Remy Cointreau reported a decline in sales and cut its forecast for the year – Kommersant
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French alcohol producer Remy Cointreau presented sales data for the first half of the year, as well as a forecast for the entire 2023-2024 financial year, which will end in March 2024 (.pdf).
The company’s sales fell by 26.6%, to €637 million. Organic sales (results excluding mergers and acquisitions), which Remy Cointreau pays special attention to, decreased by 22.2%. In this regard, the manufacturer lowered its forecast for the year as a whole: if previously it was expected that organic sales would remain at approximately the same level, now the company expects them to decline by 15–20%.
The most serious decline was in organic sales of cognac – by 30.1%, which was the result of a sharp, almost 50%, decline in sales in North America. In the region, sales of high-end alcoholic beverages are returning to pre-pandemic levels after growing significantly during the pandemic. In the Asia-Pacific and EMEA regions, sales, on the contrary, grew by 16.6% and 8.9%, respectively.
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