Remy Cointreau SA · EURONEXT:RCO
Remy Cointreau SA — FY2015/16 Earnings Presentation
18 slides from Remy Cointreau SA's earnings presentation, Apr 19, 2016
Slide 1: Fiscal Year 2015/16 – 12 months ended 31 March 2016
Fiscal Year 2015/16 12 months ended 31 March 2016 19 April 2016
Slide 2: Key Messages
Key Messages Solid Q4 performance (+9.8% organic sales growth)… …Drives positive organic sales growth in FY2015-16 (+0.3%) Technical factors: a 3.2pp/EUR31.3m hit on 12M organic sales growth Gradually improving consumer trends in the past 12M Ongoing strength in the US Improving trends i
Slide 3: FY2015/16 Sales Analysis
FY2015/16 Sales Analysis €m FY14/15 Organic Currency FY15/16 Reported growth: +8.9% 1,050.7 965.1 +0.3% +8.6% 3
Slide 4: Currency Impact on FY2015/16 Sales
Currency Impact on FY2015/16 Sales Positive currency impact : EUR82.7m Other currencies 8% CNY 13% HKD 16% USD 63% 4
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 Q4 15/16 H2: +8.3%** +23.4%** H2: +6.2% H1: (5.6%)** H1: (5.9%) +9.8% +3.2% (1.0%)** (3.2%) (5.7%)** (5.5%)** (9.0%) FY 14/15: +0.6% FY 15/16: +0.3% (**) Calculated based on 2013/14 pro forma sales (i.e exc
Slide 6: FY15/16 Organic Growth by Region
FY15/16 Organic Growth by Region Americas EMEA Asia-Pacific Group 10,0% +7.9% 8,0% 6,0% 4,0% 2,0% +1.0% +0.3% 0,0% -2,0% -4,0% -6,0% -8,0% -10,0% (9.0%) 6
Slide 7: FY2015/16 Organic Trends by Region (1)
FY2015/16 Organic Trends by Region (1) Asia-Pacific sales down 9.0% in FY15/16, despite improved momentum in H2 Technical factors weighed on 12M performance (mainly in H1) Route-to-Market adjustments in Greater China Streamlining of on-trade outlets in Greater China Change in distributor i
Slide 8: FY2015/16 Organic Trends by Region (2)
FY2015/16 Organic Trends by Region (2) Americas sales up 1.0% in FY15/16: strong US depletions mitigated by technical factors Technical factors muted Americas’ sales performance Exit from the VS cognac category in the US (H1) High comparable base for Cointreau in the US (H1) Change in dist
Slide 9: FY2015/16 Organic Trends by Region (3)
FY2015/16 Organic Trends by Region (3) Europe, Middle East & Africa sales up 7.9% in the FY15/16 Western Europe: slightly positive growth Small negative technical factor: earlier Easter celebrations (Q1) Solid sell-in trends in Germany, the UK, Netherlands and Spain Improving depletion tre
Slide 10: FY2015/16 Organic Growth by Product Division
FY2015/16 Organic Growth by Product Division Rémy Martin Liqueurs & Spirits Partner Brands Group 4,0% +3.2% 2,0% +0.3% 0,0% -2,0% (1.5%) -4,0% -6,0% -8,0% (8.1%) -10,0% 10
Slide 11: Rémy Martin (+3.2% organic growth in FY)
Rémy Martin (+3.2% organic growth in FY) Asia-Pacific High single-digit sales decline in FY (technical factors/ Greater China wholesalers’ prudence) ; back to growth in Q4 Improvement in Greater China’s sell-through: depletions up in mid-single digits in volume, flat in value Americas Sale
Slide 12: Rémy Martin: Marketing Initiatives
Rémy Martin: Marketing Initiatives Louis XIII: First media, PR and social results of the « 100 Years » campaign Advertising equivalent : EUR12.5m Number of press and digital clippings : 1,200 Audience scope : 1.3 billion people London February 2016 NYC DIGITALDecember 2015 Los Angeles Global
Slide 13: Liqueurs & Spirits (-1.5% organic decline in FY)
Liqueurs & Spirits (-1.5% organic decline in FY) FY15/16 sales decline entirely due to technical factors in H1; H2 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 sell-
Slide 14: Liqueurs & Spirits (-1.5% organic decline in FY)
Liqueurs & Spirits (-1.5% organic decline in FY) Metaxa: FY sales decline led by Russia, Greece and Travel Retail (Russian tourists); Back to growth in H2, led by the successful launch of Metaxa Honey Shot (Central Europe) Mount Gay Solid sales growth led by double-digit growth in the Barbados
Slide 15: Liqueurs & Spirits: Marketing Initiatives
Liqueurs & Spirits: Marketing Initiatives Metaxa Angels’ Treasure Octomore Virgin Oak 15
Slide 16: Partner Brands (-8.1% organic decline in FY)
Partner Brands (-8.1% organic decline in FY) Double-digit decline in sales mainly reflects the end of the distribution contract of Piper and Charles Heidsieck in the US (EUR13.0M loss) Double-digit growth of the third-party spirits distributed in EMEA 16
Slide 17: 2015/16 Outlook Confirmed
2015/16 Outlook Confirmed ■ FY2015/16 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 17
Slide 18: Rémy Cointreau – Q&A
REMY COINTREAU O&A