Rémy Cointreau announced on Wednesday that it anticipates a return to organic revenue growth and expects organic operating profit growth in the range of approximately 8% to 12% ("high single-digit" to "low double-digit") for the 2025-26 fiscal year. However, these forecasts from the French group exclude the potential impact of increased tariffs in China and the United States.
Geopolitical uncertainties linked to tariff policies in China and the U.S. have also led the spirits group to withdraw its 2029-2030 objectives, which were announced in June 2020. Rémy Cointreau stated that "the conditions are no longer met" to achieve these targets.
"This decision is also motivated by the imminent arrival of a new CEO, who will define his own roadmap while building on the Group's longstanding value strategy," Rémy said in a statement.
The maker of Rémy Martin cognac and Cointreau liqueur, which announced in May the upcoming appointment of Franck Marilly as chief executive, is also targeting a return to organic revenue growth of around 4% to 6% ("mid single-digit") in 2025-2026. The company cited a strong "technical" rebound in U.S. sales as early as the first quarter.
For its 2024-2025 fiscal year, which ended in March, Rémy Cointreau reported a current operating margin of 21.6%, in line with the group's expectations of between 21% and 22% on an organic basis as stated in late April.
Its annual current operating profit fell by 30.5% organically to €217.0 million. Analysts had forecast €213.9 million, according to a company-provided consensus.
(Written by Elena Smirnova, edited by Augustin Turpin)
