Coty raises FY23 adjusted EBITDA view to $965M-$970M from $955M-$965M

Additionally, Coty is increasing FY23 guidance for the third time this year and now expects FY23 adjusted EBITDA of $965M-970M, ahead of its previous outlook of $955M-965M, despite incurring close to $70M of negative FX impact, including over $10M in Q4. Sue Nabi, Chief Executive Officer of Coty, said: “Throughout its history, the U.S. and Europe have been Coty’s centers of gravity and our exploration of a dual listing in Paris is a natural next step. Since Coty invented modern perfumery over 120-years ago in Paris, this heritage and consistent innovations have cemented our position as a Global Beauty Powerhouse. As we mark this monumental anniversary as a beauty leader, we are delighted to host this investor conference in Paris to celebrate our continuing success across Prestige and Consumer Beauty, while deepening our connections with the European investment community. I am incredibly proud to showcase our differentiated business model of an innovative Prestige as well as rejuvenated, focused and increasingly strong Consumer Beauty portfolio, global reach in developed and emerging countries, strategically located centers of R&D excellence, award-winning IP, and leading end-to-end capabilities that position Coty as the partner of choice for global fashion houses. By combining our robust operational and financial performance and diverse team of beauty experts, we are accelerating our position as a global leader in fragrances and cosmetics. Together, we are realizing significant untapped potential in areas such as ultra-premium skincare, ultra premium scenting, China, Brazil, and Travel Retail. Uniting our beauty heritage, rooted in Paris, with cutting edge innovation and science, we will continue to create long-term value for our stakeholders.”