Five weeks after booking its eighth consecutive quarter of declining sales, Rémy Cointreau has chosen to withdraw its longstanding forecasts to 2029-30.
The move, announced alongside further details of fiscal 2025 performance today, marks the abandonment of guidance initially shared five years ago. The brand owner had been looking for “high single-digit annual growth in sales on average”.
Among the reasons given for taking the decision were the “continued lack of macroeconomic visibility, the geopolitical uncertainties surrounding US-China tariff policies and the absence to date of a recovery in the US market based on improving underlying trends”. The brand owner, which saw its 12-month sales to the end of March slide by 18%, also flagged the pending arrival of new CEO Franck Marilly, announced last week, as grounds for the withdrawal.
Marilly will “establish his own strategic roadmap while remaining aligned with the value strategy implemented by the group for decades”.
In the near term, however, Rémy Cointreau said that the current financial year (from 1 April) has started well, thanks to a “strong technical rebound in sales to the US”. Phasing in the country, as well as in China, will likely result in sales increases coming back into play in H2 – October to March.
Operating profit this year could be hit to the tune of around EUR65m (US$74.1m) as a result of the anti-dumping levies on grape-based spirits by China coupled with the pending US tariffs of 20% on imports from the EU and of 10% on goods from the UK. For fiscal 2025, operating profit totalled EUR211.4m, the group said today, a 30.5% fall on the year prior.
