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Coty Inc. Reports Fiscal 2020 Fourth Quarter and Full Year Results

Published: 2020-08-27 10:00:00 ET
<<<  go to COTY company page

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)

 

 

 

Change YoY

 

 

 

Change YoY

CONTINUING OPERATIONS

 

 

 

Reported Basis

 

Organic (LFL)

 

 

 

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)