The Italian manufacturer reported a consolidated net profit of EUR 50.1 million for 2025, up 2.6% compared with the previous year.
Unfavorable currency impact
The adjusted net result rose to EUR 57.4 million from EUR 56.7 million in 2024, an increase of 1.3%.
This improvement came despite a 1.7% decline in revenue at current exchange rates, to EUR 1.05 billion from EUR 1.06 billion in 2024. This decline was largely attributable to the euro’s appreciation against the currencies of the markets in which the group operates. Excluding exchange rate effects, revenue edged up 0.3%, the Group said.
Makeup drives growth
Make-up, Intercos’ main business sector, confirmed its role as the company’s main growth engine, with revenue increasing 5.7% to EUR 655.2 million, driven mainly by Asia and EMEA, although all regions posted increases.
Sales of the skincare business unit, decreased to EUR 161 million (-3.6%), due to uncertainties caused by the constant changes to the U.S. tariff rules, according to Intercos. "Results in EMEA and Asia were strong, although not sufficient to offset the decline in the United States," highlighted the Group.
Sales in the Hair & Body business unit totaled EUR 231.1 million, down 16.9%, following very strong growth in 2024.
In 2025, make-up accounted for 62.6% of Intercos’ revenue (58.2% in 2024), with Hair & Body representing 22.1% and skincare 15.4%.
"In a year that proved more complex than expected due to the challenging geopolitical environment and the general consolidation of the Beauty market, particularly in the U.S., our Group successfully focused on recovering profitability," commented Renato Semerari, CEO of Intercos.
Positive outlook for 2026
For 2026, Intercos anticipates a rebound in revenue, with sales projected to grow 5% to 6%, backed by a gradual recovery in the beauty sector — particularly in Asia and the United States — and by a record level of order intake at the end of 2025.
