.1 million euros, adj. EBITDA margin of 17.6% (PY: 18.8%)
  • Net income significantly improved to 161.3 million euros (PY: 12.2 million euros)

• FY 2024/25 guidance confirmed: Sales expected slightly above 4.5 billion euros (previously around 4.5 billion euros); adj. EBITDA margin at around 17%, net income at around 175 million euros and average Net Working Capital as a percentage of Group sales below 5%
• Sander van der Laan, CEO DOUGLAS Group: “We delivered higher sales in the vast majority of our 22 omnichannel markets and achieved solid overall growth – despite a subdued market development in France. Our largest market Germany also grew year-on-year. At the same time, we remain committed to keeping SG&A costs under control and driving our strategic and commercial initiatives, further strengthening our foundation to thrive in the future.”

Düsseldorf, 14 August, 2025 – The DOUGLAS Group, Europe’s number one omnichannel premium beauty retailer, closed the third quarter of the financial year 2024/25 with solid growth and a significantly improved net income. Sales from April to June reached the mark of 1 billion euros, the first time in a third quarter.

Sander van der Laan, CEO of the DOUGLAS Group, said: “We have delivered solid overall growth and are on track to achieve our guidance for the current financial year. While customers in France keep a tighter hold on their spending, the good development in the vast majority of our 22 omnichannel markets brought us back to quarterly growth after a challenging second quarter. Our largest market, Germany, also picked up again and grew year-on-year. That said, we continue to do our homework: We remain committed to keeping SG&A costs under control and driving our strategic development, including strengthening our brand and advancing our supply chain and IT capabilities. These initiatives will make us more resilient in the future. We are confident that we are well positioned to seize the opportunities ahead in a market that continues to grow.”

Solid sales growth in Q3 – E-Com regained momentum

Group sales in the third quarter rose by 3.2% to 1.0 billion euros (lfl: +2.5%) – a return to year-on-year growth after the slight decline of -2.0% in the second quarter. Excluding the sold-off online pharmacy Disapo, Group sales increased by 4.0% year-on-year. Q3 sales benefitted from the calendar shift of Easter into April, which had previously led to a negative effect on Q2 sales.

Sales developed positively across all segments with the exception of France, which continues to suffer from subdued consumer sentiment. Central Eastern Europe – the fastest growing region – continued its strong sales trajectory with +10.5%. Parfumdreams / Niche Beauty sales increased by 19.2%, mainly due to a more effective commercial approach of Parfumdreams as well as ongoing strong development at Niche Beauty – driven by a constantly improved assortment. The prior-year quarter was further affected by temporary supply chain disruptions in the course of the integration of PD logistics into the omnichannel warehouse in Hamm, Germany. The DACHNL segment showed solid growth of 3.2%, with sales mainly driven by E-Com, store openings and refurbishments. Southern Europe grew sales by 1.4% and in France, NOCIBÉ reported a slight sales decline of -0.9%, but continued to gain market share in both stores and E-Com.

Group store sales rose by 2.1%, mainly driven by the expansion of the store network (lfl: -0.7%). Store sales in DACHNL grew by 1.3%, while Central Eastern Europe (+7.7%) and Southern Europe (+2.5%) accelerated their positive development. NOCIBÉ store sales went down by 1.6%. Store footfall was up in every segment except for France – leading to an overall increase of 5.7%, highlighting the relevance and attractiveness of the DOUGLAS brand in city centers and in shopping malls.

The E-Com business regained momentum: Sales growth outpaced stores in every segment except for Southern Europe, growing by 5.4% (excluding Disapo: +8.2%). E-Com sales in Central Eastern Europe continued to develop strongly and improved double-digit (+20.9%).

Significantly improved quarterly net result

The DOUGLAS Group safeguarded its profitability in the third quarter of 2024/25, reflecting a consistently tight cost management with lower SG&A expenses. Reported EBITDA improved by 1.4% to 154.6 million euros, corresponding to an EBITDA margin of 15.3% (PY: 15.6%). Adj. EBITDA decreased by -2.9% to 158.2 million euros, resulting in a margin of 15.7% (PY: 16.7%).

The net result improved significantly to a profit of 17.3 million euros (PY: -71.6 million euros), mainly as a result of the successful refinancing following the IPO in 2024 and subsequently lower interest payments. Net leverage stood at 2.7x as of 30 June 2025 (30 June 2024: 2.8x). The Group improved its average Net Working Capital as a percentage of LTM[1] Group sales to 5.0% (PY: 5.3%).

Solid performance in the first nine months

In the first nine months of the financial year 2024/25, the DOUGLAS Group delivered solid growth. Group sales increased by 2.9%, or 3.8% excluding Disapo, to 3.6 billion euros (lfl: +2.4%). Stores contributed 3.1% growth (lfl: +0.7%) and E-Com sales went up by 2.6%, or 5.2% excluding Disapo. Reported EBITDA rose by 8.5% to 626.7 million euros, resulting in a reported EBITDA margin of 17.4% (PY: 16.5%). Adjusted EBITDA amounted to 634.1 million euros, down -3.5% year-on-year (adj. EBITDA margin: 17.6%; PY: 18.8%). Free cash flow was 412.8 million euros (PY: 465.2 million euros) and net income rose to 161.3 million euros (PY: 12.2 million euros).

Execution of “Let it Bloom” strategy continues

The DOUGLAS Group continues to develop its store network and is making good progress in its ambition to open around 200 new stores by the end of the calendar year 2026 and refurbish around 400 existing ones. It has opened 22 new own stores between April and June 2025, including a new flagship store in Antwerp, Belgium, as well as a new NOCIBÉ flagship store with 300m² of sales area in Europe’s largest shopping center, Paris La Défense. 39 existing own stores were refurbished (including relocations). One store was closed in the same period. In the first nine months of the financial year, the DOUGLAS Group has opened 40 new stores (net) in total.

In the execution of its growth strategy “Let it Bloom”, the company reached further milestones:

• Omnichannel: The DOUGLAS Group continues to improve its omnichannel offering for customers. Cross-channel sales grew by 24% in the third quarter, with DACH developing particularly well (+45%). The biggest growth driver, the newest cross-channel service Click & Collect Express, is currently being expanded to more markets together with the international rollout of all cross-channel services. The growing customer demand for them emphasizes the DOUGLAS Group’s omnichannel offering as the winning model in beauty retail.
• Supply Chain: In August, the new North OWAC (OWAC = “One Warehouse, All Channels”) in Poland commenced operations. By the end of this month, all E-Com orders from customers in Poland as well as store deliveries will be handled through the new omnichannel warehouse. In the course of 2026, the NOWAC will also serve additional countries. Previously, the new Corporate Brands facility, located within the NOWAC, had commenced operations in May.

2025 is a year of anniversaries for the DOUGLAS Group as the company celebrates not only the 25th birthday of its online shop and the 30th birthday of its loyalty program Beauty Card, but also the 115th year since the first DOUGLAS store opened its doors in Hamburg, Germany, on 1 June, 1910.

DOUGLAS Group confirms guidance for 2024/25

The DOUGLAS Group today confirmed its outlook for the current financial year. While the overall guidance remains unchanged, the company expects sales to be slightly above 4.5 billion euros (previously around 4.5 billion euros). The expectation of adj. EBITDA margin of around 17%, net income of around 175 million and average NWC of less than 5% of Group sales remains unchanged. In consideration of the global macroeconomic and political developments, the DOUGLAS Group will set up a new mid-term forecast as part of the business planning for the upcoming years and will thus comment on that at the full-year reporting in December.

Overview Financial Results (Q3 2024/25)

1. Sales per channel

2. Sales per segment

3. Key financial figures

Overview Financial Results 9M 2024/25

1. Sales per channel

2. Sales per segment

3. Key financial figures

Segment Overview: DACHNL (Austria, Belgium, Germany, Switzerland, The Netherlands), France (France, Monaco), SE / Southern Europe (Andorra, Croatia, Italy, Portugal, Slovenia, Spain), CEE / Central Eastern Europe (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia), PD/NB (Parfumdreams, Niche Beauty)

About the DOUGLAS Group

The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,920 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/24, the DOUGLAS Group generated sales of 4.45 billion euros and employed around 19,200 people across Europe. It was named the World’s Top Company for Women in 2024 among all retail and wholesale companies by Forbes. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.

For further information please visit the DOUGLAS Group Website.

Press Contact

Peter Wübben
SVP Group Communications & Sustainability
Phone: +49 211 16847 6644
Mail: newsroom@douglas.de

Investor Contact

John David Roeg
Investor Relations Lead
Phone: +49 160 5565762
Mail: ir@douglas.de

^[1] LTM = Last 12 months