Rémy Cointreau, a French spirits group specializing in the production of cognacs, liqueurs and champagnes, released its financial results for the third quarter of 2021 on Tuesday.
The spirits group achieved revenues of 1,085.8 million euros in the first nine months of 2021, bringing it to 38.1% organic growth compared with the previous period. For information purposes, the term “organic” refers to growth in revenues at constant exchange rates and scope of consolidation. This strong growth continued in Q3 2021, which began in April. Indeed, during this period, Cointreau saw a 21% increase in revenues.
A very large number of regions contributed to the group’s strong growth, but three regions in particular stood out from the others. The Americas, North Asia and particularly China, as well as Europe, the Middle East and Africa, contributed to the strong performance of the spirits group.
In more detail, the Cognac division continued to benefit from sustained consumer demand in the third quarter, +19.4% in organic terms, also recording an increase of 38.5% in organic terms over the first nine months. This growth will be sustained in particular by the creation of its new communication platform for its XO quality in China by Rémy Martin, a major Cognac house belonging to the Rémy Cointreau group.
The Liqueurs & Spirits division also showed strong growth in the first nine months of 2021, with organic growth of 39.1% over this period. This continued in the third quarter, with growth of 27.3%. This growth will enable the company to “strengthen the brand’s reputation and capital with a new generation of customers, in order to increase its market share in the high-end segment”, says Rémy Cointreau. says Rémy Cointreau.
In addition, sales of Cointreau’s partner brands grew by 14.3% in the third quarter of 2021, on top of the 20.1% growth achieved in the first nine months of 2021. In the United States in particular, Maison Cointreau is benefiting from very good sales momentum, encouraged by the collaboration with actress Jessica Alba and The Botanist gin.
Regarding its outlook for the year 2021-2022, the group remains focused on outperforming the capacity of its exceptional spirits markets. Indeed, Rémy Cointreau is targeting very strong organic growth in its current operating income, as well as an organic improvement in its current operating margin. The group expects this growth to be driven by the exceptional performance achieved in the first half of the year.
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Featured photo : © Rémy Cointreau
