Remy Cointreau : The conf call on FY 2023-24 sales provides no more visibility on FY 2024-25e
>Outperform rating maintained with an unchanged target price of € 125 - We maintain our Outperform rating on the share with an unchanged target price of € 125. The FY 2023-24 results publication closes the chapter on a very strong fall in sales (-19.2%). In addition, although the conference call to present FY 2023-24e sales did not provide any more visibility on China and the US, the return to growth for cognac in Q4 2023-24 (+15% l-f-l) as well as the prospect of a r...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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