just The Preview - Rémy Cointreau's Q2 & H1
Rémy will release its interim results tomorrow.
Remy Cointreau will release its consolidated second-quarter and half-year results tomorrow (26 November). The group reported first-half sales figures last month. Here, just-drinks takes a look at the highs and lows for the company in the six months to the end of September.
- In May, the parent family of Rémy Cointreau eyed full ownership of wine stopper and cooperage group Oeneo. The family already owns around 38% of the company.
- Later in the month, Rémy said it had lined up a EUR30m (US$38.7m) investment to increase the production capacity for its Cognac brand, Rémy Martin. Rémy Martin's site on the outskirts of Cognac has undergone a 4,200 square-metre extension and was expected to enter service this autumn.
- In a surprise move in June, Rémy agreed to sell Larsen Cognac to Finland's Altia Corporation just months after buying the Cognac house. The move was completed in September. Altia's CEO Antti Pankakoski would later tell just-drinks he was “extremely happy” with the purchase.
- Also in June, Rémy's Islay Scotch whisky unit, Bruichladdich, set up its own UK distribution company.
- In July, there was a change at the top as Luca Marotta was appointed CFO, ready to step into Frédéric Pflanz's show when he moves to CEO.
- In August, Rémy issued EUR65m (US$86.3m) worth of ten-year bonds.
I'm calling it, people. Today is the day that I feel confident enough to conclude that the China 'crisis' is not a blip....
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