Coty(US:COTY)2023-08-22 17:22Financial Performance - FY23 adjusted EPS excluding equity swap was $0.38, a 36% increase year-over-year[7] - Q4 adjusted EBITDA increased 25% year-over-year, and FY23 adjusted EBITDA increased 7% year-over-year to $973 million[107, 87] - FY23 free cash flow was $403 million, in line with initial guidance[64] Revenue Growth - Q4 core like-for-like (LFL) revenue growth was +17%, exceeding the updated guidance of +12-15%[68] - Prestige core LFL grew +21% in Q4 and +13% in FY23[93] - Consumer Beauty core LFL grew +10% in Q4 and +11% in FY23[71] - Travel Retail revenues grew over 30% LFL year-over-year in Q4 and FY23[24] Regional Performance - Asia Pacific revenue increased 40% LFL in Q4 and 13% in FY23[76] - EMEA revenue increased 13% in Q4 and 13% in FY23[77] - Americas revenue increased 13% in Q4 and 10% in FY23[94] - Coty China Q4 LFL revenues were approximately 2x year-over-year and over 15% higher compared to two years ago[123] Strategic Initiatives - Coty entered a binding letter of intent to sell 3.6% of its Wella stake to IGF Wealth Management for $150 million[11] - Advertising and consumer promotion (A&CP) spending was approximately 28% during Q4 and approximately 27% for FY23[4]