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Rémy Cointreau (RMC) investor relations material

Rémy Cointreau H1 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 25/26 earnings summary27 Nov, 2025

Executive summary

  • Organic sales declined 4.2% year-over-year to €489.6 million in H1 2025-26, with Cognac down 7.6% and Liqueurs & Spirits up 4.1%; current operating profit (COP) fell 13.6% organically to €108.7 million, and net profit dropped 31.3% as reported to €63.1 million, with EPS at €1.22.

  • Americas showed strong organic sales growth (+12.8%), while APAC (-14.8%) and EMEA (-9.2%) declined; Cognac underperformed in Asia-Pacific, especially China, while Liqueurs & Spirits grew in the Americas.

  • The group is undergoing a strategic transformation, with a new CEO appointed in June 2025, focusing on agility, brand strategy, cost discipline, and innovation.

  • Five key levers for performance have been identified: organization adaptation, commercial resource rebalancing, brand DNA expression, value-driven strategy, and investment model reevaluation.

  • Portfolio review and innovation pipeline are prioritized, with launches targeting convenience, affordability, and cocktail culture.

Financial highlights

  • Gross margin decreased by 2.4 percentage points to 68.0% of sales; COP margin dropped 2.7 points to 22.2%.

  • Net profit group share was €63.1 million, down 31.3% as reported; EPS at €1.22, down 32.6%.

  • Free cash flow was negative at -€16.5 million, an improvement from -€35.6 million in H1 2024-25.

  • Net financial debt increased to €686.7 million, with net debt/EBITDA ratio at 2.96.

  • Dividend of €1.5 per share was approved, partially paid in shares.

Outlook and guidance

  • Full-year organic sales growth expected to be flat to low single digit; COP to decline by low double digit to mid-teens.

  • Tariffs and customs duties estimated to impact COP by €25 million; negative forex impact of €50–60 million on sales and €25–30 million on COP.

  • Sustained investments planned in China and the US to support recovery; strategic reset and midterm roadmap to be presented by November.

How will increased Net Debt/EBITDA impact investments?
What strategies drive L&S growth in APAC?
How will pricing agility mitigate customs duties impact?
What is the expected gross margin impact of new pricing?
How will 2.96x net debt-to-EBITDA influence strategy?
Assess Cognac inventory levels given market volatility?
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H2 25/264 Jun, 2026
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Frequently asked questions

One of Europe’s liquor giants

With their international portfolio of brands like Rémy Martin, Cointreau, Mount Gay Rum, and Louis XIII, Remy Cointreau is a French, Family-owned business with almost 300 years of history. Their flagship product is Rémy Martin, the second most popular cognac in the world, behind LVMH’s Hennessey.

The France-based company has recently focused on streamlining its business and switched to its best-selling and most profitable cognacs, champagnes, and wines. This path has led the group to become one of the largest drink groups in Europe.

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