To be continued today … Rémy Cointreau

(AOF) – Rémy Cointreau achieved consolidated sales of 645.3 million euros in the first half, up 52% ​​organically (+ 49.8% as reported) and 26.9% organically compared to the first half of 2019-20 (pre-pandemic). This performance reflects the continuation of excellent momentum in China and the United States and a strong recovery in Europe, the French number two in wines and spirits said in a press release. Current Operating Profit stood at 212.9 million, representing exceptional growth of + 104.5% organically and + 100.4% as reported.

The current operating margin thus recorded a strong increase of +8.3 points as reported to 33.0% (+8.5 points on an organic basis), reaching its all-time high.

For the year 2021-22, Rémy Cointreau reiterates its confidence in its ability to outperform the exceptional spirits market and anticipates strong organic growth in its turnover, mainly linked to the performance of the first half.

The group also confirms its desire to significantly increase its investments in marketing and communication this year, particularly in the second half of the year, in order to support its brands in the rebound and to increase their growth potential in the medium term.

On the strength of its better than expected results in the first half of the year, Rémy Cointreau is raising its annual objective and is now aiming for very strong organic growth in its current operating income.

Given the Group’s desire to intensify its investments in marketing and communication, to control its strategic stocks in the fourth quarter and a high basis of comparison in the second half, organic growth in current operating income will only benefit from exceptional growth. of the first semester.

It will be moderated by unfavorable currency effects (estimated at around -5 million) and a scope effect of -2.4 million for the year as a whole.

As a result, Rémy Cointreau now anticipates an organic improvement in its current operating margin.