(BFM Stock Exchange) – The group of spirits exceeded expectations in the first quarter, thanks to very strong growth in its cognac sales in the United States. Rémy Cointreau takes advantage of this publication to identify its objective of operating income current after the agreement made with the Chinese authorities on the Cognac prices.

In recent years, the spirits sector has clearly not been at the feast on the stock market, undermined by the weakness of demand in China and the United States, to which have been added threats to customs surcharges. Rémy Cointreau was on the front line of these opposite winds, with an action which dropped by more than 70% over three years.

But for a few weeks, the group specializing in liqueurs and the Cognac has found its superb on the stock market. The action has increased by more than 40% over a month, ragaillaria, among other things by an agreement with the Chinese authorities to avoid heavy customs from European brandy exports.

Rémy Cointreau had indicated that the terms of this agreement would lead him to update his annual profitability objectives. Thing done this Friday, July 25.

The company indicated that its current operating profit would go back into comparable data between 5% and 9% (“Mid-to-High-Single-Digit”). This is much less than the previous prospects which anticipated a drop between 15% to 20% (“mid-to-high-teens”).

Rémy Cointreau has adjusted its hypotheses of maximum costs linked to pricing policies in China, and in the United States, to 45 million euros this year, against 65 million euros previously.

A first quarter higher than expectations

The group has drastically revised downwards the impact of the minimum prices for Chinese imports to 10 million euros, much less than the 40 million euros previously feared. At the same time, Rémy Cointreau reported to 35 million euros the costs linked to American customs duties, based on a rate of 30%.

This ledge increase comes after Rémy Cointreau announced growth in its sales in the first quarter of its 2025-2026 quirky exercise. Over the period, turnover increased by 1.8% over one year, in data published at 220.8 million euros. In comparable data, the activity believes 5.7%.

The group of spirits outcrops the expectations that were housed at 213.9 million euros for turnover and 2.3% for growth in comparable data, according to a consensus quoted by the independent AlphaValue design office.

Rémy Cointreau attributes this performance to a rebound in the “liqueurs and spirits” division, with a turnover of 86.2 million euros, an increase of 17.3% on a constant perimeter. This division explodes the consensus quoted by AlphaValue which tapped on a turnover of 78 million euros, and growth of 5.8 % on a constant perimeter.

“This growth was supported by a comparison base favorable to the United States, which represent 42% of sales, and by a sequential improvement (from one quarter to the other, editor’s note) of stocks. However, challenges persist in the APAC region (Asia-Pacific), in particular in Hong Kong, Macao and Taiwan, key markets for Rémy Cointreau. (Europe, the Middle East and Africa) which represents 23 % of sales, the conditions have improved, in particular in the segment of liqueurs and spirits “, details the design office.

Another good news, the Cognac division has returned to growth. The turnover of this activity increased by 1.3% on a constant scope, to 131.3 million euros. There too, Rémy Cointreau goes beyond consensus which tapped on an increase of 0.5% on a constant perimeter.

UBS notes that depletion (clearly the sales of spirits of spirits sold by a wholesaler to a distributor, the demand downstream, as opposed to the sales of Rémy Cointreau to a wholesaler, editor’s note) increased by 10% in value in the first quarter in China, which constitutes a positive sign.

At the end of this quarter, Rémy Cointreau anticipates, for 2025, a return to organic growth in its turnover, (“Mid-Single-Digit”), that is to say 5%. This recovery will be fed by a “strong technical rebound” of sales expected in the United States.

On the Paris Stock Exchange, these announcements are praised with a title that jumped 6% around 3:30 p.m.