Rémy Cointreau: nine-month sales down nearly 18

(CercleFinance.com) - Rémy Cointreau posted sales of 787.
8 million euros for the first nine months of its 2024-25 fiscal year, down 17.8% organically (-17.7% on a reported basis), including a 21.5% organic decline in the third quarter.

The Cognac and other spirits house saw the Americas region post a sharp decline in sales for its third accounting quarter, affected by destocking effects and a high basis of comparison.

Sales in the APAC region were down sharply, reflecting more difficult market conditions in China, while the EMEA region recorded a slight decline, showing a strong sequential improvement on the second quarter.

In view of the nine-month trend, the Group forecasts an organic decline in sales at the lower end of its range for FY 2024-25 (i.e. close to -18% in organic terms), while confirming that it is targeting an ROC margin of between 21 and 22% in organic terms.

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