Coty to Update on Market Beating Progress, Outlook, and White-Space Opportunities at CAGNY 2024 Conference
February 20 2024 - 12:30AM
Business Wire
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 (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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240219852815/en/
For more information: Investor
Relations Olga Levinzon +1 212 389-7733
olga_levinzon@cotyinc.com
Media Antonia Werther
+31 621 394495 Antonia_Werther@cotyinc.com
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