Remy Cointreau Sa Ord (REMYF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.149 -- 00:00:05.013 Hello and welcome to the RemiQuantro Q1 sole publication. 00:00:05.013 -- 00:00:09.277 My name is Laura and I will be your coordinator for today's event. 00:00:09.277 -- 00:00:14.141 Please note this call is being recorded and for the duration of the call, the lines will 00:00:14.141 -- 00:00:19.506 be on listen only. However, you will have the opportunity to ask questions 00:00:19.506 -- 00:00:24.650 at the end of the call. This can be done by pressing star 1 on your telephone 00:00:24.650 -- 00:00:30.029 keypad to interfere question. If you require assistance at any point, Please 00:00:30.029 -- 00:00:33.934 press star zero and you will be connected to an operator. 00:00:33.934 -- 00:00:39.242 I will now hand you over to your host, Luca Morota, the CFO, to begin today's 00:00:39.242 -- 00:00:42.284 conference. Thank you. 00:00:43.729 -- 00:00:45.471 Good morning, everyone. 00:00:45.471 -- 00:00:51.280 Thank you for joining us today. As highlighted in our press release, 00:00:51.280 -- 00:00:56.865 Q1 sales increased by 5.7% organically. 00:00:58.081 -- 00:01:03.387 This performance reflects several key factors. 00:01:03.387 -- 00:01:08.252 First of all, a very favorable base of comparison in the U.S. 00:01:08.252 -- 00:01:13.357 and a modest sequential improvement in value depreciation, Q1 of 00:01:13.357 -- 00:01:18.561 this year compared to Q4 previous fiscal year. 00:01:18.563 -- 00:01:24.109 Second point, tough market condition of China and the continuous 00:01:24.109 -- 00:01:27.815 disruption of trade retail in China. 00:01:27.815 -- 00:01:33.281 Excluding this technical specific factor, representing a negative impact of 2.5 00:01:33.281 -- 00:01:38.306 points at group level, China specifically would have been positive, sho...