- Twelve-month sales rise 27.3% to EUR1.31bn (US$1.4bn)
- Year to end of March 2022 up versus pre-pandemic fiscal-2020 by 29.4%
- Top line down 9.4% in final quarter at EUR227m
A near-double-digit fall in fourth-quarter sales has failed to dent Remy Cointreau’s confidence in the longer term.
The Remy Martin brand owner was riding high in the six months to the end of September last year, with its H1 top-line up 52% year-on-year. However, the first three months of calendar-2022 came in down 9.4%, resulting in a full-year [to end of March] showing of +27.3%.
Prompting the positive tone from Remy was the near-30% lift in 12-month sales compared to fiscal-2020, when the COVID pandemic was yet to hit beyond China.
The company highlighted its success in riding pandemic-driven consumption trends such as “upmarket movement” and renewed interest in cocktails.
On a category basis, ‘Cognac’, dominated by Remy Martin and higher-end Louis XIII, posted a 26.3% full-year sales jump, with ‘liqueurs & spirits’, which includes Cointreau, Mount Gay rum and single malt Scotch Bruichladdich, climbing 31.7%. The group’s geographical target will continue to be the ‘Americas’ reporting region, where the +30% year-on-year showing outstripped ‘Europe, the Middle East & Africa’ (+22.4%) and ‘Asia-Pacific’ (+25.8%).
CEO Eric Vallat noted that an increase in marketing spend had contributed to the “record” results in fiscal-2022, while the continuation of favourable trends coupled with the portfolio’s “robust pricing power” set the scene for a “strong” start to the financial year ahead.
In March, Remy shook up its ‘Executive Committee’ with former China CEO Nicolas Beckers shifting to the Americas as incumbent Ian McLernon heading to EMEA/ McLernon also assumed responsibility for operations in North and South Asia Pacific as well as in Global Travel Retail.
Remy Cointreau’s official fiscal-2022 results announcement can be accessed here.
