Remy Cointreau SA · EURONEXT:RCO

Remy Cointreau SA — 9M FY2015/16 Earnings Presentation

17 slides from Remy Cointreau SA's earnings presentation, Jan 21, 2016

  1. Slide 1: Fiscal Year 2015/16 9 months ended 31 December 2015

    Fiscal Year 2015/16 9 months ended 31 December 2015 21 January 2016

  2. Slide 2: Key Messages

    Key Messages  Return to growth in Q3  We are on track: 9M sales performance in-line with our expectations  Technical factors: a 4.0pp/EUR29.3m hit on 9M organic sales growth  Gradually improving consumer trends in 9M  Improving trends in the US and in the EMEA zone  Clear improvement in Greate

  3. Slide 3: 9M 2015/16 Sales Analysis

    9M 2015/16 Sales Analysis €m 9M 14/15 Organic Currency 9M 15/16 Reported growth: +7.9% 799.2 740.9 -2.6% +10.5% 3

  4. Slide 4: Currency Impact on 9M 2015/16 Sales

    Currency Impact on 9M 2015/16 Sales Positive currency impact : EUR77.4m Other currencies 10% CNY 13% HKD USD 15% 62% 4

  5. Slide 5: Quarterly Organic Sales Growth

    Quarterly Organic Sales Growth Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 +23.4%** +3.2% (1.0%)** (3.2%) (5.7%)** (5.5%)** (9.0%) FY 14/15: +0.6% 9M 15/16: (2.6%) (**) Calculated based on 2013/14 pro forma sales (i.e excluding the Edrington contract in the US) 5

  6. Slide 6: 9M 2015/16 Trends by Region (1)

    9M 2015/16 Trends by Region (1)  Asia-Pacific sales in decline over 9M, but close to stability in Q3  Technical factors weighed on 9M performance (mainly in H1)  Route-to-Market adjustments in Greater China  Streamlining of on-trade outlets in Greater China  Change in distributor in Australia 

  7. Slide 7: 9M 2015/16 Trends by Region (2)

    9M 2015/16 Trends by Region (2)  Americas sales flat in the 9M period: strong US depletions mitigated by technical factors  Technical factors weighed on the Americas sales performance  Exit from the VS cognac category in the US (H1)  High comparable base for Cointreau in the US (H1)  Change in

  8. Slide 8: 9M 2015/16 Trends by Region (3)

    9M 2015/16 Trends by Region (3)  Europe, Middle East & Africa showing further acceleration in the 9M period  Western Europe: flat sales in 9M  Negative technical factor in 9M: earlier Easter celebrations (Q1)  Double-digit sell-in and sell-out growth in Germany, led by Rémy Martin and Cointreau

  9. Slide 9: 9M Organic Growth by Product Division

    9M Organic Growth by Product Division Rémy Martin Liqueurs & Spirits Partner Brands Group 3,0% +0.2% 1,0% ‐1,0% ‐3,0% (2.6%) ‐5,0% (4.0%) ‐7,0% ‐9,0% ‐11,0% (10.5%) ‐13,0% ‐15,0% 9

  10. Slide 10: Rémy Martin (+0.2% organic growth in 9M)

    Rémy Martin (+0.2% organic growth in 9M)  Asia-Pacific  Double-digit sales decline in 9M (technical factors/ Greater China wholesalers’ prudence) ; But Q3 close to stability  Clear improvement in Greater China’s sell-through: depletions up in volumes, flat in value  Americas  Sales up low doubl

  11. Slide 11: Rémy Martin: Marketing Initiatives

    Rémy Martin: Marketing Initiatives  First PR and social results of the « One Life / Life Them » campaign  Press coverage : more than €14m worth of media value-equivalent (€10m in the US and €4m in China)  Social networks : more than 120 millions web users reached (40m in the US and 80m in China)

  12. Slide 12: Liqueurs & Spirits (-4.0% organic decline in 9M)

    Liqueurs & Spirits (-4.0% organic decline in 9M)  9M sales decline largely due to technical factors (H1) and Russia; Q3 back to growth  Technical factors: Cointreau comps in the US (H1), earlier Easter in Western Europe (Q1), and changes in distributors in Australia and Canada (mainly Q1)  Weak s

  13. Slide 13: Liqueurs & Spirits (-4.0% organic decline in 9M)

    Liqueurs & Spirits (-4.0% organic decline in 9M)  Metaxa: double-digit sales decline led by Russia, Greece and Travel Retail (Russian tourists); Positive growth in Q3, led by the successful launch of Metaxa Honey Shot (Central Europe)  Mount Gay  Sales growth led by mix gains in key markets (US,

  14. Slide 14: Liqueurs & Spirits: Marketing Initiatives

    Liqueurs & Spirits: Marketing Initiatives Metaxa AEN: Cointreau: Everness by Greek designer Dimitris Tsigos Great 30’s Limited Edition 14

  15. Slide 15: Partner Brands (-10.5% organic decline in 9M)

    Partner Brands (-10.5% organic decline in 9M)  Double-digit decline in sales mainly reflects the end of the distribution contract of Piper and Charles Heidsieck in the US (EUR11.0M loss)  Double-digit growth of the third-party spirits distributed in EMEA 15

  16. Slide 16: 2015/16 Outlook Confirmed

    2015/16 Outlook Confirmed ■ 9M 2015/16 organic sales performance in-line with Group’s expectations ■ Maintains guidance of delivering positive growth in current operating profit, at constant exchange rate and scope, for the financial year 2015/16 16

  17. Slide 17: Q&A

    ie REMY COINTREAU Q&A

Rémy Cointreau — 9M FY2015/16 Earnings Presentation on 6ix