Remy Cointreau : H1 operating margin more resilient than anticipated and the group anticipates a slight increase in underlying operating profit for the full year
>A positive reaction expected - The very recent underperformance from the stock (-9% vs SX3P over one month), the good resilience of the operating margin in H1 and guidance for a slight increase in underlying operating profit for 2020 should help to underpin the positive reaction of the market. The stock remains fully valued with a PER of 50x and EV/EBITDA of 25x for the current year. Whilst the polarisation of valuation multiples in the Food Beverage HPC sector might...Remy Cointreau is an operator in the global wines and spirits market. Co. produces, markets and distributes Cognac, Liquors and Spirits and other non-group brand alcoholic beverages. Co.'s primary cognac brand is Remy Martin, produced from Petite Champagne and Grande Champagne eaux-de-vie. Co.'s principal liquor and spirits include the following brands: Cointreau, Passoa, Metaxa, St Remy, and Mount Gay. Co. also operates a distribution network that handles products from partners and third-party companies. Major non-group products distributed by Co. include Scotch Whiskies (Edrington brand), Champagne (Piper-Heidsieck and Charles Heidsieck brands) and Vodka.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.