Remy Cointreau : No sequential improvement in Q1 20 24-25e: what are the implications for the group in the medium term?
>We maintain our Outperform rating, with a TP of € 105 vs € 125 previously - The context did not improve in Q1 2024-25e. Momentum in the US and China (more than 60% of group sales) is struggling to pick up, prompting us to adjust our EPS estimates by -11% for FY 2024-25. We are therefore adjusting our TP to € 105 from € 125.The slide in the consensus expectations will likely continue. But given the level of uncertainty in China and the US and the group's valuatio...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.
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