Douglas Group announces strong preliminary results for Q3, raises forecast

European omni-channel beauty firm Douglas Group has raised its sales growth forecast for the current financial year from previously around 7 percent to around 8.5 percent following sustained positive business development and strong preliminary net sales numbers for the third quarter and first nine months.

Commenting on the updated forecast, Sander van der Laan, CEO of the Douglas Group, said: “We have made excellent progress in recent years and months and increased our sales again in the third quarter. We are growing stronger than expected and continue to improve our profitability.”

Douglas said in a statement that the company is well on its way to deliver the mid-term earnings forecast of an expected adjusted EBITDA margin of around 18.5 percent, after 17.7 percent in the financial year 22/23.

In line with its strategy “Let it Bloom”, the group with its strategic focus on the strongly growing core premium beauty business, is selling its online pharmacy Disapo to MYA Health B.V.

Based on preliminary numbers, the Douglas Group increased sales by 7.3 percent in the third quarter with store sales increase of 7.2 percent and ecommerce sales growth of 7.5 percent.

In the first nine months, group sales increased by 8.7 percent to 3.5 billion euros with store sales rising by 8.2 percent and eommerce growing at 9.8 percent.