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 b...
RÉMY COINTREAU - NEUTRAL | EUR197(+3%) Sales should unsurprisingly decline in Q4, but confidence for FY23 prospects Americas and APAC led the growth Cointreau and The Botanist enjoyed very significant sales growth in Q3 Significant price mix impact on 9m but sales decline expected in Q4 Neutral recommendation unchanged
RÉMY COINTREAU - NEUTRAL vs. SELL | EUR197 VS. EUR176 (+5%) Recommendation upgrade after recent share price weakness and earnings lift Q3 sales expected to grow 18.4% organically FY sales to gain 27.6% FY 22-23 earnings lifted by almost 5% Recommendation upgrade from sell to Neutral
RÉMY COINTREAU - SELL | EUR145 VS. EUR135 (-18%) FY 22 guidance seems too cautious Another reassuring sales release among luxury-spirits groups Official guidance of FY mid-single digit sales growth is too cautious TP from EUR135 to EUR145
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
RÉMY COINTREAU - SELL | EUR135 VS. EUR128 (-21%) Strong sales growth likely in FY22, but significant investments will limit margin expansion Recurring EBIT should be up 12% organically 2021/22 sales booming, driven by US Slight EBIT margin in 2021/22, as A&P will be much stronger Target Price from EUR128 to EUR135
RÉMY COINTREAU | SELL | EUR128 FY 2020/21 sales in line with expectations, EBIT should increase by 10% 15% sales growth in Q4, as expected slower than Q3 momentum Remy Martin slowdown in Q4, but rebound very likely in Q1 FY22 Liqueurs trend healthy in Q4 and Q3 10% organic growth expected for FY 21 EBIT
RÉMY COINTREAU - SELL | EUR128(-21%) Likely slowdown in Q4 sales should be caught up in Q1 FY 22 Q4 sales expected to slow vs exceptional Q3 performance FY 21 EBIT expectation unchanged. Start of FY 22 very dynamic Sell recommendation maintained
RÉMY COINTREAU - SELL | EUR119(-21%) China and the US as the main positives H1 EBIT margin down 190bp in organic terms Dynamism of the US and China, accounting for 55% of group’s sales 1% organic sales growth expected for the full year
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