Remy Cointreau Sa Ord (REMYF) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Remy Contreau 2025-2026 third quarter sales presentation. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key five on the telephone keypad. Now I will hand the conference over to Luca Murata, CFO. Please, sir, go ahead. Good morning, everyone. Thank you for joining us today. As highlighted in our press release, Q3 sales grew by 2.8 organically, and this result stems from mixed regional trends, mainly driven by, on one end, solid growth in the U.S. for a fourth consecutive quarter, supported by clearly low comps, and improved sequential depressions. They are slightly improving compared to Q2, but less than expected, and they are still negative, talking about the depression in the U.S. In addition, EMEA is back to growth in Q3, driven by both divisions, cognac and liposome spirits. And last but not least, on the other hand, China is relatively resilient, considering the continued challenging markets and excluding an unfavorable calendar effect due to the shift of Chinese New Year's timing, which count for three points in Q3 at group level, i.e. one point if you consider the year-to-date nine-month basis. Let me put everything differently. We would have been flattish over nine months, excluding those technical effects. Q3 sales decline breaks down as follows. A volume increase of 8.7 and 5.9 in price mix effect. Clearly, Q3 sales increase. Largely driven by cognac, mostly in India and China, which is impacted by the performance of the end brands. Looking at the overall sales performance by region, America was up by high single digit over nine months, of which a low to mid single digit growth in the Q3. APAC sales decre...