Remy Cointreau Sa · EURONEXT:RCO
Remy Cointreau Sa — Remy Cointreau Sa Ord — Q4 2024 Earnings Presentation
20 slides from Remy Cointreau Sa's earnings presentation, Apr 26, 2024
Slide 1: Remy Cointreau 2023-24 FY Sales
REMY COINTREAU 2023-24 FY Sales tee — ee Luca Marotta, CFO 26 April 2024
Slide 2: FY 23-24 organic sales growth and guidance confirmed
o Q4 Sales almost flat at -0.7% YoY (+14.3% vs Q4 19-20), reflecting some positive phasing effects in APAC and stabilization in EMEA post-Q3 destocking FY 23-24 ORGANIC* o Strong sequential deterioration in the US, following significant restocking in Q3, particularly in Liqueurs & Spirits SALES GROW
Slide 3: Q4 Highlights
Q4 Highlights Louis XIII boutiques: New openings, testing new business model o Heifei City: the future Chinese “Silicon Valley” o Hefei Yintai Mall: sole luxury Mall o Ground floor within Luxury Fashion & High-end Jewelry area Hefei Louis XI!| boutique = a o Suzhou City: Tier 1/2 city (Top 6 cities
Slide 4: Q4 Marketing highlights
Q4 Marketing highlights Bruichladdich reveals new Luxury Redefined range RECRUITING NEW CONSUMERS AND BUILDING DESIRABILITY AND DISTRIBUTION IN TOP END ON & OFF TRADE
Slide 5: A new gin experience shaped by cask, time and expertise
A NEW GIN EXPERIENCE SHAPED BY CASK, TIME AND EXPERTISE UNLOCKING NEW OPPORTUNITIES • Recruit new drinkers from other high-end categories • Catapult The Botanist into new occasions and new consumers • Reinforce distilling expertise: ageing credentials and provenance 5
Slide 6: 6
6
Slide 7: Q4 Marketing highlights
Q4 Marketing highlights Travel Retail: above pre-Covid level for First time in 2023-24 Travel Retail +HSD% vs. FY 19/20
Slide 8: FY 2023-24 - Group sales bridge
FY 2023-24 - Group sales bridge Reported: -22.9% -3.7% Price-Mix: -4.6% Volume: -14.6% €1,548.5m €1,194.1m FY 2022-23 Organic Currency FY 2023-24
Slide 9: FY 2023-24 - Organic
FY 2023-24 - Organic GROUP Sales CAGR: +3.8% €1,194.1m FY 19/20 FY 23/24 Volume: -24% (CAGR: -0.6%) Price-Mix: +18.6% (CAGR. +4.4%) (2) Organic sales growth at constant exchange rates (2022-23 rates) COGNAC Incl. major US destocking Sales CAGR: +14% FY 19/20 FY 23/24 Volume: -21.7% (CAGR: 5.9%) Pric
Slide 10: Q4 performance by region
Significant growth in Q4, boosted by: Significant decline in Q4, showing a sharp sequential Strong DD% growth in Q4 driven by Positive shipment phasing effects deterioration versus Q3 impacted by: Greece, Austria, Spain and Switzerland Positive calendar effects (+13.0 pts at APAC Level) Negative pha
Slide 11: China: significant growth in Q4
China: significant growth in Q4, boosted by positive phasing of shipments and timing of CNY o Underlying trends remain soft due to low consumer confidence and cash pressures in the trade. However, value depletions are quite resilient in this context: up DD% in Q4 YoY (i.e. more than 3x vs. 4Y) drive
Slide 12: North America
North America: o Very strong DD% decline in Q4 (o/w Canada: up very strong DD%), following significant restocking effects in Q3 and against high comps o Cointreau’s Q4 US value depletions were down Mid-to-HSD% YoY (i.e almost +65% vs. Q4 19-20) affected by tougher comps in Q4 which was cycling adver
Slide 13: 2023-24 outlook confirmed
2023-24 outlook confirmed PRIORITIES Maintain a strict pricing policy Focus on A&P that drive impact Optimize A&P, leveraging BTL and digital Implement cost-cutting plan (around €100 million) GUIDANCE Protect gross margin in a persistently inflationary environment Selectively reduce A&P, particularl
Slide 14: Appendices
Appendices
Slide 15: Quarterly sales by division
Quarterly sales by division In€m Q1 23/24 Q1 22/23 Reported % Organic % Cognac 155.1 2923 46.9% 447% Liqueurs & Spirits 95.0 109.7 13.5% 14% Subtotal: Group Brands 250.0 402.0 -37.8% “35.6% Partner Brands 75 79 54% 4.6% Total 257.5 409.9 -37.2% 733.0% In€m Q2 23/24 Q2 22/23 Reported % Organic % Cogn
Slide 16: Quarterly sales by division
Quarterly sales by division In€m Q3 23/24 Q3 22/23 Reported % Organic % Cognac 1971 314.0 ~372% “33.9%. Liqueurs & Spirits 146 144 +04% 443% Subtotal: Group Brands 311.8 428.1 -27.2% -23.7% Partner Brands 81 95 -14,0% “13.5% Total 319.9 437.6 -26.9% -23.5% In €m 9M 23/24 9M 22/23 Reported % Organic
Slide 17: Quarterly sales by division
Quarterly sales by division In€m H2 23/24 H2 22/23 Reported % Organic % Cognac 362.6 461.8 215% 18.1% Liqueurs & Spirits 1811 204.4 114% 95% Subtotal: Group Brands $43.7 666.3 -18.4% 15.5% Partner Brands 13.7 151 -91% 89% Total 557.4 6814 18.2% 15.3% In€m FY 23/24 FY 22/23 Reported % Organic % Cogna
Slide 18: Key currency impacts on FY 2023-24 sales
Key currency impacts on FY 2023-24 sales Total currency impact: -€57.2m 0S 0.1 0.1 -197 -30.3 PLN CHF GBP MYR AUD HKD Other JPY CAD USD CNY currencies
Slide 19: Next Financial publications
Next Financial publications June 6, 2024 2023-24 FY Results July 18,2024 Shareholders’ meeting July 24, 2024 2024-25 Q1 Sales
Slide 20: Q&A
REMY COINTREAU MOE Q&A
Remy Cointreau Sa Ord — Q4 2024 Earnings Presentation on 6ix