Coty to Update on Market Beating Progress, Outlook, and White-Space Opportunities at CAGNY 2024 Conference
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
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.
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
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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
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.
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For more information:
Investor Relations
+1 212 389-7733
olga_levinzon@cotyinc.com
Media
+31 621 394495
Antonia_Werther@cotyinc.com
Source: Coty