Remy Cointreau Sa · EURONEXT:RCO
Remy Cointreau Sa — 9M 2022-23 Earnings Presentation
17 slides from Remy Cointreau Sa's earnings presentation, Jan 27, 2023
Slide 1: 2022-23 9M Sales
2 02 2-2 3 9 M S al es Luca Marotta, CFO January 27, 2023
Slide 2: 9M Organic Sales Growth
9M ORGANIC* o Very good performance over the first 9M (+10.1%) on top of a high base of comparison (+38.1% over 9M 2021-22) SALES GROWTH o Sales down -6.0% in Q3, as expected, reflecting high base of comparison and normalization of consumption in the US (+42.9% vs. Q3 19-20) Strong sell-in in China
Slide 3: Q3 2022-23 marketing highlights
Q3 2022-23 marketing highlights The Drop Louis XIII launch around the globe - “Make it yours” campaign MBKE IT YOURS New York launch at the Webster se | FF | Shanghai launch with William Chan: Ss 80% of The Drop sales are to new customers 4 media awards in China: ‘Most liked pioneering Cognac brand”
Slide 4: Q3 2022-23 marketing highlights
Q3 2022-23 marketing highlights New Louis XIII boutiques in China Louls xi New Louis XII1 boutique - Chengdu New concept store for Louis XIII - SKP Beijing
Slide 5: Increased intensity & strength
Increased intensity & strength Bold, rich, deep 5
Slide 6: We also make whisky - Roll-out of Bruichladdich's new campaign
WE ALSO MAKE WHISKY - Roll-out of Bruichladdich’s new campaign = - BRUICHLADDICH @ THE ® classic LADDIE AWARDS: DOUBLE GOLD ACROSS RANGE
Slide 7: 9M 2022/23 - Group sales bridge
9M 2022/23 - Group sales bridge Price-Mix:+10.7% Volume: -0.6% €1,304.7m €1,085.8m 9M 2021-22 Organic Currency 9M 2022-23
Slide 8: 9M 2022/23 - Organic sales up +50.3% vs. 9M 2019-20
9M 2022/23 - Organic sales up +50.3%* vs. 9M 2019-20 GROUP €1304.7m €814.0m 9M 19/20 9M 22/23 Volume: +19.9% (:¢, CAGR: +6.2%) Price-Mix: +30.4% (ie, CAGR: +9.3%) (2) Organic sales growth at constant exchange rates (2021-22 rates) COGNAC €952.1m €588.9m 9M 19/20 9M 22/23 Volume: +216% (ie. CAGR: +6.
Slide 9: Cognac sales by region
Very strong double-digit decline in Q3, as expected Mid-teens sales growth in Q3 supported Mid-single digit decline in Q3 High comps and normalization of consumption by strong sell-in before CNY In line with expectations (++above pre-covid level) Phasing effects (strong sell-in in Q2) and high comps
Slide 10: Cognac: North America
North America: o 9M 22-23: sales up LSD YoY (approx. +85% vs. 9M 19-20) o Q3: sales down very strong double-digit YoY, impacted by high comps and normalization of consumption (vs. Q3 19-20: +40% and >+100% excl. VSOP); continued up-trading trends and strong outperformance of Louis XIII and XO o Q3 U
Slide 11: Liqueurs & Spirits: North America
North America: o Sales up in mid-teens YoY over 9M and in Q3 (approx. +80% vs. 9M 19-20 o/w +90% vs. Q3 19-20), driven by Cointreau and the Whisky portfolio: continued rise in mixology, good momentum in Tequila and robust demand for Classic Laddie o Cointreau’s Q3 US value depletions were up in mid-
Slide 12: FY 2022-23 Outlook
FY 2022-23 Outlook Rémy Cointreau outlook for FY 22/23: o Strong organic sales growth, incl. normalization of consumption trends in H2 o Increase in A&P investments, notably in H2 o Organic COP margin improvement (mostly in H1) including o Solid resilience of Gross Margin o Good control of OPEX o An
Slide 13: Appendices
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Slide 14: Quarterly sales by division
Quarterly sales by division In €m Q1 22/23 Qt 21/22 Reported % Organic % Cognac 292.3 199.6 +46 4%. +31,5% Liqueurs & Spirits 1097 853 +28.7% 419.4% Subtotal: Group Brands 402.0 284.9 +411% +27 9%, Partner Brands 79 8.2 -3.1% 38% Total 409.9 2931 439.9% +27. 0% In &m Q2 22/23 Q2 21/22 Reported % Org
Slide 15: Quarterly sales by division
Quarterly sales by division In &m Q3 22/23 Q3 21/22 Reported % Organic % Cognac 314.0 3327 56% “11.0% Liqueurs & Spirits 1144 987 +15:7% +10.1% Subtotal: Group Brands 428.1 4314 -08% 62% Partner Brands 95 1 43.6% 43.9% Total 4376 4405 07% 6.0% In€m 9M 22/23 9M 21/22 Reported % Organic % Cognac 952.1
Slide 16: Key currency impacts on 9M 22/23 sales
Key currency impacts on 9M 22/23 sales 9M 22/23 total currency impact: +€109.2m (In €m) Main gains Main losses 81.3 22.6 UsD CNY CAD HKD AUD Other GBP PLN JPY currencies 16
Slide 17: Q&A
Q&A