Bryan Garnier - Remy Cointreau SA (RCOP.PA) RÉMY COINTREAU - SELL | EUR121(-16%) Cognac surprising positively

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Bryan Garnier

Virginie Roumage

RÉMY COINTREAU - SELL | EUR121(-16%) Cognac surprising positively

RÉMY COINTREAU - SELL | EUR121(-16%)
Cognac surprising positively

Group organic sales up 25.1% in Q3
Rémy Martin booming
Liqueurs & Spirits improving too
No change in estimates before the call at 9am CET

22/01/2021 3 EN

Underlying

Remy Cointreau SA

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Virginie Roumage

Other Reports on these Companies

Bryan Garnier

RÉMY COINTREAU | NEUTRAL | EUR210 VS. EUR205 Short term upside into Q1 sales

Remy Cointreau enjoys many positive catalysts. Beyond underlying growth in the spirits markets, Remy Cointreau is well positioned through its high-end brand portfolio enabling it to outperform the premium sprits segment. We are optimistic for Q1 2022/23 sales growth as we anticipate a 20% organic revenue increase, driven by a positive effect from both volumes and value. Remy Martin (72% of group sales) should lead this growth. Furthermore, given recent weakness in the EUR, FX is set to provide be a clear tailwind for Q1 and probably for FY 2022/23. We are also quite confident in FY 2022/23 sal...

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Bryan Garnier

RÉMY COINTREAU: Confidence of the management for the current year | NEUTRAL | EUR205

RÉMY COINTREAU - NEUTRAL | EUR205 Confidence of the management for the current year 210bp EBIT margin gain in FY 2021/22 FY 2023 sales growth should be boosted by new price increase Neutral recommendation reiterated

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Bryan Garnier

RÉMY COINTREAU NEUTRAL | EUR197 FY sales in line with expectations. Strong growth in FY EBIT not quantified at this stage

º Q4 sales in line with expectations FY 21/22 EBIT set to “grow very strongly”, but management has provided no precise figures Neutral recommendation reiterated

May 2, 2022 May 2, 2022 1 EN

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We update our financial model after Onward medical released FY 2023 results last week The rating remains unchanged with a Buy recommendation and EUR 20 PT.

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Hugo Boss: Weak China and month of April spoilt the mood

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RÉMY COINTREAU - SELL | EUR121(-16%) Cognac surprising positively

RÉMY COINTREAU | NEUTRAL | EUR210 VS. EUR205 Short term upside into Q1 sales

RÉMY COINTREAU: Confidence of the management for the current year | NEUTRAL | EUR205

RÉMY COINTREAU NEUTRAL | EUR197 FY sales in line with expectations. Strong growth in FY EBIT not quantified at this stage

Onward: Model Update

Hugo Boss: Weak China and month of April spoilt the mood

Egetis reports Q1, on track with US trial

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