Remy Cointreau Sa Ord (REMYF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.698 Good morning, everyone, and thank you for being with us this morning for Rémi Cointreau's 00:00:04.698 -- 00:00:06.882 full year results. 00:00:06.882 -- 00:00:12.390 I am here with Eric Valla, our CEO, and Luca Marotta, our CFO. 00:00:12.390 -- 00:00:17.054 Both of them will, of course, take you through the detailed results. 00:00:17.938 -- 00:00:24.584 As we present today our full year results, I would like to open with a few words of perspective. 00:00:24.584 -- 00:00:30.196 The past year has been marked by a complex and rapidly evolving environment, macroeconomic 00:00:30.196 -- 00:00:35.227 volatility, geopolitical tensions and temporary shifting consumer 00:00:35.227 -- 00:00:40.839 behaviour, all of which are more cyclical than structural and closely tied to a context 00:00:40.839 -- 00:00:43.433 of constrained spending. 00:00:43.433 -- 00:00:48.601 Yet, in the face of these headwinds, we remained true to our long-term vision, 00:00:48.601 -- 00:00:53.648 building exceptional brands, preserving our unique terroirs, and enhancing the 00:00:53.648 -- 00:00:56.392 desirability of our portfolio. 00:00:56.392 -- 00:01:01.359 But let us not forget, cognac has always evolved in long cycles. 00:01:01.359 -- 00:01:04.524 This is neither the first time nor the last. 00:01:04.524 -- 00:01:09.772 All the historic cognac families will tell you how it is important to stay the course 00:01:09.772 -- 00:01:14.906 during more difficult times. It is an essential condition for creating value over 00:01:14.906 -- 00:01:20.174 time. At Rémi Cointreau, we remain fully confident in the strength 00:01:20.174 -- 00:01:23.498 and relevance of our long-term strategy. 00:01:23.498 -- 00:01:28.165 Drink less but better is not a reaction, it is a convict...