Rémy Cointreau quarterly sales rise 4.2% to €280.1 million, beating forecasts
Key Facts
Rémy Cointreau’s organic sales rose 4.2% in the second quarter of fiscal 2026-2027 to €280.1 million, beating the average analyst forecast of 3.6%, according to consensus data compiled by the company and reported by Reuters. The results returned the company to growth after organic sales fell in the first quarter, according to its earlier statement. Cognac was the main driver, with organic sales up 12.4% to €189.9 million, exceeding analysts’ forecast of €186.4 million. The company said Cognac shipments to China accelerated ahead of the Mid-Autumn Festival. Rémy Cointreau reaffirmed its fiscal-year targets, according to a Reuters report, putting the quarterly improvement in the context of a recovery the company still aims to sustain.
For the first half, sales reached €510.9 million, up 2.9% organically and 4.4% on a reported basis, according to the company’s official statement. The total masks a clear divergence between regions: sales grew 14.3% in Asia-Pacific, while falling 5.5% in the Americas and 2.2% in Europe, the Middle East and Africa. The company attributed Asia-Pacific’s growth to the acceleration in China shipments in the second quarter. In the United States, Cognac sales were affected by a higher comparison base and distributors reducing inventory after distribution changes, according to Reuters. The company added that the actual drawdown of inventory improved compared with the previous quarter, as it seeks to restore growth after a prolonged period of weak demand in China and the clearing of U.S. distributor inventories.
Alongside the improvement in sales, the company cut its estimate of the impact of tariffs on current operating profit for fiscal 2026-2027 to about €5 million from about €20 million previously, reflecting mainly lower U.S. tariffs, according to Reuters. It also forecast a positive currency impact of about €15 million on full-year sales, after its previous estimate indicated a negative impact of about €15 million. These two estimates change the picture of external factors incorporated into the company’s annual outlook, alongside the trajectory of organic sales. Rémy Cointreau reaffirmed its annual targets for fiscal 2026-2027, according to a Reuters report published via Boursorama. The first-half results, due to be reported, remain the next milestone that will show the company’s progress over the broader period.
The announcement follows 7.7% sales growth reported by the company in an earlier report published by EL7 on July 29, amid a recovery in demand for premium Cognac, according to the news published at the time. The latest Chinese data cited in the evidence indicate that the official manufacturing purchasing managers’ index rose to 50.1 in September from 49.8 in August, exceeding the threshold of 50 that separates contraction from expansion. The non-manufacturing activity index stood at 50.2, while the construction and services indexes were 50.3 and 50.2, respectively, according to data reported by the Chinese government portal, citing the National Bureau of Statistics. These indicators provide context on broader economic activity, while the company attributed the acceleration in Cognac shipments to the timing of preparations for the Mid-Autumn Festival. The National Bureau of Statistics is scheduled to release the October purchasing managers’ index reading on October 31.
The next focus is the company’s financial calendar, with first-half results for fiscal 2026-2027 scheduled to be announced on November 25, 2026, according to Rémy Cointreau’s calendar. The results will provide an update on performance over the six months, after the company has so far recorded 2.9% organic growth in the first half. The date also comes after the Chinese October purchasing managers’ index reading, scheduled for October 31, adding a new economic indicator to the market’s monitoring. The company had set the release of its second-quarter sales results for October 28 at 07:30, with a presentation at 09:00, according to its investor relations page. The quarterly figures have now been released, leaving the first-half results as the next milestone on its calendar.