Coty Inc. (NYSE:COTY) Q4 2024 Earnings Call Transcript August 20, 2024 4:45 PM ET

Company Participants

Olga Levinzon - IR
Sue Nabi - CEO
Laurent Mercier - CFO

Olga Levinzon

[Technical Difficulty] portion of Coty’s Fourth Quarter Fiscal 2024 Earnings. On Wednesday, August 21, 2024, at approximately 8.15 a.m. Eastern Time or 2.15 p.m. Central European Time, we will hold a separate live Q&A session on our results, which you can access via our Investor Relations website. Joining me for our presentation are Sue Nabi, Coty’s CEO, and Laurent Mercier, Coty’s CFO.

Before I hand the call over to Sue, I would like to remind you that many of the comments today may contain forward-looking statements. Please refer to Coty’s earnings release and the reports filed with the SEC, where the company lists factors that could cause actual results to differ materially from these forward-looking statements. In addition, except we're noted, the discussion of Coty’s financial results and Coty’s expectations reflect certain adjustments as specified in the non-GAAP financial measures section of the company's release. Thank you.

I will now turn it over to our CEO, Sue Nabi.

Sue Nabi

Welcome everyone. [Technical Difficulty] its privileged position. Beauty is neither a consumer goods industry nor a luxury goods industry. Instead, beauty is at the sweet-spot of desire, well-being, self-confidence, affordability, ritual, indulgence, and many new things that we and our consumers will continue to invent. This is what fuels the strong global beauty growth that we continue to see to this day and which we expect to continue for the quarters and years to come. In fact, beauty is a fundamental desire that has sustained over the millennia, and this desire has only accelerated in the recent years, with growing sophistication and premiumization, and is here to stay and to amplify. At Coty, having transformed our organization and strategic path several years ago, we are now performing as a beauty leader and more and more as a beauty trendsetter, which we believe is an opening for a new era for Coty as a beauty powerhouse. Importantly, a key element of this outperformance has been our unwavering strong investment into our marketing, regardless of the macroeconomic volatility, because we believe that this is what will create value for our brands for the long term. Since we began our transformation, we have maintained our A&CP levels in the high 20s percentage, and going forward we will make use of the levers at our disposal to allow us to maintain this level of support at a minimum, even as we expand our profitability.