Remy Cointreau Sa Ord (REMYF) Q3 2026 Earnings Call

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WEBVTT 00:00:01.803 -- 00:00:07.449 Welcome to the Remy Contreau 2025-2026 third quarter sales presentation. 00:00:07.449 -- 00:00:11.913 For the first part of the conference call, the participants will be in listen-only mode. 00:00:11.913 -- 00:00:17.039 During the questions and answers session, participants are able to ask questions by dialing 00:00:17.039 -- 00:00:22.484 pound key five on the telephone keypad. Now I will hand the conference over to Luca Murata, 00:00:22.484 -- 00:00:26.126 CFO. Please, sir, go ahead. 00:00:27.469 -- 00:00:32.178 Good morning, everyone. Thank you for joining us today. 00:00:32.178 -- 00:00:37.326 As highlighted in our press release, Q3 sales grew 00:00:37.326 -- 00:00:40.131 by 2.8 organically, 00:00:40.131 -- 00:00:45.740 and this result stems from mixed regional trends, mainly driven 00:00:45.740 -- 00:00:50.828 by, on one end, solid growth in the U.S. 00:00:50.828 -- 00:00:56.837 for a fourth consecutive quarter, supported by clearly low comps, 00:00:56.837 -- 00:01:00.342 and improved sequential depressions. 00:01:00.342 -- 00:01:05.649 They are slightly improving compared to Q2, but less than expected, 00:01:05.649 -- 00:01:11.336 and they are still negative, talking about the depression in the U.S. 00:01:11.336 -- 00:01:16.483 In addition, EMEA is back to growth in Q3, driven by both divisions, 00:01:16.483 -- 00:01:19.087 cognac and liposome spirits. 00:01:19.087 -- 00:01:24.694 And last but not least, on the other hand, China is relatively resilient, 00:01:24.694 -- 00:01:30.313 considering the continued challenging markets and excluding an unfavorable 00:01:30.313 -- 00:01:34.620 calendar effect due to the shift of Chinese New Year's timing, 00:01:34.620 -- 00:01:39.648 which count for three points in Q3 at group level, i....