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France's Remy Cointreau H1 sales rise, helped by Cognac growth in Asia

By Reuters News


Overview

  • France spirits maker's H1 2026-27 sales rose 2.9% organically

  • Cognac sales grew strongly in Q2, while Liqueurs & Spirits declined

  • Company completed €250 mln hybrid bond issue to boost financial flexibility


Outlook

  • Remy Cointreau expects sustainable organic sales growth for full-year 2026-27

  • Company now sees tariff impact on operating profit at €5 mln, down from €20 mln

  • Remy Cointreau maintains target of slight organic improvement in current operating margin


Result Drivers

  • COGNAC GROWTH IN ASIA - Strong Cognac sales in APAC, especially China, driven by accelerated shipments ahead of Mid-Autumn Festival

  • DESTOCKING IN AMERICAS - Sales in Americas declined due to high comparison base and destocking after US distribution changes, though underlying depletions improved

  • SUBDUED DEMAND IN EUROPE - EMEA results impacted by weak consumer demand and heavy promotional activity


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

EUR 510.90 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 9 "hold" and 7 "sell" or "strong sell"

  • The average consensus recommendation for the distillers & wineries peer group is "buy."

  • Wall Street's median 12-month price target for Remy Cointreau SA is €46.00, about 9.3% below its October 27 closing price of €50.70

  • The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 24 three months ago


Reuters Recommended Reads

  • Oct 25 - France's Le Pen launches presidential bid as protests rattle the nation

  • Oct 27 - French consumer confidence hits a 2013 low in October amid protests

  • Oct 26 - Whirlpool Q3 sales, adjusted EPS miss estimates on weak appliance demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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