FX.co ★ Remy Cointreau 9-month Sales Down 22.7% On Organic Basis; Confirms 2023-2024 Objectives

Remy Cointreau (REMYF.PK) has unveiled its 9-month consolidated sales, recording 956.6 million euros, which marks a 22.7% decrease organically compared to the previous year. Analyzing the data on a reported basis, it appears that sales have plummeted by 26.7%. The third quarter has seen a dip in sales by 23.5% from the preceding year, according to organic data.

The luxury French spirits company predicts for 2023-24, a sharp downturn in sales, which is proposed to align with the lower end of their guidance range, even potentially nearing a slump of 20% on an organic basis. In terms of COP margin, the company anticipates a manageable decline organically.

Looking ahead to the near future, Remy Cointreau re-confirms its financial and extra-financial objectives for the fiscal year of 2029-30.