Priya Uri Gupta's questions to Coty Inc (COTY) leadership • Q4 2025
Question
Priya Uri Gupta from Barclays asked for clarification on the refinancing expectations for the 2026 debt maturity, specifically if it would maintain the current secured structure. She also inquired if the deleveraging path would be driven more by EBITDA improvement or by the sale of the Wella stake.
Answer
CFO Laurent Mercier confirmed that the upcoming refinancing will be consistent with the existing secured structure. On deleveraging, he explained that the strategy is twofold: it will be driven by improving EBITDA trends and disciplined capital management, with the potential divestiture of the Wella stake intended to serve as an accelerator for this process.