Remy Cointreau SA · EURONEXT:RCO
Remy Cointreau SA — FY2014/15 Earnings Presentation
16 slides from Remy Cointreau SA's earnings presentation, Apr 15, 2015
Slide 1: Fiscal Year 2014/15, 12 months ended 31 March 2015
Fiscal Year 2014/15 12 months ended 31 March 2015 15 April 2015
Slide 2: 2014/15 Sales Analysis
2014/15 Sales Analysis €m Edrington FY 13/14 FY 13/14 contract pro forma (*) Organic (**) Currency FY 14/15 (6.4%) 1,031.6 +3.3% 965.1 102.8 928.8 +0.6% +3.9% (*) Pro forma for the end of the Edrington distribution contract in the US (with effect from 1 April 14) (**) Organic growth is calculated ba
Slide 3: Currency Impact on 2014/15 Sales
Currency Impact on 2014/15 Sales €m Positive currency impact (1): EUR30.3m USD Main gains Main losses 19.1 HKD 5.7 CNY 3.9 CAD JPY CZK -0.5 -0.6 -1.2 (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 Q4 14/15 H2 14/15: +8.3%** +23.4% (1.0%)** (2.3%) (5.3%) (5.7%)** (5.5%)** H1 13/14: (3.6%) H1 14/15: (5.6%)** (16.1%) (18.9%) H2 13/14: (17.8%) (**) Calculated based on 2013/14 pro forma sales 4
Slide 5: Q4 Sales: organic 2-year trend analysis
Q4 Sales: organic 2-year trend analysis -5% -28% +18% +5% EMEA Americas (2) Asia Pacific Group Q4 12-13 Q4 13-14 Q4 14-15 (2) Pro-forma for the end of the distribution contract with Edrington in 2012/13 and in 2013/14 5
Slide 6: 2014/15 Organic Growth by Product Division
2014/15 Organic Growth by Product Division Rémy Martin Liqueurs & Spirits Partner Brands Group 9,0% 7.2% 7,0% 5,0% 3,0% 0.6%** 1,0% -1,0% (0.6%) ** (1.9%) -3,0% -5,0% (**) Calculated based on 2013/14 pro forma sales 6
Slide 7: 2014/15 Trends by Region
2014/15 Trends by Region Asia Pacific: Mid-single digit decline in FY; CNY shows positive trend inflection Sales in Greater China down high-single digits in the full-year Further destocking in H1 Strong growth in H2 (driven by low comparatives) Chinese New Year saw a positive inflection in volume de
Slide 8: 2014/15 Trends by Region
2014/15 Trends by Region Europe, Middle East & Africa: low-single digit growth in FY Western Europe: slow start in H1, but better trends in H2 France and Germany flat for RC brands New UK platform ends the year up low-single digits for RC brands, after a slow start Good growth in Belgium and Switzer
Slide 9: Rémy Martin (1.9% organic decline in 14/15)
Rémy Martin (1.9% organic decline in 14/15) Asia Pacific: Shipments back to growth in Greater China in H2 Chinese New Year depletions: positive inflection in volumes, value still in decline Strong performance in Japan and Travel Retail Americas: Good performance in FY14-15, led by a double-digit reb
Slide 10: Rémy Martin: Marketing Initiatives
Rémy Martin: Marketing Initiatives 10
Slide 11: Liqueurs & Spirits (7.2% organic growth in 14/15)
Liqueurs & Spirits (7.2% organic growth in 14/15) Strong growth led by the successful strategy of product upgrading and internationalisation Cointreau: High single-digit growth led by an excellent performance in the US (partially helped by some technical factors), Japan, Greater China and Africa. On
Slide 12: Liqueurs & Spirits (7.2% organic growth in 14/15)
Liqueurs & Spirits (7.2% organic growth in 14/15) Mount Gay: Successful repositioning of the brand on its high-end qualities (Black Barrel and XO) drives healthy growth in FY14-15 in its key markets (US, Barbados, UK and Travel Retail) Solid US volume depletions: good execution of the shift from (lo
Slide 13: Liqueurs & Spirits: Marketing Initiatives
Liqueurs & Spirits: Marketing Initiatives La Maison Cointreau names Laetitia Casta As Creative Director
Slide 14: Partner Brands (-0.6% organic decline in 14/15)
** Partner Brands (-0.6% organic decline in 14/15) End of the distribution contract with Edrington in the US as of 1 April 2014 (those brands’ contribution to sales was €102.8m over 2013/14) -0.6% organic sales decline in the 12M period reflects: Strong growth of third-party spirit brands distribute
Slide 15: 2014/15 Outlook Confirmed
2014/15 Outlook Confirmed ■ 2014/15 organic sales growth in-line with expectations and guidance (set in June 2014) ■ Confident in delivering positive organic growth in current operating profit (**): ■ On a 2013/14 pro forma basis of €136.6m (**) Organic growth is calculated based on 2013/14 pro form
Slide 16: Q&A
a REMY COINTREAU Q&A