Remy Cointreau (WBO:RCO)
€ 63.5 1.05 (1.68%) Market Cap: 3.26 Bil Enterprise Value: 3.90 Bil PE Ratio: 20.02 PB Ratio: 1.75 GF Score: 53/100

Q1 2021 Remy Cointreau SA Corporate Sales Call Transcript

Jul 21, 2020 / 07:00AM GMT
Operator

Good day, and welcome to the Rémy Cointreau Q1 Sales '20/'21. Today's conference is being recorded. At this time, I would like to turn the conference over to Luca Marotta. Please go ahead, sir.

Luca Marotta;my Cointreau SA;CFO

©-

Good morning, everyone. Thank you for your participation to the Rémy Cointreau conference call for its first quarter sales '20/'21, so covering the period from April to June 2020.

Today, we have 4 key messages to highlight. The first one, which is our performance during the first quarter. Clearly, obviously, the COVID-19 pandemic strongly impacted our business, as the on-trade channel was closed in most markets and we faced selective restriction of spirits sales, and we suffered collapse in the duty-free sales, along with the global airline traffic. Besides, these weak sell-out trends were amplified by some destocking actions decided by our wholesalers. As a result, our organic sales declined by 33.2% in Q1.

With that said, with this negative performance, minus 33%, and that's my

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot