In the first half of 2022-23, Rémy Cointreau generated revenues of €867.1 million, up 21.1% on an organic basis, including 16.2% growth in the second quarter. 200 million in the third quarter, Interparfums achieved a record performance, exceeding expectations.
Rémy Cointreau records organic growth of 16.2% in the second quarter
The spirits group highlights the “exceptionally high comparison base of +52.0%” in the first half of 2021-22. It says its performance this year reflects a strong increase in the price-mix effect (+11.4%), in line with the group’s value strategy, and an increase in volumes (+9.7%).
On a reported basis, revenues increased by 34.4%, including a very positive currency effect (13.3%), mainly due to the evolution of the US dollar and the Chinese renminbi.
The Cognac division, the largest, achieved organic growth of 22.4% in the first half of the year to 638.1 million euros, “driven by all regions“.
Thanks to its strong growth, Rémy Cointreau has confirmed its annual targets. It anticipates another year of strong organic growth, including a normalization of consumption trends in the second half of the year, after two years of exceptional growth.
The Group intends to continue to implement its strategy, focused on the development of its brands in the medium term and supported by a policy of sustained investment in marketing and communication, particularly in the second half of the year.
As a result, the organic improvement in the operating margin before non-recurring items will be driven by a solid resilience of its gross margin despite an inflationary environment and by strict control of its structural costs.
Given the expected phasing effects on revenue and marketing and communication expenditure, the organic improvement in operating margin before non-recurring items will be driven primarily by the first half.
Interparfums reports record performance and raises its 2022 objectives
Thanks to continued strong demand for the Group’s flagship brands, in the first nine months of 2022, Interparfums revenues reached 514 million euros, up 16.5% at current exchange rates and 10% at constant exchange rates. 195.3 million in the third quarter.
Among its notable results, the group said that France posted 12% growth over the period, thanks in particular to Rochas perfumes.
Philippe Benacin, Chairman and CEO of the French perfume group, said: “Despite the international context and persistent supply tensions, we achieved a record third quarter. The attractiveness of our brands continues unabated. Given the good level of sales in October and the continuing high level of orders, we are revising upwards our level of activity with revenues now expected to be between €640 and €650 million for the year 2022″ . Previously, it was targeting revenues of between €630 million and €640 million.
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