Report
Fatma Agnès Hamdani

Rémy Cointreau : Un discours confiant mais valorisation tendue. Neutre conservé avec un OC ajusté à 110€

>Résultats 2017/18 proches des attentes avec une croissance organique de d’EBIT plus élevée de +14.1% vs cons.+12.9% - L’EBIT courant 2017/18 est ressorti en ligne à 236.8M€ (vs 237.7M€e et cons. 235.5M€). L’impact change est un peu plus important que prévu à -18.5M€. La croissance organique de +14.1% qui est plus élevée qu’estimée (cons +12.9%), boostée par le cognac +18.8%( vs cons +17%). L’EBIT des Liqueurs et Spiritueux est en recul de -16.4% en organique (vs cons...
Underlying
Remy Cointreau SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Fatma Agnès Hamdani

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