08.13.15
A month after closing its $12 billion groundbreaking deal with P&G for 43 beauty brands, Coty Inc has reported 2015 net revenues of $4.4 billion; sales were flat with last year’s. Adjusted operating income of $528.9 million increased 6% from $500.6 million in the prior-year. Reported net income of $232.5 million increased from $97.4 million in the prior-year. Adjusted net income of $359.5 million increased from $316.2 million in the prior-year. Adjusted earnings per diluted share of $0.99 increased 22% from $0.81 in the prior-year. Net cash provided by operating activities was $526.3 million compared to $536.5 million in the prior-year.
Strong like-for-like growth in Color Cosmetics was offset by declines in Fragrances and Skin & Body Care. The 8% like-for-like increase in the Color Cosmetics segment was driven by power brands, Sally Hansen and Rimmel. Fragrances declined 2% like-for-like driven by declines in celebrity brands and a lower level of new launch activity in select brands. Skin & Body Care declined 5% like-for-like, driven primarily by lower net revenues from body care brands adidas and Playboy, offsetting growth in Philosophy.
By geographic region, modest like-for-like growth in The Americas was tempered by flat like-for-like results in EMEA and Asia Pacific. The Americas’ net revenues grew 1% like-for-like, reflecting the contribution from the commercial distributor relationship with Avon in Brazil and a stable business in the U.S. EMEA revenues were flat like-for-like, as growth in Eastern Europe, the Middle East and South Africa, and consistent results in Germany and Southern Europe, were offset by declines in the U.K. and Travel Retail. Asia Pacific net revenues were flat like-for-like, reflecting growth in Australia and Travel Retail, consistent revenues in Southeast Asia, and declines in China in part due to a change in business model. Emerging markets grew 4% like-for-like during the year, accounting for 29% of net revenues in fiscal 2015 compared to 28% of net revenues in the prior year on a like-for-like basis.
Strong like-for-like growth in Color Cosmetics was offset by declines in Fragrances and Skin & Body Care. The 8% like-for-like increase in the Color Cosmetics segment was driven by power brands, Sally Hansen and Rimmel. Fragrances declined 2% like-for-like driven by declines in celebrity brands and a lower level of new launch activity in select brands. Skin & Body Care declined 5% like-for-like, driven primarily by lower net revenues from body care brands adidas and Playboy, offsetting growth in Philosophy.
By geographic region, modest like-for-like growth in The Americas was tempered by flat like-for-like results in EMEA and Asia Pacific. The Americas’ net revenues grew 1% like-for-like, reflecting the contribution from the commercial distributor relationship with Avon in Brazil and a stable business in the U.S. EMEA revenues were flat like-for-like, as growth in Eastern Europe, the Middle East and South Africa, and consistent results in Germany and Southern Europe, were offset by declines in the U.K. and Travel Retail. Asia Pacific net revenues were flat like-for-like, reflecting growth in Australia and Travel Retail, consistent revenues in Southeast Asia, and declines in China in part due to a change in business model. Emerging markets grew 4% like-for-like during the year, accounting for 29% of net revenues in fiscal 2015 compared to 28% of net revenues in the prior year on a like-for-like basis.