Full Year 2025 Remy Cointreau SA Earnings Call Transcript
Key Points
- Remy Cointreau (REMYF) maintained a strong gross margin of 70.6% despite challenging macroeconomic conditions.
- The company achieved significant cost savings, totaling EUR230 million over two years, with a focus on structural savings.
- Cointreau gained market share by leveraging the growth of cocktails, particularly in the US, and is exploring new consumption occasions.
- The Botanist brand has become accretive for the group, benefiting from the portfolio strategy beyond Cognac.
- Remy Cointreau (REMYF) made substantial progress in sustainability, achieving a 12% reduction in carbon emissions and a 53% reduction in net water consumption.
- Group sales declined by 18% organically, reflecting broader macroeconomic challenges.
- The US market remains challenging, with no clear signs of a rebound in sell-out trends.
- Potential tariff increases in China and the US could have a significant negative impact on financial performance.
- The company withdrew its '29/'30 objectives due to persistent macroeconomic uncertainties and tariff risks.
- The Cognac category, particularly in the US, faces challenges in recruiting new consumers beyond its existing core clientele.
Good morning, everyone, and thank you for being with us this morning for Rémy Cointreau full-year results. I am here with Eric Vallat, our CEO; and Luca Marotta, our CFO. Both of them will, of course, take you through the detailed results.
As we present today our full year results, I would like to open with a few words of perspective. The past year has been marked by a complex and rapidly evolving environment, macroeconomic volatility, geopolitical tensions and temporary shifting consumer behavior, all of which are more cyclical than structural and closely tied to a context of constrained spending. Yet in the face of these headwinds, we remained true to our long-term vision, building exceptional brands, preserving our unique terroirs and enhancing the desirability of our portfolio.
But let us not forget, Cognac has always evolved in long cycles. This is neither the first time nor the last. All the historic Cognac families will tell you how it is important to stay the course during more difficult times.
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