Coty ended FY26 with net revenue of $5.8bn, down 2% on a reported basis and 5% like-for-like. Adjusted operating income fell 27% to $626.7m and adjusted EBITDA fell 22% to $846.9m. Reported loss widened to $618.0m while adjusted net income was $185.1m. Free cash flow rose 25% to $348.2m and net debt fell $839m to about $2.9bn.
Q4 returned to reported growth, but not yet to profit. Revenue rose 1% to $1.27bn on a reported basis and fell 1% like-for-like, including a 1% Middle East headwind. Adjusted operating income fell 42% to $39.5m and adjusted EBITDA fell 26% to $93.6m. Adjusted loss improved to $13.4m from $44.9m.
Prestige division generated sales of $3.81bn, or 66% of group sales, down 4% like-for-like in FY26 but only down 0.5% in Q4. Prestige fragrance fell 1% in Q4, while prestige cosmetics grew at a double-digit rate, helped by Kylie Cosmetics, Burberry and Marc Jacobs makeup. Prestige adjusted EBITDA fell 12% to $779.1m, with a 20.5% margin.
Consumer Beauty generated $2.00bn, or 34% of sales, down 7% like-for-like and down 3% in Q4. Mass body and skincare grew, but mass color cosmetics fell to a mid-single-digit rate. Lifestyle fragrance fell to low-single-digit rate, while adidas grew at a high-single-digit rate. Adjusted EBITDA fell 66% to $67.8mn, with a Q4 margin of 1.6%.
Regionally, Americas delivered $2.34bn, down 3% like-for-like for FY26 but up 6% in Q4, led by the U.S., Brazil and Travel Retail. EMEA, Coty’s largest region at $2.75bn, fell 8% for the year and 10% in Q4, with weakness in the Middle East, Germany and Central and Eastern Europe. Asia Pacific was $722mn, flat for the year and up 7% in Q4, supported by Travel Retail.
Coty expects Q1 FY27 like-for-like revenue to decline by a low- to mid-single-digit percentage and adjusted EBITDA to fall by a low-teens percentage, but is not yet giving full-year guidance while the strategic review continues through calendar 2026.
