Investor Presentaiton
SOLID ADJUSTED EPS DELIVERY
$ Millions
Q1
Adjusted EBITDA
279
(Continuing Ops)
Depreciation
(78)
Net Interest
(60)
Income Tax
(40)
Other
(8)
Adj Preferred Dividend
(29)
Diluted Share Count
Diluted Adjusted EPS *
COTY
SINCE 1904
788
1Q21 adjusted EPS of $0.08, driven by strong
adjusted EBITDA results
• Tax rate at ~29% due to tax jurisdictions and
regional profit mix
Full year tax rate should remain in similar
range
•
•
Preferred dividend at $29M reflecting full KKR
preferred ownership through end of Aug
➤ Quarterly preferred div expense expected to
decline to ~$7M beginning in Q3
Wella Fair Market Value increased by $390M in
Q1, though mark-to-market change is excluded
from adjusted EPS
8 cents
* Diluted adjusted EPS calculated under the "if-converted” method for the Convertible Preferred Stock
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