On Wednesday, Germany-based beauty retailer Douglas upgraded its sales forecast, predicting growth of 8.5 percent this fiscal year, up 1.5 percent from its previous outlook.
The firm, which raised €890 million ($967 million) when it went public in March, also announced telehealth company MYA Health B.V will buy its online pharmacy business, Disapo, for an undisclosed sum.
The company is now doubling down on its core premium beauty business, having added buzzy lines such as Naturium and Sol de Janiero. It also said on Wednesday it is on track to reach an adjusted EBITDA margin of 18.5 percent, up a percentage point from its last financial year.
Its share price jumped 4.7 percent following the announcement. The company’s stock was priced at the lower end of its IPO range, and is down some 18 percent since it returned to the German stock exchange in March (it was previously delisted in 2013 by private equity firm Advent International).
Sluggishness and low valuations have dogged the European public market, with ongoing concerns about the bloc’s slow recovery from multiple economic headwinds.
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CVC-Backed Perfume Retailer Douglas Raises $967 Million IPO
German perfume retailer Douglas AG priced its €890 million ($967 million) initial public offering at €26 a share, the bottom of a marketed range.
