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Coty Inc. announces plans to gradually return equity distributions while forming agreements with banks to begin hedging a planned $200M share buyback program in 2024.
Source: COTY
COTY down -0.14%, OR down -1.18% Pre-market trading
The company anticipates continued strong free cash flow generation and steady deleveraging progress in the upcoming years.
Laurent Mercier, CFO of COTY, stated that the strategy for unlocking value expansion in the company has remained consistent, backed by three primary objectives, boosting sales and profit growth, deleveraging the balance sheet, and simplifying the capital structure.
The company’s last two years of solid performance allow the business to look conservatively towards the future and plan for shareholder distributions in calendar 2024.
Coty is committed to delivering strong EBITDA and cash flow in the upcoming years in different economic scenarios.
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