” All the planets aligned, we outperformed the global spirits and wine market said Marc Hériard Dubreuil, Chairman of the Board of Directors of Rémy Cointreau, with satisfaction at the opening of its last general meeting. He passes the torch to his niece Marie-Amélie de Leusse. For his last GA, the manager praised a year ” historical »: billings up 27% to 1.3 billion euros, operating profit up 42% to 334.4 million euros, current operating margin up from 23.4% to 25.5%. A growth ” sustainable and healthy “, added the general manager of the producer and distributor of spirits, Éric Vallat. It is based on structural consumer trends, such as the move upmarket of customers around the world: “ Drink less, but drink better! “.
The group’s activity is mainly carried out in the Americas where Rémy Cointreau generates 55% of its turnover. Then in Asia-Pacific (37%) and in Europe, Middle East and Africa (8%), which raised questions in the audience. What about the impact of confinements in China on the activity, asked for example an individual shareholder to the management. ” They were very localizedreplied the general manager. Our sales are more in the south-east, which has been less penalized by the health situation. Yes, we have a logistics center in Shanghai, but we are now organized to deal with the Covid “.
“Sustainable Exception”
And will the appreciation of the dollar against the euro have an impact on the results? ” A penny of rise in the dollar results in an increase of 10 to 11 million euros on income and between 7 and 8 million euros on operating profit. But these are of course theoretical estimates. “says the group’s financial director, Luca Marotta.
The strong improvement in financial results allows the company to focus more on its extra-financial performance. They are among its strategic priorities and Rémy Cointreau is committed to investing €80 million in its “Sustainable Exception” plan over the next ten years. The CEO asks: How can we not have CSR policies when the land is the source of everything we produce? “. The group is already reaping the benefits. Among other things, it recently welcomed three women to its executive committee, increasing their proportion to 33% and indicating that they occupy 48% of the company’s key positions. In addition, 78% of its agricultural land is committed to sustainable and responsible certification. To cope with global warming, Rémy Cointreau is also developing grape varieties that are resistant to temperature changes. ” We are very proud to be the 1er carbon neutral group within the wine and spirits sector this year added Eric Vallat.
Leader in premium spirits?
And then ? ” The environment is so complex right now that it’s easier to work on a ten-year plan than to forecast the next six months. joked the general manager. But management is approaching the future with confidence: it declares itself ahead of its strategic plan, its growth is based on sound fundamentals and the group is well positioned to take advantage of current upmarket and digitalization trends. Ultimately, Rémy Cointreau aims to become the world leader in “exceptional spirits”.
The resolutions were all very widely adopted. A dividend of 2.85 euros, including 1 euro exceptional with the option of reinvestment in shares, will be paid to shareholders. Up 50%, it is “ the highest ever paid by Rémy Cointreau », underlined Marc Hériard Dubreuil.