17.01.2013 07:30:00
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Rémy Cointreau: Sales for the Nine Months April – December 2012
Regulatory News:
Rémy Cointreau’s (Paris:RCO) sales for the nine months of the current financial year increased by 17.5% to €964.4 million (7.9% organic growth), on the back of already very strong growth in 2011 (22.9% organic growth). Group brands reported growth of 20.6% in published data (10.0% organic growth).
As previously indicated, weaker growth was reported for the third quarter due to the later date of the Chinese New Year, resulting in a technical decrease in shipments. Nevertheless, the Group’s own brands grew during this third quarter.
Divisional analysis:
(€ millions) | 9 months to | 9 months to | % Change | |||||
30.12.12 | 30.12.11 | Published | Organic* | |||||
Rémy Martin | 589.5 | 475.5 | +24.0 | +12.4 | ||||
Liqueurs & Spirits | 184.1 | 166.0 | +10.9 | +3.2 | ||||
Sub-total Group brands | 773.6 | 641.5 | +20.6 | +10.0 | ||||
Partner brands | 190.8 | 179.5 | +6.3 | +0.2 | ||||
Total | 964.4 | 821.0 | +17.5 | +7.9 |
*On a like-for-like basis
Rémy Martin - The cumulative organic growth was 12.4% for the first nine months of the financial year. This growth was affected by the later date of the Chinese New Year. However, the US continued to deliver very strong results, as did Asia, which continues to grow, primarily in premium cognac. Sales in Europe remained buoyed by Russia and increased, together with some Western European countries.
Liqueurs & Spirits - Sales throughout the division grew by 3.2% organically during the first nine months of the year with, in particular, strong gains by Cointreau in the US but also in Europe and Asia. Metaxa reported growth, mainly in its markets with potential for growth, but the brand remained affected by the economic situation in Greece.
Bruichladdich has been included in the Liqueurs & Spirits division since 1 September 2012.
Partner Brands - The distribution of Scotch whiskies in the US continued to show remarkable growth, whereas the Champagne business was adversely affected by weak consumer spending in Europe during the third quarter.
The US Dollar/Euro exchange rate remained favourable for the Group.
On 18 December 2012, Rémy Cointreau announced that it had signed an agreement to acquire the entire share capital of the cognac company, Larsen.
As announced at the end of November 2012, Rémy Cointreau also confirms its objective of significantly increasing its full-year earnings.
Rémy Cointreau will announce its 12 months sales on 18 April 2013.
-ENDS-
Appendix: Divisional and quarterly analysis and organic growth
APPENDIX
Rémy Cointreau – Analysis of sales by division and quarter and by organic growth
2012/13 Financial Year | ||||||||
(€ millions) | Rémy Martin |
Liqueurs & |
Partner Brand | Total | ||||
First quarter | 173.8 | 50.3 | 47.6 | 271.7 | ||||
Second quarter | 202.3 | 63.0 | 58.8 | 324.1 | ||||
Third quarter | 213.4 | 70.9 | 84.3 | 368.6 | ||||
Total sales | 589.5 | 184.1 | 190.8 | 964.4 | ||||
2011/12 Financial Year | ||||||||
(€ millions) | Rémy Martin |
Liqueurs & |
Partner Brand | Total | ||||
First quarter | 112.0 | 44.5 | 42.1 | 198.6 | ||||
Second quarter | 165.4 | 58.6 | 52.3 | 276.3 | ||||
Third quarter | 198.1 | 62.9 | 85.1 | 346.1 | ||||
Total sales | 475.5 | 166.0 | 179.5 | 821.0 | ||||
2012/13 vs 2011/12 | ||||||||
Organic growth | Rémy Martin |
Liqueurs & |
Partner Brand | Total | ||||
First quarter | 37.8% | 8.5% | 5.4% | 24.4% | ||||
Second quarter | 8.0% | -0.4% | 3.1% | 5.3% | ||||
Third quarter | 1.7% | 2.9% | -4.2% | 0.5% | ||||
Total sales | 12.4% | 3.2% | 0.2% | 7.9% |
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