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.