CONSOLIDATED ANNUAL RESULTS 2018/2019

A record year for the group Current Operating Profit 2018/19 (+14.2%^*) 2019/20 objectives reached one year in advance New medium-term objectives

As of 31 March 2019, sales for the Rémy Cointreau Group totaled €1,216.5 million (proforma Pre-IFRS 15, 16 & 9), up 7.9% on a reported basis. In organic terms (at constant exchange rates and scope), growth amounted to 7.8%, thanks to the very strong performance of the Group Brands (+9.8%).

The Current Operating Profit (proforma COP) amounted to €263.6 million, up 11.3% on a reported basis and 14.2% on an organic basis. Once again this year, the remarkable momentum of our exceptional spirits (> 50USD) resulted in a strong increase in gross margin (+1.2 points in organic terms). This leverage, combined with good cost control, offset a significant increase in strategic investments in communication and distribution structures. As a result, the current operating margin (proforma) reached 21.7% at the end of March, an organic increase of 1.3 points. Thus, over the course of the last two years, the cumulative organic growth of the current operating margin amounted to 2.6 points, reaching the 2019/20 target (+2.4-3.0 points over 3 years), one year early.

Excluding non-recurring items, net profit (proforma) was €167.8 million, a record level for the Group. It was up 10.9% as reported and 16.3% on an organic basis.

* Organic growth is calculated assuming constant exchange rates and consolidation scope (proforma pre-IFRS 15, 16 & 9)