Latest news with #RémyCointreau
Yahoo
2 days ago
- Business
- Yahoo
Notification of Availability of Rémy Cointreau 2024-25 Universal Registration Document
PARIS, June 30, 2025--(BUSINESS WIRE)--Regulatory News: Rémy Cointreau's (Paris:RCO) 2024-25 Universal Registration Document was filed with the French Financial Markets Authority (AMF) in the European Single Electronic Format (ESEF) on Monday, June 30, 2025, under the reference number D.25-0497. The document is publicly available under the current regulatory conditions and can be accessed on Rémy Cointreau's website at in both French and English, within the Finance / Publications and Events / Annual reports and Registration documents' section. It is also available on the AMF website at in French. The Universal Registration Document includes in particular: the annual financial report as of March 31, 2025, the report of the Board of Directors on corporate governance, the Statutory Auditors' reports, the statement of Auditors' fees, the description of the share buyback program the sustainability report. About Rémy Cointreau All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group's portfolio includes 14 singular brands, such as the Rémy Martin and LOUIS XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,856 employees and on its distribution subsidiaries established in the Group's strategic markets. Rémy Cointreau is listed on Euronext Paris. View source version on Contacts Investor relations: Célia d'Everlange / investor-relations@
Business Wire
2 days ago
- Business
- Business Wire
Notification of Availability of Rémy Cointreau
PARIS--(BUSINESS WIRE)--Regulatory News: Rémy Cointreau's (Paris:RCO) 2024-25 Universal Registration Document was filed with the French Financial Markets Authority (AMF) in the European Single Electronic Format (ESEF) on Monday, June 30, 2025, under the reference number D.25-0497. The document is publicly available under the current regulatory conditions and can be accessed on Rémy Cointreau's website at in both French and English, within the Finance / Publications and Events / Annual reports and Registration documents' section. It is also available on the AMF website at in French. The Universal Registration Document includes in particular: the annual financial report as of March 31, 2025, the report of the Board of Directors on corporate governance, the Statutory Auditors' reports, the statement of Auditors' fees, the description of the share buyback program the sustainability report. About Rémy Cointreau All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group's portfolio includes 14 singular brands, such as the Rémy Martin and LOUIS XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,856 employees and on its distribution subsidiaries established in the Group's strategic markets. Rémy Cointreau is listed on Euronext Paris.
CNBC
07-06-2025
- Business
- CNBC
Spirit makers face a sobering cocktail of challenges — from tariffs to teetotalers
Global spirit makers are staring down a sobering cocktail of challenges as tariffs and brand boycotts threaten to exacerbate wider shifts in drinking habits. French cognac maker Rémy Cointreau on Wednesday became the latest spirits maker, following Diageo and Pernod Ricard, to withdraw its sales targets on increased economic and trade uncertainty. "Given the continued lack of macroeconomic visibility, the geopolitical uncertainties surrounding U.S.-China tariff policies, and the absence to date of a recovery in the U.S. market ... the conditions required to maintain [Remy Cointreau's] 2029-2030 targets are no longer in place," it said in a statement. The move came as full-year sales at the group's cognac business, which includes its namesake Remy Martin brand, fell 22% on an organic basis on slowing U.S. consumption and "complex market conditions" in China. The popular brandy variety, which hails from the French region of Cognac, has been particularly caught in the crosshairs of ongoing U.S.-Sino tensions. LVMH similarly saw a 17% drop in its Hennessy cognac in the first quarter. But the specialty drink is far from alone as trade barriers weaken already drying demand for spirits. LVMH's wine and spirits remains the French luxury group's worst performing division, while Diageo spirits including Tanqueray, Gordon's and Smirnoff saw the steepest declines in the first quarter as sales of Irish stout Guinness rallied ahead. "Distilled spirits in the U.S. are going through a correction, and U.S. tariffs add another layer of uncertainty," Jefferies said in a note last month. The prestige — and often legal requirements — associated with spirits and wines mean that they are heavily dependent on local production and thus heavily exposed to U.S. import levies. Champagne must be produced and bottled within the Champagne region, for instance. "With spirits and wines you have terroir caches, and that means you're producing locally and exporting. Hence it's much more vulnerable to geopolitical tensions," Sanjeet Aujla, analyst at UBS, told CNBC via video call. Remy Cointreau estimated that tariffs as they currently stand could serve a 65-million-euro blow ($55 million) to its business after mitigating measures. Diageo, meanwhile, said about 25% of its business is set to be impacted by duties. The same does not apply for beer, which relies on local production and has been flagged as an unlikely winner from brewing trade divisions. Notably, the world's largest brewer AB InBev, as well as Dutch and Danish beermakers Heineken and Carlsberg all maintained their full-year guidance in the first quarter. As a result, wines and spirits are potentially more exposed to brand boycotts too, with consumers more likely to swap out a particular product on political grounds in favor of a locally-made alternative. The tariff hit comes as the industry has slowed over recent years following a strong decade of growth, particularly during the Covid-19 pandemic. Locked-down consumers forked out more on alcohol in 2020 and 2021, fueling a simultaneous surge in premium brands. "During the pandemic, not only did people drink more, they premiumized more," Aujla said. Spirits are often seen as an affordable luxury, especially in good economic times. But they nevertheless tend to be an occasional purchase, with many Covid-era stockpiles remaining in liquor cabinets across the world. As economic conditions turn, however, consumers may be less inclined to cough up $100 for a good bottle, instead downtrading or opting for lower-cost ready-to-drink (RTD) alternatives. "Spirits-based RTDs are weighing on distilled spirits growth alongside the impact of cumulative inflation," the Jefferies note said, adding that downtrading was most visible in vodka and rum products, while demand for premium whisky, tequila and gin remained more robust. "That [premiumization] is on pause today, given the cyclical headwinds we have in the industry," Aujla added. The drying demand comes as health and wellness trends spark a shift in consumer habits, with more people becoming "sober curious" and experimenting with lower alcohol consumption. Indeed, many drinks makers have sought to embrace that shift with new ranges of low and no alcohol products. Meanwhile, the proliferation of weight loss drugs — and early evidence of their role in suppressing alcohol cravings — pose another potential challenge for the industry. Nevertheless, analysts remain divided over the severity and permanence of the downturn. "There is considerable debate over the extent to which currently anemic demand is cyclical or structural," James Edwardes Jones, analyst at RBC Capital Markets, said in emailed comments. Cyclical pressures refer to economic headwinds and hangover supplies from the Covid-era, while structural shifts refer to changing consumer patterns. "It's a bit of both, and more cyclical than structural," Aujla said. "But when the cyclical headwinds dissipate, we think US Spirits industry growth will be 1-2% lower than the 4-5% historical growth."
Yahoo
05-06-2025
- Business
- Yahoo
The challenges facing Rémy Cointreau's new CEO
In under three weeks, former Shiseido and Chanel executive Franck Marilly will take the hot seat at Rémy Cointreau, joining a business where sales and profits have tumbled over the last 12 months. Marilly is also taking the helm at a spirits group where Cognac, a category under significant pressure in recent quarters, accounts for around 70% of sales. It's clear the new Rémy Cointreau CEO will have plenty in his in-tray and, while market watchers have a number of questions about the company's near-term prospects, there are, it's argued, some fundamental questions about the make-up of the business. The group's last financial year, which ran until the end of March, was another tough period for the Rémy Martin Cognac maker. Net profit decreased 34.4% to €121.2m ($138.4m), or by 36.8% organically. Operating profit was down 27.6% at €211m. The Bruichladdich whisky owner posted an 18% decline in full-year sales to €984.6m. It was the second successive year when sales and earnings declined. Rémy Cointreau was hit by falling Cognac sales amid a struggling category in the US – one of the two biggest markets for the spirit – and pressures in China, the other principal destination. The company has sought to point to positive signs for its Cognac business in both markets. In the Americas, fourth-quarter sales 'rebounded sharply', particularly in the US. Rémy Martin, the group added, had gained market share in China despite the 'persistently challenging market conditions' in the country. Marilly will take the reins as CEO as Rémy Cointreau nears the end of the first quarter of its new financial year and the market's eyes this week were on the company's thoughts for its 2025/26 fiscal period. The Cointreau liqueur maker expects sales to return to 'mid-single-digit growth on an organic basis'. It said the recovery would be 'driven primarily by a strong technical rebound in sales to the United States' starting in the first quarter. However, in a sign of the macro uncertainty hanging over Rémy Cointreau's Cognac business, its guidance for its so-called current operating profit came with a caveat. Tensions over tariffs, not just on imports to the US but on EU brandy shipments to China, meant Rémy Cointreau's projection for current operating profit was for growth 'in the high single-digit to low double-digit range' – but 'excluding any increase in customs duties in China and the United States'. At the moment, the company's 'worst-case scenario' is for the potential increase in tariffs to amount to €100m gross. This embedded content is not available in your region. Alongside the publication of Rémy Cointreau's full-year profits yesterday, the company became the latest major distiller to withdraw mid-term guidance. The group pulled its objectives for 2030 – drawn up a decade ago – pointing to 'the continued lack of macroeconomic visibility', tensions over tariffs and uncertainty over when the US market would recover. In February, Diageo pulled its medium-term guidance, citing 'macroeconomic and geopolitical uncertainty'. The same month, Pernod Ricard cut its sales forecasts, saying 'intense geopolitical uncertainties' were hitting the spirits sector. Analysts expected the withdrawal of Rémy Cointreau's guidance and more attention is on the near-term prospects of the company's Cognac portfolio in the US and China and, more broadly, how tariffs could impact the business. 'Management provided a more nuanced view of US depletions, confirming that while volumes remain mid-single-digit negative, the trend is improving sequentially. Notably, VSOP depletions are nearing flat, supported by tactical pricing actions and smaller formats,' Barclays analyst Laurence Whyatt wrote in a note to clients. He added, however, that outgoing CEO Eric Vallat has 'cautioned that it is still too early to declare a full sell-out recovery'. Across the Pacific in China, market conditions for Cognac are challenging for all brands, even if Rémy Cointreau has been able to eke out some market share gains for part of its portfolio, though, as Bernstein's Trevor Stirling says, it's unclear whether that progress has been achieved across the range. 'The Chinese market remains very weak with no near-term upside visible,' Bernstein said yesterday. 'However, Rémy has been consistently gaining share in XO, VSOP and e-commerce, though there was no mention of Louis XIII.' Reflecting on a post-results call between Rémy Cointreau and analysts, Whyatt said the company's management believes it can use the expected improvement in sales to bolster its position against any changes in tariffs. 'It clarified that the assumed €65m net tariff impact could be mitigated more aggressively than previously guided,' Whyatt said. 'Management now believes mitigation could reach 50–60% – up from the 35% initially communicated – if top-line momentum improves. This would reduce the net impact on current operating profit to €25–30m, suggesting a less severe downside scenario than originally feared.' It all adds to the impression that Marilly is walking into a pretty tough job. There are attributes of Rémy Cointreau's business that provide grounds for optimism. Its Cognac portfolio has a more premium bent that a few years ago, while its Liqueurs & Spirits – home to brands like Bruichladdich, Cointreau and The Botanist gin – has seen its organic sales jump by more than a third over the last five years (even if they fell by 9% in 2024/25). However, perhaps Marilly's fundamental task is to make Rémy Cointreau a broader business, one less reliant on Cognac. 'His big challenge is to further de-risk the company, diversify away from Cognac and diversify away from the US and China. Rémy Cointreau is just too dependent on those two countries and on the Cognac category,' one analyst who wished to remain anonymous said. That, of course, will take time – and require the company to be active in the M&A market. Last year, Rémy Cointreau set out plans to find €50m in costs during the fiscal period. Rémy Cointreau said yesterday it had extracted €85m over the last 12 months – and €230m over the last two years. It described more than half over those cuts as 'structural savings'. The group's net debt to EBITDA ratio stands at 2.4 times, providing, the unnamed analyst suggests some room for manoeuvre. 'The balance sheet is not too stretched and doesn't allow for massive acquisitions but there's ways around that if needed,' they said. 'It is important to make a clear step towards a more diversified structure from a category perspective and geographically.' Elsewhere in spirits, the likes of Diageo, Pernod Ricard and Campari have either sold assets in recent months, or have signalled more will follow. Those brands, however, have tended to be away from the more upmarket products Rémy Cointreau has tended to reach for in the past. The conundrum for the new Rémy Cointreau CEO will be finding the right kind of 'premium' asset, which more often than not are either small – so may not immediately help in any attempts to diversify – or be pricey. 'It has to do something with what they call terroir, preferably, with ageing, with a good story behind it,' the analyst says. 'That could be in Tequila, that could be in whisk(e)y, where I also would see probably the best fit with the company, probably the best growth opportunities. 'It would make sense to some extent, to make perhaps a little bit of a bolder move, because if you buy smaller brands, it's going to take a long time before you actually shift the balance a bit towards less Cognac. I know there's probably less opportunities when you think about bolder moves but it's definitely something that I think the board should consider.' "The challenges facing Rémy Cointreau's new CEO" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
04-06-2025
- Business
- Yahoo
Rémy Cointreau latest spirits major to ease back on forecasts
Rémy Cointreau has become the latest major distiller to withdraw mid-term guidance. The French spirits group today (4 June) pulled its objectives for 2030 – drawn up a decade ago. The Rémy Martin Cognac maker pointed to 'the continued lack of macroeconomic visibility', tensions over tariffs and uncertainty over when the US market would recover. Rémy Cointreau also cited the appointment of its new CEO, a move announced last week. The Bruichladdich whisky maker said Franck Marilly 'will establish his own strategic roadmap while remaining aligned with the value strategy implemented by the group for decades'. He joins later this month. Analysts expected the withdrawal the guidance, which came alongside the publication of Rémy Cointreau's annual financial results. In February, Diageo pulled its medium-term guidance, citing 'macroeconomic and geopolitical uncertainty'. The same month, Pernod Ricard cut its sales forecasts, saying 'intense geopolitical uncertainties' were hitting the spirits sector. Rémy Cointreau published its full-year sales at the end of April but today's announcement covered the group's profits. So-called current operating profit fell 28.7% to €217m ($247.8m) and by 30.5% on an organic basis. The group share of net profit decreased 34.4% to €121.2m, or by 36.8% organically. In April, the Cointreau liqueur maker posted an 18% decline in full-year sales on an organic basis to €984.6m. Last year, the group set out plans to find €50m in costs during the fiscal period. It said today it had extracted €85m. For Rémy Cointreau's new 2025-26 financial year, the company expects sales to return to 'mid-single-digit growth on an organic basis'. The company said the recovery would be 'driven primarily by a strong technical rebound in sales to the United States' starting in the first quarter. In a sign of the uncertainty about tariffs, not just on imports to the US but on EU brandy shipments to China, Rémy Cointreau's guidance for current operating profit was for growth 'in the high single-digit to low double-digit range' – but 'excluding any increase in customs duties in China and the United States'. At the moment, the company's 'worst-case scenario' is for the potential increase in tariffs to amount to €100m gross. Rémy Cointreau's share price, down by more than 42% in the last 12 months, was up 5.12% at €49.32 today at 17:00 CEST. "Rémy Cointreau latest spirits major to ease back on forecasts" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
