Remy Cointreau SA · EURONEXT:RCO
Remy Cointreau SA — 9M 2021-22 Earnings Presentation
18 slides from Remy Cointreau SA's earnings presentation, Jan 25, 2022
Slide 1: 2021-22 9M Sales
2021-22 9M Sales L u ca Ma ro tta, C FO January 25, 2022
Slide 2: Key messages – Continued strong momentum, above expectations
Ke y m e s s a g e s – C o n t i n u e d st ro n g m o m e n t u m , a b o v e ex p e c ta t i o n s 9M ORGANIC* o Another very strong quarter reflecting sustained underlying demand: +21.0% organic growth* in Q3 21/22 SALES GROWTH o Positive calendar effects linked to CNY: c.+2.0 pts of extra growth
Slide 3: Key highlights: Speeding up investments on our global priority brands
Ke y h i g h l i g ht s S p e e d i n g u p i nve st m e nt s o n o u r g l o b a l p r i o r i t y b ra n d s 3
Slide 4: Key highlights: Speeding up investments on our global priority brands
Ke y h i g h l i g ht s S p e e d i n g u p i nve st m e nt s o n o u r g l o b a l p r i o r i t y b ra n d s * > 4 (*) Q3 21-22 Cointreau organic sales growth
Slide 5: Key highlights: Speeding up investments on our global priority brands
Ke y h i g h l i g ht s S p e e d i n g u p i nve st m e nt s o n o u r g l o b a l p r i o r i t y b ra n d s 5
Slide 6: Key highlights: Innovating with new limited editions
Ke y h i g h l i g ht s I n n o vat i n g w i t h n e w l i m i te d e d i t i o n s 6
Slide 7: 9M 21/22 sales bridge
9 M 2 1 / 2 2 s a l e s b r i d ge Reported : +39.1% +38.1% +0.3% +0.7% Volume: +25.4% Price/Mix: +12.7% €1085.8m €780.9m 7
Slide 8: Quarterly organic sales growth
Q u a r te r l y o rga n i c s a l e s g ro w t h 2019/20 FY 2020/21 FY 2021/22 9M Group organic -11.2% (RC Brands: -6.3%) +1.8% (RC Brands: +1.9%) +38.1% (RC Brands: +38.6%) sales growth vs. 2Y Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 106.8% 105.0% +35.7% +33.6% 9M 19/20 9M 21/22 25.1% 26.5% 23.7% 24.3% 21
Slide 9: 9M 21/22 organic sales growth by Region
9 M 2 1 / 2 2 o rga n i c s a l e s g ro w t h b y Re g i o n AMERICAS APAC EMEA 51% of 9M Sales 31% of 9M Sales 18% of 9M Sales Sales growth: very strong DD% in 9M Sales growth: excellent growth in 9M Sales growth: very strong DD% in 9M US China Western and Eastern Europe DD sales growth in Q3 led
Slide 10: 9M 21/22 organic sales growth by Division
9 M 2 1 / 2 2 o rga n i c s a l e s g ro w t h b y D i v i s i o n 38.5% 39.1% 38.6% 38.1% 20.1% Cognac Liqueurs & Spirits Group Brands Partner Brands Group 10
Slide 11: Cognac: organic sales growth in 9M 21/22
C o g n a c : o rga n i c s a l e s g ro w t h o f + 3 8 . 5 % i n 9 M 2 1 / 2 2 North America: very strong double-digit sales growth in 9M (o/w low DD% in Q3) despite high comps. and strikes in Canada o Strong growth in the US in Q3 reflecting: 1/ high level of demand ; 2/ solid momentum in on-trad
Slide 12: Liqueurs & Spirits: organic sales growth of +39.1% in 9M 21/22
L i q u e u rs & S p i r i t s : o rga n i c s a l e s g ro w t h o f + 3 9 . 1 % i n 9 M 2 1 / 2 2 North America: very strong double-digit sales growth in 9M, including strong double-digit growth in Q3 on top of high comps. o The US recorded very strong DD sales growth led by Cointreau, the Whisky
Slide 13: Full-year guidance confirmed
Full-year guidance confirmed Confident in outperforming the exceptional spirit market, 2021-22 is expected to be a year of two halves both in terms of sales and COP organic growth Sales: strong organic FY growth, with H1 strongly above H2 growth A&P: meaningful increase in marketing spend, particula
Slide 14: Appendices
Appendices Appendices
Slide 15: Quarterly Sales by division (1/2)
Q u a r te r l y S a l e s b y d i v i s i o n ( 1 / 2 ) Organic % Organic % In €m Q1 21/22 Q1 20/21 Reported % vs. Q1 20/21 vs. Q1 19/20 Cognac 199.6 98.7 102.3% 114.4% 29.8% Liqueurs & Spirits 85.3 46.1 84.9% 90.5% 58.0% Subtotal: Group Brands 284.9 144.8 96.8% 106.8% 37.0% Partner Brands 8.2 5.3
Slide 16: Quarterly Sales by division (2/2)
Q u a r te r l y S a l e s b y d i v i s i o n ( 2 / 2 ) Organic % Organic % In €m Q3 21/22 Q3 20/21 Reported % vs. Q3 20/21 vs. Q3 19/20 Cognac 332.7 267.0 24.6% 19.4% 59.7% Liqueurs & Spirits 98.7 75.1 31.4% 27.3% 37.7% Subtotal: Group Brands 431.4 342.1 26.1% 21.1% 54.1% Partner Brands 9.1 7.9 15
Slide 17: Key currency impacts on sales
Ke y c u r re n c y i m p a c t s o n 9 M 2 1 / 2 2 S a l e s 9M 21/22 total currency impact: +€5.3m (In €m) Main gains Main losses CNY 12.5 GBP Other CAD AUD HKD 2.0 currencies JPY USD 1.1 0.6 -0.1 0.1 -0.6 -10.2 17
Slide 18: Q&A
Q&A