After the announcement last October of a very good second quarter, Rémy Cointreau remains on an upward trend with new exponential results for the first half of 2021-2022.
Rémy Cointreau achieved consolidated revenues of €645.3 million in the first half of 2021-2022, which began in March 2021. This represents an organic increase of 52% and 26.9% compared to the first half of 2019-2020, which took place before the Covid-19 pandemic. In addition, the realized gross margin reached 69.1%, up from 64.7% last year. In reaction to these announcements, Rémy Cointreau’s shares jumped by 8.1% this Thursday morning on the stock market to 202 euros.
The cognac company remains the leader, reporting a turnover of 188.1 million euros, doubling the result for the equivalent half-year of 2020-2021. This is due to the price increase achieved worldwide last April. These excellent results are also due to continued momentum in China and the United States, both of which are favourable for the spirits market, as well as a significant recovery in Europe.
Liquor sales reached 37.8 million euros, compared to 18.6 million euros last year, driven by all regions of the world. The United States is showing a real craze for Maison Cointreau, while Europe is benefiting from a high level of consumption since the reopening of the on-trade channel.
“This has been a great six months for Rémy Cointreau and reflects our market share gains and solid progress against our strategic priorities,” said Eric Vallat, Cointreau’s Chief Executive Officer.”These results also allow us to fuel the growth of tomorrow, by accelerating our investments in our brands, our business model and our #APlanetOfException plan to fight global warming. We should be proud, but remain humble, as we operate in a resilient industry. Moreover, our exceptional brands have been built up over the centuries and are now perfectly positioned to benefit from the upmarket trend we are seeing around the world.”
For 2021-2022, Rémy Cointreau anticipates strong organic revenue growth, motivated by the performance of this half-year. The Group also confirms its intention to significantly increase its marketing and communication investments in 2022, in order to continue this growth trend.
These results further strengthen Cointreau’s ambition to become the world leader in exceptional spirits.
Read also > RÉMY COINTREAU POSTS BETTER THAN EXPECTED Q2 RESULTS
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