Coty has announced that fourth quarter net revenue was 1,168.3 million, a 10% increase compared to the previous year. Fiscal year 2022 net revenue was $5,304.4 million, a 15% increase compared to the previous year.
Q4
Coty's Q4 reported operating loss was $77.4 million.
Reported gross margin of 61.8% increased from 60.4% in the previous year, while adjusted gross margin of 62.1% increased from 60.9% last year.
Reported net loss was $286.0 million, compared to a net loss of $221.1 million in the previous year.
Fiscal Year 2022
Full-year operating income was $240.9 million.
Reported gross margin of 63.5% increased from 59.8% the previous year, while adjusted gross margin of 63.7% increased from 60.0% in the previous year.
Reported net income was $55.5 million, compared to a net loss of $166.3 million in the previous year.
Prestige Segment
In Q4, prestige net revenue was $662.8 million, or 57% of Coty sales, an increase by 16% compared to the previous year.
During Q4, the prestige fragrance category continued to see robust growth across North America and Europe, increasing approximately 20%, compared to the previous year, with all major markets generating double-digit growth.
Prestige cosmetics sales rose in the "strong" double-digits during the quarter, and were up by more than 70% during fiscal 2022. In skin care, Lancaster delivered double-digit growth in Q4 and full-year 2022.
The prestige segment generated a reported operating income of $9.7 million in the fourth quarter, compared to a loss of $17.6 million in the prior year.
FY22 reported operating income was $367.2 million, compared to $158.1 million in the previous year.
Consumer Beauty Segment
In Q4, consumer beauty net revenue was $505.5 million, or 43% of Coty sales, an increase by 3.0%, compared to the previous year.
The total Coty consumer beauty business continued to gain market share globally during Q4, driven by the strong performance of color cosmetics, which has increased share globally for eight consecutive months.
Operating loss was $24.8 million in A4, down from reported operating income of $1.1 million in the previous year.
FY22 reported operating income was $9.5 million, compared to $26.9 million in the previous year.
