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The Intercos Group is one of the world’s leading business-to-business (B2B) operators in the creation, manufacture and marketing of products for cosmetics (color cosmetics or make-up), for the treatment of skin (skin care) as well as hair and body care (hair & body) destined for the main national and international markets, emerging brands, and retailers active in the make-up market and the beauty market in general.1

1 Source: estimate by a leading consulting firm based on public sources.


Founded by Dario Ferrari in 1972, the Group, whose most important clients are leading brands of the cosmetics industry, has a workforce of more than 5191 resources at December 31, 2020, 11 research centers, 15 production facilities and 15 sales offices located in three continents. The Group boasts a role as worldwide leader in the outsourced color cosmetics market with a market share of about 10%and an important position in the outsourced skin care market (the number one company in the West in terms of sales for the year 2020).

In 2019, the Group generated revenues of €712.7 million and Adjusted EBITDA equal to €116.3 million, with a Profit Margin of 16.3%. In 2020, the Intercos Group reported revenues of €606,507 thousand, Adjusted EBITDA equal to €86,950 thousand and an Adjusted Profit Margin of 14.3%, recording a decrease of 14.9%, 25.2% and 12.3%, respectively, compared to the prior year, caused by the spread of the COVID-19 pandemic.

For the first six months ended June 30, 2021, the Group reported revenues of €314,606 thousand, Adjusted EBITDA of €44,084 thousand and an Adjusted EBITDA margin of 14.0%, with a growth of 13.4%, an increase of 5.7% and a contraction of 1%, respectively, compared to the first six months ended June 30, 2020.

The Intercos Group has been interpreting beauty for more than 45 years, creating cosmetic products and standing forward as a trendsetter that can forecast, anticipate and influence new trends in the world of cosmetics, thus satisfying the requirements of all the various kinds of customers, with products suitable for every price range. The customer portfolio of the Intercos Group includes more than 680 customers throughout the world, distributed among Multinationals, Emerging Brands and Retailers which include 24 of the 30 foremost operators in the cosmetics industry in the color cosmetics, skin care and hair & body care markets. The mission of the Intercos Group is to continue to develop its role as a partner of the main players in the cosmetics market, acting as an innovator of trends and offering their ever-more innovative, high-quality products. To this end, the Group has dedicated a significant budget equal to about 5% of sales for each of the years 2020, 2019 and 2018, to innovation, including the contribution of 905 people, including 274 dedicated entirely to research and development at December 31, 2020. The Group is thus able to offer its customers a vast range of innovative formulas thanks to its teams and laboratories specialized in advanced research activities (dedicated to the development of new raw materials and active ingredients), and applied research (dedicated to the development of new formulas and technologies). In 2020, 2019 and 2018, in particular, about 81%, 78% and 77%, respectively, of the Group’s sales have derived from products based on formulas developed by the Group.

2 Source: estimate by a leading consulting firm based on public sources.

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