Rémy Cointreau has released its Q1 results for the 2025–26 fiscal year, highlighting a complex but strategically aligned performance across global markets.
The Group reported sales of EUR 224.0 million, reflecting a sharp 25.2% decline on an organic basis, in line with expectations. This drop stems largely from ongoing destocking in the United States and a high base effect from the previous year.
Despite these headwinds, the Group maintains its confidence in its premiumisation strategy and long-term vision, reaffirming its full-year guidance for FY 2025–26.
Key Segment Highlights
Cognac Division
Cognac sales stood at EUR 150.5 million, down 33.3% organically, driven predominantly by continued weakness in North America, particularly the US, which is undergoing a significant distributor inventory reset. However, Europe, Middle East & Africa (EMEA) and Asia Pacific regions showed positive momentum, notably with strong growth in China and tourist-driven consumption in Japan.
Liqueurs & Spirits Division
Sales reached EUR 61.7 million, recording 3.5% organic growth. This division benefited from resilient performance across all regions, with solid momentum in Japan, China, and EMEA. Brands such as Cointreau and The Botanist gin continued to perform well, affirming their global appeal.
Partner Brands
Revenue from Partner Brands fell by 27.3% to EUR 11.8 million, as the Group scales down this segment in line with its strategy to prioritise its proprietary brand portfolio.
Strategic Outlook
Rémy Cointreau reaffirmed its FY 2025–26 guidance, anticipating a low single-digit decline in organic sales for the year. The Group remains focused on brand elevation, price discipline, and value creation, with plans to achieve positive organic sales growth in H2 2025–26. This recovery is expected to be led by:
- A return to consumption-driven dynamics in the US
- Sustained momentum in EMEA and Asia
- Continued investment in brand equity and innovation
Furthermore, the company confirmed its confidence in achieving a sequential improvement in gross margin, supporting operating leverage over the medium term.
Commentary
In a statement accompanying the results, Rémy Cointreau underscored its commitment to long-term value creation over short-term volume, noting that the current transition period is necessary to build a more premium, sustainable brand portfolio. While short-term headwinds persist, the Group's investment in brand equity and disciplined execution lays a foundation for resilient future growth.
Source: Rémy Cointreau