Remy Cointreau Sa · EURONEXT:RCO
Remy Cointreau Sa — 9M 2014/15 Earnings Presentation
16 slides from Remy Cointreau Sa's earnings presentation, Jan 22, 2015
Slide 1: Fiscal Year 2014/15: 9 months ended 31 December 2014
Fiscal Year 2014/15 9 months ended 31 December 2014 22 January 2015
Slide 2: 9M 2014/15 Sales Analysis
9M 2014/15 Sales Analysis €m Edrington 9M 13/14 9M 13/14 contract pro forma (*) Organic (**) Currency 9M 14/15 (12.4%) 845.7 76.2 76.2 769.4 740.9 (4.1%) +0.4% (3.7%) (*) Pro forma for the end of the Edrington distribution contract in the US (with effect from 1 April 14) (**) Organic growth is calcu
Slide 3: Currency Impact on 9M Sales
Currency Impact on 9M Sales €m Positive currency impact (1): EUR2.8m USD Main gains Main losses 3.0 GBP 1.4 HKD 1.1 JPY -0.8 CAD -1.0 CZK -1.3 (1) Currency impact is calculated based on 2013/14 pro forma sales 3
Slide 4: Quarterly Organic Sales Growth
Quarterly Organic Sales Growth Q1 13/14 Q2 13/14 Q3 13/14 Q4 13/14 Q1 14/15 Q2 14/15 Q3 14/15 (1.0%)** (2.3%) (5.3%) (5.7%)** (5.5%)** H1 13/14: (3.6%) H1 14/15: (5.6%)** (16.1%) (18.9%) (**) Calculated based on 2013/14 pro forma sales H2 13/14: (17.8%) 4
Slide 5: Quarterly Organic Growth for RC Brands
Quarterly Organic Growth for RC Brands Q1 13/14 Q2 13/14 Q3 13/14 Q4 13/14 Q1 14/15 Q2 14/15 Q3 14/15 +0.3% (5.3%) (7.1%) (7.0%) (7.9%) H1 13/14: (5.7%) H1 14/15: (7.4%) (24.1%) (24.9%) H2 13/14: (24.4%) 5
Slide 6: 9M Organic Growth by Product Division
9M Organic Growth by Product Division Rémy Martin Liqueurs & Spirits Partner Brands Group 10,0% 5.8% 5,0% 0.8% (**) 0,0% -5,0% (4.1%)** -10,0% (9.3%) -15,0% (**) Calculated based on 2013/14 pro forma sales 6
Slide 7: 9M Trends by Region
9M Trends by Region Asia Pacific: Continued double-digit decline over 9M, but Q3 virtually stable Shipments to Greater China returned to growth in Q3, aided by low comparatives… …But value depletions still down, amid ongoing consumers’ wait-and-see attitude Positive trends in North East Asia, driven
Slide 8: 9M Trends by Region
9M Trends by Region Europe, Middle East & Africa: flat performance for the 9M Western Europe still in decline, but demonstrated good resilience in key markets: France and Germany flat year-to-date for RC brands Solid growth in Scandinavia, Belgium and Switzerland Gradual improvement in UK trends (ne
Slide 9: Rémy Martin (9.3% organic decline over 9M)
Rémy Martin (9.3% organic decline over 9M) Asia Pacific: Shipments back to growth in Greater China in Q3 But value depletions still in decline (no improvement versus H1 trends) Good performance in Japan Americas: 9M shipments still in decline (strategic exit from VS), but positive inflection in Q3 U
Slide 10: Rémy Martin: Marketing Initiatives
Rémy Martin: Marketing Initiatives Rémy Martin Cellar Master’s Selection La Maison Rémy Martin in the UK in GTR 10
Slide 11: Liqueurs & Spirits (5.8% organic growth in 9M)
Liqueurs & Spirits (5.8% organic growth in 9M) Solid 9M performance led by all key regions and core brands Cointreau: Mid single-digit growth led by strong performance in the Americas (partially helped by favourable shipment phasing in H1), Australia, Japan and Greater China Ongoing softness in West
Slide 12: Liqueurs & Spirits (5.8% organic growth in 9M)
Liqueurs & Spirits (5.8% organic growth in 9M) Mount Gay: Healthy growth over the 9M period, led by key markets (US, Barbados and Travel Retail) US volume depletions volatile as Mount Gay launched Black Barrel last year, and moved its focus away from the (lower-end) Eclipse range Volume depletion tr
Slide 13: Liqueurs & Spirits: Marketing Initiatives
Liqueurs & Spirits: Marketing Initiatives Cointreau: Best selling liqueur St-Rémy Small Batch Reserve in the top 50 Best Bars 13
Slide 14: Partner Brands (0.8% organic growth over 9M)
** Partner Brands (0.8% organic growth over 9M) End of the distribution contract with Edrington in the US as of 1 April 2014 (Those brands’ contribution to sales was €76.2m over 9M 2013/14 and €102.8m over 2013/14 full year) +0.8% organic sales growth in the 9M period (-6.3% in Q3) reflects: Strong
Slide 15: 2014/15 Outlook Unchanged
2014/15 Outlook Unchanged ■ 2014/15 targets of delivering positive organic growth (**) confirmed: ■ in sales (on a 2013/14 pro forma basis of €928.8m) ■ in current operating profit (on a 2013/14 pro forma basis of €136.6m ) (**) Organic growth is calculated based on 2013/14 pro forma figures and at
Slide 16: Rémy Cointreau Q&A
a REMY COINTREAU Q&A