Rémy Cointreau (RMC) Q3 2026 TU earnings summary

Executive summary

• Q3 organic sales grew 2.8% year-over-year, marking a return to growth after prior declines, driven by strong performance in the U.S. and EMEA, while APAC and China faced challenging conditions and negative calendar effects.

• Nine-month sales reached €735.4 million, down 6.6% reported and 1.9% organic year-over-year, with a 4.7% negative currency impact.

• Guidance for full-year organic sales remains stable to low single-digit growth, with operating profit expected to decline by low double to mid-teens, factoring in tariffs and price undertakings.

• Transformation program underway, with external consultants engaged to identify value-creation levers for deployment in 2026-27.

Financial highlights

• Q3 sales: €245.8 million, down 3.3% reported but up 2.8% organic year-over-year; nine-month sales: €735.4 million, down 6.6% reported and 1.9% organic.

• Cognac nine-month organic sales fell 4.3% (volume +5.4%, price-mix -9.7%); Liqueurs & Spirits rose 3.7% (volume +5.7%, price-mix -2.1%).

• Negative currency translation reduced nine-month sales by €37 million, mainly due to weaker USD and RMB.

• Americas accounted for 39% of group sales, APAC 37%, and EMEA 24% at end of December.

Outlook and guidance

• Full-year organic sales expected to be stable to up low single digit; operating profit to decline low double to mid-teens.

• Currency effects expected to reduce turnover by €50-60 million and operating profit by €25-30 million, with volatility likely to persist.

• Additional customs duties to impact operating profit by €25 million, mainly in China and the US.

• Guidance unchanged from three months ago.