Total revenue is expected to grow 95-100% for full year 2023 compared to 2022. The strategic transaction with Givaudan is expected to generate $200M of license revenue in the second quarter. Core revenue is expected to follow approximate quarterly phasing of 15% of full year Core revenue expected in Q1, 25% expected in Q2, 27% expected in Q3, and 33% expected in Q4. Consumer brands are expected to continue to deliver industry leading growth in skin care, hair care, color cosmetics, baby care and healthy aging. "We are prioritizing delivering on our cash use targets from sequential quarterly improvements in our cost base, both cost of goods sold and operating expense. Our ‘Fit-to-Win’ program is expected to deliver over $150 million of annualized cash cost improvements and working capital efficiencies". Capital expenditure is estimated at $55M, 50% lower than 2022. No M&A activities are contemplated.
Published first on TheFly
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