Rémy Cointreau expects 10 percent more profit y/y

Rémy Cointreau has seen an autonomous increase in turnover in the last financial year, which ran until March 2021, and expects an increase of approximately 10 percent for operating result. This was shown by the turnover figures announced by the French distiller on Friday.

Turnover was autonomously 1.8 percent higher at just over a billion euros. On a reported basis, turnover fell by 1.4 percent. The first half of the year saw a decline in sales, but the second half saw a recovery with an autonomous plus of 15.1 percent in the fourth quarter.

For the cognac labels, sales autonomously increased by 3.7 percent to 735 million euros and for liqueurs, sales autonomously decreased by 3.2 percent to 248 million euros. The partner labels showed a decrease of 1.5 percent to a turnover of 27 million euros.

Rémy Cointreau is expecting a rise in operating profit for the last financial year, on an organic basis, by approximately 10%, with a negative exchange rate effect of € 5 million. The distiller expects a good start for the current financial year, partly on the basis of a structural improvement in the consumer environment in the United States.