Coty leadership says company has ‘strong’ balance sheet, ample cash

By Devika Patel

Knoxville, Tenn., Aug. 22 – Coty Inc. management touted a “strong” balance sheet at the end of the company’s fiscal year on June 30.

“Our balance sheet remains strong with $535 million cash and $6.7 billion in net debt,” chief financial officer Patrice de Talhouët said on the company’s fourth quarter and year-end fiscal 2017 earnings conference call on Tuesday.

Free cash flow in fiscal 2017 of $325.2 million decreased from $351.3 million in the prior year.

Cash and cash equivalents at the end of the year were $535.4 million, an increase of $163 million from the prior year.

Total debt was $7,215,600,000, an increase of $3,045,500,000, while net debt of $6,680,200,000 was up $2,882,500,000 from the balance on June 30, 2016.

Coty is a beauty company based in New York.

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