Q4 and FY20 Severely Impacted by COVID-19 Pandemic
Free Cash Flow Inline with Guidance and $1 Billion KKR Investment Bolsters Liquidity
Significant Improvement Expected in Q1, with Positive Adjusted Operating Income
Wella Divestiture On Track to Close by End of CY20
Action Plans Support over $200M of Fixed Cost Savings in FY21
Seasoned Beauty Executive Sue Y. Nabi to Start as Coty CEO on September 1st
NEW YORK--(BUSINESS WIRE)-- Coty Inc. (NYSE: COTY) today announced financial results for the fourth quarter and fiscal year ended June 30, 2020.
Financial Results
Results at a glance |
| Three Months Ended June 30, 2020 |
| Year Ended June 30, 2020 | ||||||||||||||||
(in millions, except per share data) |
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| Change YoY |
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| Change YoY | ||||||||||||
CONTINUING OPERATIONS |
|
|
| Reported Basis |
| Organic (LFL) |
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| Reported Basis |
| Organic (LFL) | ||||||||
Net revenues |
| $ | 560.4 |
|
| (63 | %) |
| (60 | %) |
| $ | 4,717.8 |
|
| (25 | %) |
| (20.3 | %) |
Operating loss - reported |
| (920.5) |
|
| 66 | % |
|
|
| (1,236.5) |
|
| 66 | % |
|
| ||||
Operating loss - adjusted* |
| (335.3) |
|
|