Coty Sees to increase his sales but no his income. The American giant presented to finals of August the corresponding results to the fiscal exercise of 2024, finalised on 30 June.
Coty, despite increasing its net revenues to $6,118 million, a 10% increase over the previous year, has not managed to generate higher revenues than in the previous year. In fact, the US group has seen revenues fall by 29%, stagnating at 323 million dollars.
Despite this, the figures obtained in revenues have exceeded the forecasts presented at the beginning of the fiscal year. The prestige business area was the fastest growing in 2024 with a 13% increase in revenues to 3,857 million dollars. The consumer beauty business area had a more relaxed growth: up 6% to $2.26 billion in total. Travel retail has also become an important business for Coty, accounting for 9% of total revenues for the group ($766.1 million). As has online, which has grown by 20% this fiscal year.
The group welcomed its strong performance in all markets in which it operates. In Europe, the Middle East and Africa, Coty's sales were up 11%, or $2,784 million in total. In the Americas, the group's turnover was slightly lower than in EMEA, but was also up 10% on last year, and in Asia Pacific, it was also up 9%.
With fiscal 2025 already underway, the US cosmetics and luxury group expects double-digit growth to continue, with travel retail and online commerce continuing to grow and drive the company's total revenues.