Delpani bows out with a bang as Revlon earnings soar 21.8 percent for 4Q 2015

Delpani bows out with a bang as Revlon earnings soar 21.8 percent for 4Q 2015

Revlon’s Lorenzo Delpani has announced his intention to step down from his role as President and CEO of the cosmetics company, effective March 1, 2016 for ‘personal reasons’. The news was announced as Revlon posted 4.9 percent sales growth for the year ended December 31, 2015, excluding the impact of foreign currency adjustments (XFX), to reach US$1,914.3 million (down 1.4 percent adjusted).

The fourth quarter was the highlight of the year, with 9.8 percent growth on a constant currency basis (4.2 percent adjusted) to US$521.9 million. Total EBIDTA soared 21.8 percent on an XFX basis to US$125.6 million for the final quarter of the year, bringing EBIDTA to US$377.5 million for 2015, an increase of 7 percent on an XFX basis.

“2015 ended with a very successful fourth quarter for both our Consumer and Professional segments,” commented Delpani. “The company has reinvigorated our key brands and increased our profitability. At the same time, we successfully integrated the Colomer business into the combined company and reduced our cost base. The company has built strong momentum, we are in a more competitive position, and we have more resources to invest in our brands.”

Consumer segment net sales were up 3.7 percent for 2015, driven by higher net sales of Revlon color cosmetics, Micthum anti-perspirant deodorants, Revlon ColorSilk hair color and Cutex nail care products. The Professional segment, meanwhile, achieved a rise in net sales to the tune of 2.4 percent, thanks primarily to the company’s professional hair products and Crème of Natura hair products, which offset lower net sales of CND nail products in the US.