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Rémy Cointreau has launched the "One Bottle for Eternity" project aimed at enhancing the circularity of its glass bottles to significantly reduce emissions. Three pilot programs will be initiated:
- Mount Gay in Barbados aims to reuse 30-40% of bottles, cutting CO2 emissions by 60% per bottle.
- Cointreau is partnering with ecoSPIRITS in the UK to reduce storage needs by 30-50% and glass waste by 95%.
- LOUIS XIII offers unlimited refills of its decanter in boutiques, extending its life.
The company targets a 50% carbon emission reduction per bottle by 2030 and Net Zero by 2050.
Rémy Cointreau (Euronext: RCO) has released its interim financial report for the six-month period ending September 30, 2022. The report is accessible online, detailing the company's performance and strategic direction. Rémy Cointreau aims to be the global leader in exceptional spirits, showcasing a portfolio that includes renowned brands like Rémy Martin and Cointreau. The company emphasizes its commitment to preserving its heritage while adapting to modern consumer demands. For further insights, stakeholders can access the full report through the provided link.
Rémy Cointreau reported strong financial results for H1 2022-2023, with consolidated sales rising to €867.1 million, a 21.1% organic growth. The current operating profit increased to €319.3 million, marking a 50% growth, and the operating margin improved to 36.8%. EPS reached €4.40, up 64.7%. The Cognac division reported substantial growth, while the Liqueurs & Spirits division faced challenges with a 15.8% decline in operating profit. Full-year guidance remains optimistic, anticipating a return to normal consumption levels.
On August 22, 2022, Rémy Cointreau announced its first international employee share ownership plan named My Rémy Cointreau. This initiative saw half of eligible employees participating, reflecting strong commitment to the company's future. CEO Eric Vallat expressed satisfaction with the high subscription levels, attributing it to employee confidence in long-term growth. Following the plan, 12,054 new shares were issued on October 27, 2022, increasing employee shareholding to 0.7% of the capital. The company aims to lead in exceptional spirits by 2030.
On September 30, 2022, Rémy Cointreau disclosed its share and voting rights structure. The company has a total of 51,550,495 shares and 78,876,166 exercisable voting rights. The theoretical voting rights amount to 79,641,274. This information is in compliance with Article L.233-8 II of the French commercial code and AMF regulations.
Rémy Cointreau reports strong sales growth in H1 2022-23, reaching €867.1 million, an organic increase of 21.1%, despite a high comparison base from H1 2021-22. Notably, Cognac sales surged 22.4%, with all regions contributing to growth. The Americas and APAC regions recorded respective increases of 21.1% and 21.7%.
Furthermore, the strength of the US dollar positively impacted sales by €110/120 million. The company remains confident in achieving its FY targets, focusing on brand development and sustained marketing investments.
The Shareholders’ Meeting of Rémy Cointreau, held on July 21, 2022, approved an exceptional dividend of €1.00 per share for the 2021-22 fiscal year. Shareholders could choose between cash or shares, with 67.6% electing shares. A total of 223,147 new shares will be issued at an issuance price of €155.72, representing 90% of the average share price over the preceding 20 trading days. The shares will be settled and delivered on October 3, 2022, while cash dividends for non-electing shareholders will also start on that date.
Remy Cointreau has reported its shareholder structure as of August 31, 2022. The total number of shares stands at 51,550,495. Additionally, there are 80,643,517 exercisable voting rights and 81,052,365 theoretical voting rights. This information is disclosed under Article L.233-8 II of the French commercial code, ensuring compliance with financial regulations.
Rémy Cointreau's Board of Directors has initiated a share buyback program, allowing the purchase of up to 1 million shares, representing 1.94% of its capital. This decision aligns with the resolutions passed at the Shareholders’ Meeting on July 21, 2022. The buyback aims to reduce share capital through cancellation of treasury shares, and to manage shares for potential acquisitions and employee incentive programs. The program is set to conclude by March 24, 2023, subject to market conditions.
On July 31, 2022, Remy Cointreau reported a total of 51,550,495 shares and 81,330,949 exercisable voting rights. The company also noted that the number of theoretical voting rights stands at 81,744,761. This information is disclosed in compliance with French commercial code and the regulations of the Financial Markets Authority (AMF).
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