Remy Cointreau Sa · EURONEXT:RCO
Remy Cointreau Sa — H1 2021-22 Earnings Presentation
19 slides from Remy Cointreau Sa's earnings presentation, Oct 22, 2021
Slide 1: 2021-22 H1 Sales
2021-22 H1 Sales L u ca Ma rotta, C FO in the name of mother nature October 22, 2021 In the name of mother nature
Slide 2: Key messages – Very strong performance, above expectations
Ke y m e s s a ge s – Ve r y st ro n g p e r fo r m a n c e , a b o ve ex p e c tat i o n s 2021-22 H1 o Another very strong quarter reflecting sustained underlying demand : +23.7% of organic growth in Q2 21/22 ORGANIC o Q2 21/22 sales well above pre-Covid level (+19.4% vs. Q2 19/20) in both Cognac
Slide 3: Q2 highlights - Embracing booming cocktail culture through our hero drinks
Q 2 h i g h l i g ht s - E m b ra c i n g b o o m i n g co c k ta i l c u l t u re t h ro u g h o u r h e ro d r i n ks H1 organic sales growth Sidecar 100th anniversary Margarita Sangria 1738: > +60% Cointreau: > +50% St-Rémy: > +30% 3
Slide 4: Q2 highlights - Leveraging strong on-trade momentum
Q 2 h i g h l i g ht s - L e ve ra g i n g st ro n g o n - t ra d e m o m e nt u m The Botanist x Jazz - Dubai Pop-up Bar Metaxa - Athens Cointreau summer terrace - London 4
Slide 5: Q2 highlights – Mid-Autumn Festival activations
Q 2 h i g h l i g ht s – M i d - A u t u m n Fe st i va l a c t i vat i o n s Super brand day Pop-up Store MIX-C World LG atrium New version of XO Luxury Dinner Livestreaming Shenzhen 5
Slide 6: Q2 highlights – Driving uniqueness & desirability
Q 2 h i g h l i g ht s – D r i v i n g u n i q u e n e s s & d e s i ra b i l i t y 200 N°XIII red decanters available worldwide Limited to one decanter per club per night One more step towards exception and rarity 6
Slide 7: Q2 highlights – Official relaunch of Champagne Telmont
Q 2 h i g h l i g ht s – O ff i c i a l re l a u n c h o f C h a m p a g n e Te l m o nt Revamped & streamlined High-end distribution 06.21.21 Telmont range in selected cities Miami Paris Tokyo – Kyoto Los Angeles London Shanghai New York Singapore In the name of mother nature 7
Slide 8: 2021/22 H1 Sales bridge
2 1 / 2 2 H 1 S a l e s b r i d ge Reported : +49.8% +52.0% +0.5% -2.7% Volume: +35.2% Price/Mix: +16.8% €645.3m €430.8m 8
Slide 9: 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 FY 2019/20 FY 2020/21 H1 2021/22 Group organic -11.2% (RC Brands: -6.3%) +1.8% (RC Brands: +1.9%) +52.0% (RC Brands: +52.9%) sales growth vs. 2Y Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 106.8% 105.0% +36.5% 23.7% 24.3% 25.1% 26.5% Q1 19/20 Q1 21/22 15.1% 15.0%
Slide 10: 2021/22 H1 organic sales growth by region
2 1 / 2 2 H 1 o rga n i c s a l e s g ro w t h b y re g i o n +60.2% +49.3% +52.0% +33.5% Americas APAC EMEA Group 10
Slide 11: 2021/22 H1 Organic sales growth by Region
2 1 / 2 2 H 1 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 55% of H1 Sales 28% of H1 Sales 17% of H1 Sales Sales growth: +60.2% Sales growth: +49.3% Sales growth: +33.5% US China Steadily high underlying trends Very strong double-digit sales growth Western Europe and the UK out
Slide 12: 2021/22 H1 organic sales growth by Division
2 1 / 2 2 H 1 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 55.2% 52.9% 52.0% 46.9% 23.6% Cognac Liqueurs & Spirits Group Brands Partner Brands Group 12
Slide 13: Cognac: organic sales growth in H1 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 + 5 5 . 2 % i n H 1 2 1 / 2 2 North America: very strong double-digit sales growth in H1 o Steadily high underlying demand boosted by strong on-trade rebound and off-trade resilience ; consistent up-trading trends AMERICAS o Completion of replenishm
Slide 14: Liqueurs & Spirits: organic sales growth of +46.9% in H1 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 + 4 6 . 9 % i n H 1 2 1 / 2 2 North America: double-digit sales growth o Cointreau: double-digit sales growth driven by high demand in on-trade and positive phasing effect in Q1; continued positive trends in depletions despite hig
Slide 15: 2021/22 outlook: Increased confidence in FY guidance
2021-22 outlook I n c re a s e d co n f i d e n c e i n F Y g u i d a n c e o Confidence in continued outperformance of the exceptional spirits market o 2021/22 is expected to be a year of two halves both in sales and COP : • Strong sales growth expected for the year, mainly driven by H1 performance
Slide 16: Appendices
Appendices Appendices
Slide 17: Quarterly Sales by division
Q u a r te r l y S a l e s b y d i v i s i o n 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 55.6% 55.3
Slide 18: Key currency impacts on H1 sales
Ke y c u r re n c y i m p a c t s o n 2 1 / 2 2 H 1 S a l e s 21/22 H1 total currency impact: -€11.7m (In €m) CNY Main gains Main losses 4.6 Other GBP CAD AUD NZD JPY RUB USD currencies 1.0 0.5 0.4 0.1 -0.3 -0.4 -17.3 -0.3 18
Slide 19: Q&A
Q&A