FINANCIAL AND NON-FINANCIAL TARGETS

With the arrival of Éric Vallat as Chief Executive Officer of Rémy Cointreau, the Group launched its management reorganisation and set itself ambitious new financial and non-financial targets.

OUTLOOK FOR THE 2020/2021 FINANCIAL YEAR

Despite the uncertain health, economic, and geopolitical situation, the Rémy Cointreau Group remains confident that it will come through the current crisis even stronger.

Thanks to more favourable trends in the consumption of spirits in the United States at the beginning of the financial year, the Group has adjusted its outlook slightly upward for the first quarter of 2020/2021: it now expects net sales to fall by about 45% organically (compared to an organic decline of 50% to 55% initially). With the second quarter moving toward a limited decline, the Group anticipates an organic decline of 45% to 50% in current operating profit for the first half of 2020/2021.

Nonetheless, the second half of 2020/2021 should benefit from a strong recovery driven by China and the United States.

NEW MEDIUM-TERM OUTLOOK

In the medium term, Rémy Cointreau is reasserting its ambition to become the world leader in exceptional spirits, for which the growth outlook is still attractive, particularly in a world of more responsible consumption.

To achieve this, Rémy Cointreau will pursue its value strategy and its construction of a corporate model in which growth is both profitable and responsible.