- Remy Cointreau
- 25 July 2025 09:52:15
Source: Sharecast
The Cognac-headquartered firm said it expects organic current operating profit (COP) to register a mid-to-high-single-digit decline, compared with previous guidance of a mid-to-high-teens decline.
The company expects a return to organic growth in the second half, with full-year organic sales to grow at a mid-single-digit percentage, driven by a strong rebound in sales to the US.
Alongside its first-quarter results on Friday, Rémy Cointreau said that, following the minimum-price agreement between China and the US, trade tariffs are now expected to have a €45m negative net impact on the bottom line, down from €65m previously.
On the downside, the hit from currency movements is expected to be worse: the company has predicted a €50-60m adverse impact from FX on sales (down from €30-35m previously) and a €15-20m impact on COP (down from €10-15m previously).
Sales totalled €220.8m in the three months to 30 June, up 1.8% over last year and 5.7% higher on an organic basis.
Cognac sales rose 1.3% organically as a decline in China – driven by tough market conditions and the inaccessibility of Chinese duty-free markets – was outweighed by a "very steep rise" in the US due to favourable comparatives.
The liqueurs and spirits division recorded 17.3% organic growth, again driven by strong growth in the US, along with renewed growth in EMEA.
The stock was up 5.6% at €60.90 by 1035 in Paris.