Intercos is a world leader in the development and production of color cosmetic products for the main global players in the cosmetics industry.

The color activity (lipstick, powders and color emulsions) accounts for 73% of total revenues, and makeup pencils for 20%. Since 2006, Intercos also participates in the skin care market through its Swiss subsidiary CRB (7%). Intercos focuses on R&D and innovation carried out in its nine production centers around the world, with operations in Europe, North America and Asia.

Most of the top 15 global companies purchase cosmetics from Intercos and use formulas patented by the group. Customer relationships are strong and long lasting. Intercos employs approximately 2,300 people.

Despite stable revenues of makeup to consumers during the crisis, Intercos suffered in 2009 from the inventory reduction measures taken by its customers and distributors.

The decline in sales had a signifi cant impact on the EBITDA of the group, which implemented a major program in 2009 to control costs while continuing to invest in R&D and innovation.

Early indications from the U.S. market suggest that the inventory reduction process has been completed, while trends in Europe are less clear for 2010.
In the medium term, the current crisis could accelerate the long-term trend in favor of outsourcing, which benefi ts Intercos.
The company is in discussion with its banking partners to adapt its fi nancing to this new environment.