Coty to Update on Market Beating Progress, Outlook, and White-Space Opportunities at CAGNY 2024 Conference
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Reiterates FY24 Outlook of +9-11% LFL Revenue and +11-12% Adjusted EBITDA Growth
Reaffirms Medium Term Algorithm for LFL Revenue Growth at Upper End of +6-8%, Adjusted EBITDA +9-11%, and Mid 20s % EPS CAGR
Deleveraging Progress on Track to Reach ~2x Leverage Exiting CY25
Reiterates FY24 Outlook of +9-11% LFL Revenue and +11-12% Adjusted EBITDA Growth
Reaffirms Medium Term Algorithm for LFL Revenue Growth at Upper End of +6-8%, Adjusted EBITDA +9-11%, and Mid 20s % EPS CAGR
Deleveraging Progress on Track to Reach ~2x Leverage Exiting CY25
NEW YORK—(BUSINESS WIRE) – February 20, 2024 – Coty (NYSE: COTY) (Paris: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, is pleased to confirm that Chief Executive Officer Sue Nabi and Chief Financial Officer Laurent Mercier will present at the 2024 Consumer Analyst Group of New York Conference (CAGNY) on Tuesday, February 20 at 1:00pm EST or 7:00pm CET.
Coty will provide an update on its strategic and financial progress, its outlook for the future of the beauty market, significant white-space opportunities the Company is targeting, and its plans to create the must-have beauty products of tomorrow. Whether it’s life’s little luxuries in mass beauty, a window into the world of high fashion through prestige fragrances, or the latest advanced skincare formulations, Coty is ideally positioned to capture this robust, viral demand through its rapid progress on advocacy marketing, especially behind its color cosmetics brands.
The Company has consistently and profitably outperformed the beauty market over the last 3 years, strengthening and premiumizing its balanced portfolio, underpinned by disciplined financial management and a successful deleveraging agenda. Coty is building on these strong foundations with a market beating outlook for FY24 of +9-11% LFL revenue growth and +11-12% adjusted EBITDA growth, implying margin expansion of +10-30 bps. Management’s impressive track record and the Company’s transformation underpins Coty confidence to deliver a best-in-class medium-term growth algorithm and drive leverage towards 2x exiting CY25.
Sue Nabi, Coty’s CEO said, “We have consistently and profitably outperformed the market over recent years, and we are ideally placed to continue to do so, by launching disruptive innovations which are fueling viral demand. We are demonstrating at full scale that Coty is the natural destination for top fashion licenses, thanks to our ability to build global Top 10 fragrance houses in less than 5 years. Our recently announced licenses with two exciting luxury brands, Marni and Etro, reinforce Coty’s position as the go-to beauty partner. Our leading capabilities underpin our latest milestones such as reaching the Top 2 fragrance ranking in both the attractive global travel retail channel as well as the booming global e-commerce channel. Through best-in-class science, innovative technology, and marketing that reaches consumers around the world, we predict our brands, products and new innovations will continue to shine.”
The presentation accompanying management’s remarks will be available on Coty’s Investor Relations website, under Events and Presentations. A live webcast of the presentation will begin at 1:00pm EST or 7:00pm CET and a replay of Coty’s remarks will be available at investors.coty.com/news-events-and-presentations.
About Coty Inc.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. We serve consumers around the world, selling prestige and mass market products in more than 125 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to protecting the planet. Learn more at coty.com or on LinkedIn and Instagram.
Cautionary Note Regarding Forward-looking Statements
The statements contained in this press release include certain “forward-looking statements” within the meaning of the securities laws. These forward-looking statements reflect Coty’s current views with respect to, among other things, its outlook, expected guidance, trends and strategic information. These forward-looking statements are generally identified by words or phrases, such as “anticipate,” “are going to,” “estimate,” “plan,” “project,” “expect,” “believe,” “intend,” “foresee,” “forecast,” “will,” “may,” “should,” “outlook,” “continue,” “target,” “aim,” “potential” and similar words or phrases. These statements are based on certain assumptions and estimates that Coty considers reasonable and are not guarantees of Coty’s future performance, but are subject to a number of risks and uncertainties, many of which are beyond Coty’s control, which could cause actual events or results to differ materially from such statements, including the factors identified in “Risk Factors” included in Coty’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and its subsequent quarterly reports on Form 10-Q. All forward-looking statements made in this press release are qualified by these cautionary statements. These forward-looking statements are made only as of the date of this press release, and Coty does not undertake any obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.
Coty provides guidance only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for restructuring, integration and acquisition-related expenses, amortization expenses, adjustments to inventory, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.
For more information, please contact :
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Olga Levinzon +1 212 389-7733
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