Coty reports a 12% increase in annual sales

For its 2022/23 financial year, ending on 30 June 2023, the American beauty group Coty has reported sales of $5.55 billion (€5 billion), up 12% on a like-for-like basis and at constant exchange rates, higher than the group’s last forecast, which was for growth of between 9% and 10%.

Coty’s Prestige division, which includes the Lancaster, SKKN and Orveda brands, recorded growth of 13% over the year as a whole, to 3.4 billion dollars, benefiting in particular from the good performance of its perfume brands. Over the course of the year, the group renewed a number of licences, including Hugo Boss, Marc Jacobs, which now includes make-up, Davidoff and Jil Sander.

With its Rimmel, Max Factor and Bourjois brands, the Consumer Products division grew by 11% to 2.1 billion dollars. These results were driven in part by innovations such as Clean Fresh Yummy Gloss from CoverGirl and the Active Skin & Mind range from Adidas, with whom Coty has also just renewed its licence.

Geographically, sales rose by 13% on a comparable basis in Asia-Pacific to $705.9 million, by 10% in Europe, the Middle East and Africa to €2.5 billion and by 10% in the Americas to $2.3 billion.

EBITDA for Coty, which is considering a dual listing on the Paris Bourse, rose by 7% to $972.8 million.

Coty is now forecasting sales growth of nearly 8% in 2024 on a like-for-like basis.