Stock Market Impact: Shares jumped more than 11% on Thursday following the FY26 results.
Listed Companies and Sectors: Rémy Cointreau (EPA:RCOP), a French spirits group, reported operating profit and adjusted earnings ahead of forecasts.
Financial Highlights: Operating profit €165.4 million (‑23.8%) beat consensus €163.0 million; adjusted net income €89.2 million and EPS €1.71 topped expectations; net profit €78.7 million fell 35.1% missing €82.4 million consensus; sales €935.3 million down 5% reported, up 0.2% organically; currency drag 5.2 pp; gross margin 65.8% (‑3.7 pp organic); division results: Cognac OP €141.5 million (‑12.6% organic), margin 24.7%; Liqueurs & Spirits OP €43.1 million (‑3.1% organic) vs €51.2 million estimate.
Cash & Leverage: Free cash flow €53.8 million, cash conversion 27% vs 10% prior year; net debt/EBITDA 3.22× (up from 2.40×) better than consensus 3.29×.
Guidance FY27: Target organic sales growth, slight margin improvement, leverage <3.5× net debt/EBITDA by March 2027; customs duty headwind €20 million; currency drag €15‑20 million on sales, €5‑8 million on operating profit.
Strategic Initiatives: Launched “RC Forward” plan aiming for €100 million gross value creation at FY2026 operating profit level by FY2029; medium‑term targets to be set November 2026.
Dividends & Analyst Views: Proposed ordinary dividend €0.75 per share (down from €1.50 FY2025); Morgan Stanley underweight, target €36; Jefferies maintains buy, target €48.
