Luca Marotta , CFO

O c t o b e r 2 5 , 2 0 2 2

H1 ORGANIC* SALES GROWTH

+21.1%

H1 ORGANIC* SALES GROWTH BY REGION

H1 22/23

VALUE DEPLETIONS

BY REGION

FY GUIDANCE

CONFIRMED

  • A very good first half (+21.1%) on top of a high basis of comparison (+52.0% last year); +16.2% in Q2
  • Strong volume growth (+9.7%) while continuing to add value to our spirits (+11.4% of Price-Mix)
  • Robust demand led by clients throwing themselves into post-lockdown socializing; growing interest in high-status spirits and mixology; continued up-trading trends
  • Sharp recovery of Travel Retail from a low basis of comparison, led by European and American tourism (-36.9% vs. 3Y in Q2)
  • AMERICAS: +21.1%, evenly driven by Cognac and Liqueurs & Spirits with sell-in more weighted in Q1 this year (vs. Q2 LY)
  • APAC: +21.7%, led by a sharp Q2 recovery in China (strong MAF: double-digit growth in both sell-in and sell-out)
  • EMEA: +19.9%, supported by a solid post-covid summer season on the back of dynamic tourism flows
  • US: mid-teens decline (up HSD% excl. VSOP), impacted by high comps; up circa +45% (circa +80% excl. VSOP) on a 3Y-track
  • China: double-digit growth led by CLUB, RM XO and the Whisky portfolio
  • EMEA: low double-digit growth led by Western Europe, Benelux and AMEI
  • Strong organic sales growth, underpinned by sustained investments in A&P
  • Organic COP Margin improvement driven by solid GM resilience and strict control of overheads
  • An uneven year, with H1 outpacing H2 (at sales and COP levels)

(*) At constant exchange rates & scope

2

HSD%: High-single digit growth

3

5

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Rémy Cointreau SA published this content on 25 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2022 05:52:05 UTC.