Remy Cointreau SA · EURONEXT:RCO
Remy Cointreau SA — FY2021/22 Earnings Presentation
20 slides from Remy Cointreau SA's earnings presentation, Apr 29, 2022
Slide 1: Luca Marotta, CFO
Luca Marotta, CFO 1 April 29, 2022
Slide 2: FY organic sales growth +29.4% vs. 2Y
FY ORGANIC* o Outstanding annual performance driven by significant mix price (+9.2%) and exceptional volume growth (+18.2%) SALES GROWTH o As expected, Q4 sales down -9.4%* (i.e. up +4.2% vs. 2Y), impacted by strategic inventory management and unfavorable +27.3% calendar effects linked to CNY (c.-3.
Slide 3: Q4 21/22 - Strong investments behind our Global priority brands
Q4 21/22 - Strong investments behind our Global priority brands New XO campaign for new generation of hedonists in China MEDIA Results: > 1.3m of impression * Outdoor media in 19 cities PR Results: c. 225m of impression EXCELLENCE TA’ TNC SOCIAL MEDIA Results: c. 440m of impression VISIBILITY Result
Slide 4: Louis XIII unveils its new campaign 'Believe in Time'
Louis XII| unveils its new campaign ‘Believe in Time’ t+ t+ LOUIS XIII LOUIS XIII BELIEVE IN TIME BELIEVE IN TIME
Slide 5: Cointreau embraces mixology rise during game day
Cointreau embraces mixology rise during game day Social Media Drive Awareness & Engagement POINTREAU Presented By Ba = COINTREAL Media activation with the #1 most highly-engaged sports property: bleacher report Drew Brees Retired new Orleans saints Quarterback
Slide 6: Pop-up stores, House of Sustainability, Know what's in your whisky
POP-UP STORES HOUSE OF SUSTAINABILITY KNOW WHAT’S IN YOUR WHISKY BLACK ART 9.1 6
Slide 7: Q4 21/22 - The Botanist first TV campaign (Super Bowl)
Q4 21/22 - Strong investments behind our Global priority brands The Botanist takes another step: First TV campaign (Super Bowl) Successful Campaign views on YouTube THE BOTA' NIST Super Bowl ad for eAaurants.com social impact #SaveRestaufants “Most inspirational” Super Bowl ad c.30% of sales growth
Slide 8: Group FY 21/22 - Sales bridge
Group FY 21/22 - Sales bridge +273% +0.2% +24% Volume: +18.2% Price/Mix:+9.2% €1312.9m €1010.2m FY 2020-21 Organic Scope Currency FY 2021-22
Slide 9: FY +29.4% Q4 +4.2% group organic sales growth vs. 2Y
2019/20 2020/21 2021/22 Group organic -11.2% (RC Brands: -6.3%) +1.8% (RC Brands: +1.9%) +27.3% (RC Brands: +27.7%) sales growth vs. 2Y 106.8% 105.0% FY +29.4% 25.1% 26.5% 23.7% 24.3% 21.0% 21.1% +27.7% 15.1% 15.0% 3.3% 2.5% Q4 +4.2% -3.0% -4.0% -4.0% -4.7% -7.2% -9.4% -9.6% -11.3% -22.3% -25.4% -33
Slide 10: FY 21/22 - Organic sales growth by region
FY 21/22 - Organic sales growth by region 30.0% 25.8% - 7 : Americas APAC EMEA 273% Group 10
Slide 11: Q4 regional sales trends: Americas, APAC, EMEA
Sales down LSD in Q4 strongly impacted by strategic Sales down DD% in Q4 impacted by very high comps Up DD% in Q4 led by France, Greece and Italy inventory management (especially on VSOP) (Triple-digit% LY), CNY calendar effects (-€6.0m) and (particularly Cointreau, Louis XIII and Mount Gay) strateg
Slide 12: FY 21/22 - Organic sales growth by Division
FY 21/22 - Organic sales growth by Division 31.7% 3 9 | 26.3% 277% | ' 15.2% Cognac Liqueurs & Spirits | - Group Brands : Partner Brands 273% 12
Slide 13: North America: Rémy Martin depletion trends
North America: very strong DD sales growth in 21/22 ; Q4 down LSD%, impacted by strategic inventory management (mainly focused on VSOP) o Excluding VSOP, rest of portfolio (Louis XIII, XO and 1738) continued to perform very well, enjoying buoyant demand o Sell-out remained very dynamic in on-trade w
Slide 14: North America: Liqueurs & Spirits and Cointreau depletions
North America: very strong double-digit sales growth in 21/22, including HSD% in Q4, led by the Whisky portfolio, Cointreau and The Botanist. o This performance reflects good dynamics in on-trade channel while off-trade continued to perform strongly vs. 2Y (DD%) o Cointreau’s value depletions were u
Slide 15: Outlook for 2022/23
o Full-year 2021-22 sales in line with expectations o Very strong organic COP growth, only driven by H1 outstanding growth: • Meaningful increase in marketing spend in H2 • Strategic inventory management in Q4 • High base of comparison in H2 o COP margin: organic improvement The group anticipates a
Slide 16: Appendices
NATURALLY ENCHANTING BELLE DE BRILLET scarier ae Appendices
Slide 17: Sales by quarter and division (€m)
In €m 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 +55.6% +55.3% +21.8% Total 293.1 150.1 +95.3% +105.0% +36.5% In €m Cognac 265.0 206.8 +28.2% +26.9% +24.7% Liqueurs & Spiri
Slide 18: Sales by division (€m)
In €m 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 +15.7% +14.3% -4.8% Total 440.5 350.0 +25.9% +21.0% +52.1% In €m Cognac 151.0 162.5 -7.1% -16.7% -1.3% Liqueurs & Spirits 70.
Slide 19: Key currency impacts on FY 21/22 sales
Key currency impacts on FY 21/22 Sales FY 21/22 total currency impact: +€24.5m ‘In €r (in ém) CNY 175 Main gains Main losses Other currencies es JPY PLN CHF es es Sl o oo USD GBP CAD 2.6 2.3 1.5 CNY USD GBP CAD Other JPY PLN CHF currencies 19
Slide 20: Q&A
Q&A