(Boursier.com) — Remy Cointreau fell 0.6% to 174.70 euros on Tuesday, as analysts continue to adjust to market developments, particularly in Asia. Morgan Stanley is no longer targeting a course of 162 euros, against 167 euros previously with an opinion to ‘underweight’, but Goldman Sachs on the contrary revalues the title from 225 to 230 euros by remaining on the purchase ‘. The group published, over the fourth quarter, sales down 1% in published data and 9.4% in organic data to 227 million euros… A decline mainly linked to the group’s desire to control its strategic stocks before realizing a significant price increase on April 1, 2022 and an unfavorable calendar effect linked to the Chinese New Year, management explained. In the fourth quarter, sales of the Cognac division thus fell by 7.1% in published data and by 16.7% in organic data to 151 ME.
For the entire financial year, the group anticipates “very strong” organic growth in its current operating profit, still only driven by the exceptional growth of the first half, recalled Rémy Cointreau. The group also expects an organic improvement in its current operating margin in 2021/2022.
Management says it is “confident” for the 2022/2023 financial year, the group believing that it is “perfectly positioned” to take advantage of new consumer trends. In particular, it forecasts a strong start to its activity in the 1st quarter despite a very high comparison base and a context still marked by the pandemic in China…
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