- Sales in three months to end of September increase 4.2% to EUR287.7m (US$320.7m)
- For first half of fiscal 2027, sales rise +2.9% to EUR510.9m
Rémy Cointreau has booked a mid-single-digit lift in sales from its most recent quarter, when China’s appetite for cognac appears to have returned.
For the three months to the end of September – the Rémy Martin brand owner’s fiscal Q2 – sales were up by 4.2% on the corresponding quarter last year. Building healthily on Q1’s 1.3% top-line increase, the group hit the halfway point of fiscal 2027 at just under 3% up.
As was the case three months ago, Rémy Cointreau had Asia Pacific to thank for its Q2 performance, most notably China, where cognac shipments picked up ahead of rhe country’s Mid Autumn Festival at the end of September. Indeed, China’s mid-teen increase in quarterly cognac sales for the group proved the main driver for the +10.3% sales showing for cognac in the half year.
Staying with cognac, and while the ‘Americas’ reporting region cycled challenging comparables – sales in North America tumbled by low double digits while Latin America soared by triple digits, “albeit from a low base” in Q2 – ‘Europe, Middle East & Africa’ (the group’s smallest reporting region) was up by “very strong” double digits. The latter was skewed slightly by preparations for distributor changes in France and the Benelux markets at the start of this month.
Over in liqueurs & spirits, home to the likes of Cointreau and Bruichladdich, declines were recorded in all three reporting regions in H1, resulting in a 7% drop in the stable’s sales. Of note was the company’s reference to “intense promotional activity and subdued consumer demand” across EMEA in recent months.
“For full-year fiscal 2027, Rémy Cointreau anticipates a return to sustainable … sales growth, with momentum expected to strengthen progressively over the year,” the company said. “On 25 November, Rémy Cointreau will host a webcast to outline its priorities in detail and present the group’s medium-term financial objectives.”
Next month’s presentation will take place almost a year to the day since CEO Franck Marilly, who had been in post for just five months at the time, identified what he called “five key levers to regain agility and drive performance”.
See below for a company presentation on today’s results.
