Remy Cointreau SA · EURONEXT:RCO
Remy Cointreau SA — Q1 2016/17 Earnings Presentation
16 slides from Remy Cointreau SA's earnings presentation, Jul 20, 2016
Slide 1: Fiscal Year 2016/17 3 months ended 30 June 2016
Fiscal Year 2016/17 3 months ended 30 June 2016 20 July 2016
Slide 2: Key Messages
Key Messages Q1 performance fully in-line with our expectations Q1 is a small contributor to full-year sales (c20% on an organic basis): Flat Q1 2016-17 after strong Q4 2015-16 Further improvement in depletion trends in Q1 (both in volume and value): Accelerated growth in the US Further improvement
Slide 3: Q1 2016/17 Sales Analysis
Q1 2016/17 Sales Analysis €m Q1 15/16 Organic Currency Q1 16/17 Reported decline: -2.1% 223.3 +0.0% -2.1% 218.6 3
Slide 4: Currency Impact on Q1 2016/17 Sales
Currency Impact on Q1 2016/17 Sales Negative currency impact of EUR4.8m Others 23% USD 44% GBP 10% CNY 23% 4
Slide 5: Quarterly Organic Sales Growth
Quarterly Organic Sales Growth Q1 14/15 Q2 14/15 Q3 14/15 Q4 14/15 Q1 15/16 Q2 15/16 Q3 15/16 Q4 15/16 Q1 16/17 23.4%(**) 9.8% 3.2% 0.0% -1.0%(**) -3.2% -5.7%(**) -5.5%(**) -9.0%(*) Q1 as % 22% 21% c20% FY sales (*) Excluding technical factors, organic sales growth was -2.7% (**) Calculated based on
Slide 6: Q1 Organic Growth by Product Division
Q1 Organic Growth by Product Division Rémy Martin Liqueurs & Spirits Partner Brands Group 5,0% +4.3% 3,0% 1,0% +0.0% -1,0% (0.5%) (0.8%) -3,0% -5,0% 6
Slide 7: Q1 2016/17 Trends by Region (1)
Q1 2016/17 Trends by Region (1) Asia Pacific: a planned Q1 drop, that will reverse in the remainder of the year Significant gap between negative sell-in and improving sell-out (in value) in the quarter Greater China: volume and value depletions up mid-single digits in Q1, o/w: Solid double-digit gro
Slide 8: Q1 2016/17 Trends by Region (2)
Q1 2016/17 Trends by Region (2) Europe, Middle East & Africa: positive growth led by emerging markets Western Europe: sell-in penalized by earlier Easter in Q1; sell-out unchanged (flat+) Q1 shipments penalized by the earlier Easter celebrations Good depletion trends in the UK and in France, but wea
Slide 9: Rémy Martin (-0.5% organic decline)
Rémy Martin (-0.5% organic decline) Asia Pacific: Sales decline in Q1 (after very strong growth in Q4) not representative of FY expectations Greater China improving further: volume and value depletions up mid-single digit in Q1 Americas: Sales up double-digits in Q1 US volume depletions running at s
Slide 10: Rémy Martin: Marketing Initiatives
Rémy Martin: Marketing Initiatives Carte Blanche à Baptiste Loiseau XO Cannes Limited Edition 2016 10
Slide 11: Liqueurs & Spirits (-0.8% organic decline)
Liqueurs & Spirits (-0.8% organic decline) Slight Q1 sales decline largely due to earlier Easter and buy-in ahead of price increases Cointreau: sell-in decline in Q1; but further improvement in sell-out trends Q1 sales decline due to shipment phasing (earlier Easter and price increases in Q1) US dep
Slide 12: Liqueurs & Spirits (-0.8% organic decline)
Liqueurs & Spirits (-0.8% organic decline) Mount Gay: Q1 sales decline resulting from a new round of price increases on Eclipse in the US Positive mix gains led by the successful international roll-out of Black Barrel and XO US volume depletions largely reflecting upgrading strategy (gradual elimina
Slide 13: Liqueurs & Spirits: Marketing Initiatives
Liqueurs & Spirits: Marketing Initiatives Cointreau Fizz’s Summer Tour in France 13
Slide 14: Partner Brands (+4.3% organic growth)
Partner Brands (+4.3% organic growth) Positive Q1 performance driven by third-party spirits distributed in EMEA Sales in champagne brands (Piper and Charles Heidsieck) continued to decline in the quarter 14
Slide 15: 2016/17 Outlook Confirmed
2016/17 Outlook Confirmed ■ Q1 organic sales performance fully in-line with Group’s expectations ■ Maintains guidance of delivering positive growth in Current Operating Profit, at constant exchange rate and scope, in fiscal 2016/17 15
Slide 16: Q&A
Q&A