Rémy Cointreau emerges stronger from Covid-19
Profitability close to all-time highs
Launch of a share buyback programme
Increased confidence in 2030 guidance
In the year to end-March 2021, Rémy Cointreau posted sales of €1,010.2 million, up 1.8% on an organic basis (at constant scope and exchange rates) and down 1.4% on a reported basis. This performance demonstrates the Group’s resilience amid the Covid-19 pandemic.
Current Operating Profit came in at €236.1 million, up 9.7% on a reported basis and 12.8% on an organic basis. This resulted in a current operating margin of 23.4% (up 2.4 percentage points), close to its all-time highs. This performance was driven by strong growth in the gross margin (up 0.8 percentage point on an organic basis) and excellent control of overheads (down 2.4 percentage points on an organic basis). The Group was thus able to increase its communication investment (up 0.9 percentage point) to support its brands through the recovery. The margin also includes slightly favourable currency effects (adding 0.3 percentage point) and a scope effect of -0.2 percentage point.
Excluding non-recurring items, net profit attributable to the Group came in at €148.2 million, up 19.4% on a reported basis.
