Valois, the world's leading spray systems manufacturer for the health and beauty market, has reported a steady increase in its sales revenue and net income despite tough international conditions, reports Simon Pitman.
The company said that, despite a lackluster business climate and the impact of the decline in the US dollar, it had managed to maintain growth in its annual sales revenue, increasing it by 2 per cent to €277.5 million.
Sales have grown 30 fold from the level of 20 years ago and annual sales continue to be split equally between its two divisions, Pharmaceutical and Perfumery & Cosmetics, the company also said.
Net income for the year after tax grew 5 per cent to €23 million.
Although the company's market still largely revolves around the big fragrance and pharmaceutical industries back in the domestic market, success in expanding internationally has continued.
This strategy has meant that compared to sales generated outside France accounted for no more than 10 per cent of sales in 1978, Valois' international sales now account for 43.6 per cent of the total, at €121 million.
The continued improvement in international sales has been made in spite of the negative effect of the rising euro against the US dollar, the company pointed out.
The continued improvement in exports is in line with the company strategy to expand on a global basis. In other European markets such as Spain, the UK and Italy, the company is already strong.
However, it is North America where the company says it is currently a challenger rather than a market leader, but with a major manufacturing facility in this region, the company is expecting a higher growth rate in coming years.
Valois is a part of the US-based Aptar group , which is listed on the New York Stock Exchange. Although Aptar is also a leading manufacturer of dispensing systems for the personal care and cosmetic industries, synergies between the two companies do not currently extend beyond research and development.
Valois' cosmetics and fragrance division is divided into three activities: pumps - which includes sprays and dispensing systems, airless packaging systems and samples.
Most recently international cosmetics player Victoria's Secret specified Valois spray systems in a new range of miniature spray bottles containing different fragrances, launched at the beginning of this year.