2021/2022 will be remembered as an historic year for the Group: all of its key financial and non-financial indicators have risen to unprecedented highs.
Rémy Cointreau put in an excellent performance in 2021/2022. In another pandemic year, we have the work and dedication of our teams, their passion and outstanding expertise to thank for delivering these new record-breaking results.
As in previous crises, Rémy Cointreau showed that it has the tenacity to stay the course and stick to its targets: its sights are set firmly on the long term to address short-term uncertainties. We are reaping the fruits of this strategy.
2021/2022 will be remembered as an historic year for the Group: all of its key financial and non-financial indicators have risen to unprecedented highs.
With organic sales growth up 27.3%, we have comfortably outperformed the exceptional spirits segment and gained market share across all regions and for the bulk of our brands.
Yes, these results are spectacular. But we have also continued to plan for the future. True to our long-term commitments, the Group is investing in its strategic assets: its eaux-de-vie, production facilities and brands. The increased spend on marketing and communications is a major development, an investment that has consolidated the foundations of our two growth pillars: Cognac and Liqueurs & Spirits.
We can also be proud of how far we have come on our sustainability journey, reflecting our ambition of achieving sustainable growth and sharing the value created with all the Group’s stakeholders, in line with our commitments to the Global Compact. First of all, with our people, who share in these outstanding results through our employee share purchase plan. Next, with all shareholders through the share buyback programme launched in June 2021, an attractive dividend policy and, of course, the robust Rémy Cointreau stock performance.
I would like to thank our shareholders for their trust and confidence in Rémy Cointreau, in some cases over many years.
As I come to the end of my term of office as Chairman of the Board of Directors in July, I’m confidently looking forward to passing on the baton to the next generation - a confidence shared by my sister Dominique and my brother François. The Group has long prepared for this changing of the guard, and the new generation is primed and ready to take over at the helm. Their attachment to the earth is deep and sincere, their passion for our craft is palpable and backed by sound professional training.
Over the past five years, Rémy Cointreau has made considerable progress with its transformation plan, shedding its old skin to be ready to face the challenges ahead. Now more than ever, our Group is geared up and ideally positioned to continue its forward march.
Revamped portfolio - The Group has beefed up and diversified its brand portfolio. The acquisition of three distilleries (Bruichladdich in 2012, Westland in 2016 and Domaine des Hautes Glaces in 2017) gives us a true Whisky Division and positions Rémy Cointreau to draw maximum benefit from the booming interest in the golden elixir.
Transition to more sustainable practices - Rémy Cointreau’s roots run deep. Its terroirs are exceptional and it has lost no time in protecting them for future generations. Its "Sustainable Exception" plan will greatly accelerate and strengthen its roadmap. A bold €80 million investment plan over the next 10 years will see major advances in all three pillars: Terroir, People and Time.
Digital transition - E-commerce is a resounding success. With online sales now accounting for almost 10% of revenue, the Group has doubled its penetration compared to 2019/2020. And the platform developed by the Group allows its brands to set up new e-commerce sites quickly and efficiently. The Group has also formed a team to build up its databases, expand its analysis capability and strengthen customer relations.
Strengthened team - Last and most importantly, the new generation at the helm will have a team of around 2,000 dedicated and driven men and women around the world and an strengthened executive committee all pulling together with them. The aim? To be more efficient and agile in a world of fast-changing consumer trends.
With our strategic plan ahead of schedule and an efficient business model, our 2030 targets are confirmed as we look with confidence to the future. It only remains for me to wish the new generation the very best: may the wind be always at your back!
