Coty FY24: Growth in all regions and categories, total net revenue up 10%

Coty has announced its fourth quarter and full year results for FY24. The US beauty giant reported a 10% increase in total net revenue for the 12 months ending June 30, 2024 (up 11% year-over-year).

Both prestige and consumer beauty reported revenue growth, as did all regions and each core category. Segment-wise, prestige was a bright spot, with strong net revenue growth of 13%, which Coty said was driven by fragrances, makeup and skincare.

FY24 Adjusted EBITDA grew 12% to $1,091.1 million, above expectations, driving FY24 Adjusted EBITDA margin to 17.8%, up 30 basis points year-over-year.

Sue Nabi, Coty CEO, commented: “Our fiscal 2024 results set a new milestone for Coty’s continued superior execution and market performance. Beauty maintains its superior position against a dynamic macroeconomic backdrop and is neither a consumer goods industry nor a luxury industry. Rather, beauty is the sweet spot of desire, happiness, confidence, affordability, ritual, indulgence and the many new things we and our consumers will invent. This is what has driven the strong growth in global beauty that we are still seeing today and we expect to continue in the coming quarters and years."

“Coty transformed its organizational and strategic path several years ago and we are now a leader in the beauty industry and increasingly a trendsetter in the beauty industry, which we believe will usher in a new era for Coty as a giant in the beauty industry. Importantly, a key factor in this outstanding performance has been our unwavering commitment to investing heavily in marketing, regardless of macroeconomic fluctuations, because we believe this will create long-term value for our brands. ”