Rémy Cointreau signals fresh start under new CEO
Rémy Cointreau’s new chief executive says the group has moved past the worst of its challenges. Early results suggest cautious optimism as the company prepares for a major strategic reset.
Remy Cointreau’s new CEO thinks the French group has “turned a corner”.
Franck Marilly, who took over in June, said in a statement accompanying the group’s financial performance for the six months to the end of September: “The first half of the year was challenging, but it marks the start of a new era for Remy Cointreau.”
“Despite a persistently tough environment, we remain confident in our ability to return to growth in the second half.”
Better-than-expected profit lifts shares
The company made a reported operating profit of €108.7 million which was better than expected by analysts. Their consensus prediction had been of an 18% drop compared with the same period in 2024, but the like-for-like fall came in at 13.6%. That sent the shares up by about 5% in Paris.
Sales still hit by US and China slowdown
As previously reported, the company’s sales fell by 4.2% to €489.6 million on the back of continuing slumps in both the US and China which last month forced it to cut its goals for the full financial year.
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Remy Cointreau generates about 70% of its annual sales from Cognac, largely in those two markets.
It now expects organic sales growth for the full-year 2025/2026 to range between stable and low single-digit. It also forecasts an organic decline in annual current operating profit of between low-double-digit and mid-teens.
Marilly outlines five-point transformation plan
Marilly gave strong guidance that he is about to shake up the group.
“It is time to challenge the way we think and operate. I identified five key levers to regain agility and drive performance: adapting our organisation, rebalancing our commercial resources, redefining how our brands express their DNA, sharpening our value-driven strategy, and reevaluating our investment model to focus resources on our top priorities”, he said.
“In the coming months, our efforts will centre on shaping and deploying our transformation plan, while immediately activating the value-creation levers that are already within our reach. This includes building on innovations aligned with evolving consumer expectations and enhancing our pricing agility, all while staying true to our value-driven strategy.
“I am convinced that we have everything we need to succeed: a unique portfolio, iconic brands whose strength lies in their legacy and local roots, and teams whose commitment truly sets us apart,” he concluded.
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