CONSOLIDATED FINANCIAL STATEMENTS OF THE RÉMY

COINTREAU GROUP AT 31 MARCH 2022

Consolidated income statement

(in € millions)

Notes

2022

2021

Sales

15

1,312.9

1,010.2

Cost of sales

(411.8)

(330.1)

Gross margin

901.1

680.1

Distribution costs

16

(433.2)

(341.6)

Administrative expenses

16

(133.5)

(102.5)

Current operating profit/(loss)

15

334.4

236.1

Other operating income/(expenses)

18

(14.1)

(0.2)

Operating profit/(loss)

320.3

235.9

Net borrowing cost

(10.4)

(12.0)

Other financial income/(expense)

(2.8)

(2.6)

Financial result

19

(13.2)

(14.6)

Profit before tax and before share of profit of associates

307.1

221.2

Income tax

20

(95.6)

(77.6)

Share of profit of associates

5

0.8

0.6

Net profit/(loss) from continuing operations

212.3

144.3

Net profit/(loss) from discontinued operations

-

-

Net profit/(loss) for the period

212.3

144.3

Of which:

attributable to non-controlling interests

(0.2)

(0.3)

attributable to owners of the parent

212.5

144.5

Net earnings per share - from continuing operations (€)

Basic

4.21

2.88

diluted

4.11

2.75

Net earnings per share -

attributable to owners of the parent (€)

Basic

4.21

2.89

diluted

4.11

2.75

Number of shares used for the calculation

basic

10.2

50,439,010

50,070,497

diluted

10.2

51,727,100

52,646,147

CONSOLIDATED FINANCIAL STATEMENTS OF THE REMY COINTREAU GROUP AT 31 MARCH 2022

1 /44

Consolidated statement of comprehensive income

(in € millions)

2022

2021

Net profit/(loss) for the period

212.3

144.3

Movement in the value of hedging instruments

(8.8)

(0.4)

Actuarial difference on pension commitments

2.3

0.7

Securities at fair value through OCI

(4.3)

9.0

Related tax effect

1.0

(0.1)

Movement in translation differences

9.7

(0.2)

Total income/(expenses) recorded in equity

(0.2)

9.1

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

212.1

153.4

Of which:

attributable to owners of the parent

211.8

153.7

attributable to non-controlling interests

0.2

(0.3)

CONSOLIDATED FINANCIAL STATEMENTS OF THE REMY COINTREAU GROUP AT 31 MARCH 2022

2 /44

Consolidated statement of financial position

(in € millions)

Notes

2022

2021

Goodwill and other intangible assets

2

511.9

508.1

Rights-of-use, IFRS 16

3

23.4

17.4

Property, plant and equipment

4

368.9

336.6

Investments in associates

5

1.7

1.7

Other financial assets

6

36.1

26.6

Deferred taxation

20

40.4

29.5

Non-current assets

982.5

919.9

Inventories

7

1,615.5

1,492.5

Trade and other receivables

8

253.6

158.1

Income tax receivables

20

6.9

4.9

Derivatives

14

3.8

4.7

Cash and cash equivalents

9

116.3

201.0

Current assets

1,996.0

1,861.2

TOTAL ASSETS

2,978.6

2,781.1

Share capital

81.8

80.8

Share premium

857.4

834.8

Treasury shares

(58.7)

(25.1)

Consolidated reserves and profit/(loss) for the period

748.4

635.3

Translation differences

31.8

22.6

Shareholders' equity - attributable to owners of the parent

1,660.7

1,548.4

Non-controlling interests

1.0

0.8

Shareholders' equity

10

1,661.8

1,549.2

Long-term financial debt

11

363.9

423.8

Provision for employee benefits

23

26.4

29.1

Long-term provisions for liabilities and charges

12

3.3

2.1

Deferred taxation

20

56.0

57.1

Non-current liabilities

449.6

512.1

Short-term financial debt and accrued interest charge

11

105.7

91.5

Trade and other payables

13

683.3

586.1

Income tax payables

20

46.6

27.4

Short-term provisions for liabilities and charges

12

17.9

7.7

Derivatives

14

13.7

7.1

Current liabilities

867.2

719.8

TOTAL EQUITY AND LIABILITIES

2,978.6

2,781.1

CONSOLIDATED FINANCIAL STATEMENTS OF THE REMY COINTREAU GROUP AT 31 MARCH 2022

3 /44

Change in consolidated shareholders' equity

Share

Treas-

Reserves

Transla-

Profit/(loss)

Attributable to:

capital

owners of

non-con-

Total

(in € millions)

ury

and net

tion differ-

recorded in

and pre-

the parent

trolling in-

equity

shares

profit/(loss)

ences

equity

miums

company

terests

At 31 March 2020

875.4

(30.0)

559.3

22.7

(24.9)

1,402.5

0.9

1,403.4

Net profit/(loss) for the period

-

-

144.5

-

-

144.5

(0.3)

144.3

Gains/(losses) recorded in equity

-

-

-

(0.1)

9.2

9.1

(0.1)

9.1

Share-based payments

-

-

2.1

-

-

2.1

-

2.1

Transactions on treasury shares

-

1.9

-

-

-

1.9

-

1.9

Dividends

40.3

-

(49.9)

-

-

(9.6)

-

(9.6)

Reclassification

-

2.9

(2.9)

-

-

-

-

-

Other movements

-

-

(2.2)

-

-

(2.2)

0.2

(2.0)

At 31 March 2021

915.6

(25.1)

651.0

22.6

(15.7)

1,548.4

0.8

1,549.2

Net profit/(loss) for the period

-

-

212.5

-

-

212.5

(0.2)

212.3

Gains/(losses) recorded in equity

-

-

-

9.2

(9.9)

(0.6)

0.4

(0.2)

Share-based payments

-

-

7.5

-

-

7.5

-

7.5

Transactions on treasury shares

-

(171.8)

-

-

-

(171.8)

-

(171.8)

Capital reduction

(130.4)

130.4

-

-

-

-

-

-

Dividends

-

-

(93.7)

-

-

(93.7)

-

(93.7)

Capital increase through employee

3.1

-

-

-

-

3.1

-

3.1

shareholding plan

OCEANE conversion (note 11)

150.9

7.8

(4.0)

-

-

154.6

-

154.6

Other movements

-

-

0.7

-

-

0.7

-

0.7

At 31 March 2022

939.3

(58.7)

774.0

31.8

(25.6)

1,660.7

1.0

1,661.8

CONSOLIDATED FINANCIAL STATEMENTS OF THE REMY COINTREAU GROUP AT 31 MARCH 2022

4 /44

Consolidated statement of cash flows

(in € millions)

Notes

2022

2021

Current operating profit/(loss)

334.4

236.1

Depreciation, amortisation and impairment

40.0

34.0

Share-based payments

8.3

2.1

Dividends received from associates

5

0.7

0.3

EBITDA

383.4

272.5

Change in inventories

(118.0)

(100.3)

Change in trade receivables

(38.5)

9.3

Change in trade payables

61.6

79.7

Change in other receivables and payables

(45.4)

(1.6)

Change in working capital requirement

(140.4)

(12.9)

Net cash flow from operations

243.1

259.6

Other operating income/(expense)

(0.0)

(0.0)

Financial result

(8.7)

(10.0)

Income tax

(89.6)

(72.5)

Other operating cash flows

(98.3)

(82.6)

Net cash flow from operating activities

144.8

177.0

Purchase of intangible assets and property, plant and equipment

2/4

(54.5)

(54.0)

Purchase of shares

-

(6.7)

Disposals of non-current assets

0.2

1.4

Disposal of shares in associates and non-consolidated investments

-

71.3

Net cash flow from other investments

(11.5)

(3.5)

Net cash flow from investment activities

(65.7)

8.4

Capital increase

3.1

-

Treasury shares

10

(171.8)

1.9

Increase in financial debt

114.4

4.6

Repayment of financial debt

(27.1)

(250.2)

Dividends paid

(93.7)

(9.6)

Net cash flow from financing activities - continuing operations

(175.1)

(253.2)

Net cash flow from financing activities

(175.1)

(253.2)

Translation differences on cash and cash equivalents

11.4

(0.6)

Change in cash and cash equivalents

(84.7)

(68.4)

Cash and cash equivalents at start of year

9

201.0

269.4

Cash and cash equivalents at end of year

9

116.3

201.0

CONSOLIDATED FINANCIAL STATEMENTS OF THE REMY COINTREAU GROUP AT 31 MARCH 2022

5 /44

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Rémy Cointreau SA published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 16:11:07 UTC.