Rémy Cointreau: Consolidated Sales for the 12 Months

  Rémy Cointreau:Consolidated Sales for the 12 Months

                          (April 2012 – March 2013)

                          A 16.3% increase in sales

Business Wire

PARIS -- April 18, 2013

Regulatory News:

Rémy Cointreau’s (Paris:RCO)consolidated sales for the financial year ended
31 March 2013 were €1,193.3 million, an increase of 16.3% (up 8.8%
organically). Group brands increased by 18.6% (up 10.3% organically). This
performance is even more remarkable in that it was achieved on the back of
double-digit growth the previous year.

Over the 12 months, the foreign exchange effect was a positive 6.8%, whilst
changes in the Group’s structure, related to acquisitions, were a positive
0.7%. The organic growth of 12.4% in the fourth quarter exceeded the full-year
average, due to the favourable effect of a later Chinese New Year.

The US and Asia maintained their double digit growth. Europe, despite a mixed
economic environment, also contributed to this performance.

Jean-Marie Laborde, Chief Executive Officer, commented:

“This performance confirms the Group’s strategic orientation initiated over
the last few years. Our results were driven by the move upmarket of the entire
brand portfolio, innovations supported by targeted investment and the
expertise of our worldwide distribution network.

“During the financial year we have, once again, consolidated our positioning
and reaffirmed our high value and long-term strategy.”

Divisional analysis:

(€ millions)             12 months   12 months   % Change
                        to 31.3.13  to 31.3.12  Published  Organic*
Rémy Martin              719.7        592.5        21.5       12.7
Liqueurs & Spirits       239.1        215.8        10.8        3.9
Sub-total - Group brands 958.9        808.3        18.6        10.3
Partner Brands           234.4       217.8       7.6        3.0
Total                    1,193.3     1,026.1     16.3       8.8
                                                               

*on a like-for-like basis

Rémy Martin achieved double-digit organic growth for the fourth consecutive
year, an increase of 12.7% (up 21.5% as published). The Group’s ongoing policy
of moving upmarket, the pricing policy, combined with high quality innovations
as well as a more modest increase in volumes, in line with our long-term
objectives, all contributed to this good result.

Asia and the Americas were the main drivers of Rémy Martin’s growth. In the
Europe/Africa region, growth was driven by Russia and Western Europe where
sales also increased, particularly in the UK.

Liqueurs & Spirits – The entire division increased 3.9% organically (up
10.8%). The increase was enhanced by Bruichladdich’s integration within the
division’s portfolio from 1 September 2012.

Cointreau achieved a strong full-year performance with 7% growth, thanks, in
particular, to expansion in the US supported by increased marketing
investment. The brand reported good results in Western Europe, driven by
Benelux and the UK.

Despite a continued challenging economic situation in Greece, Metaxa grew in
its markets with high potential (Eastern Europe). Sales of Passoa and St Rémy
also increased.

Partner Brands – The growth in brands distributed on behalf of our partners
was primarily driven by Scotch whiskies in the US. The worldwide refocus on a
high value strategy, initiated more than a year ago by Piper-Heidsieck
champagnes is bearing fruit, particularly in the US, despite the difficult
economic climate in Europe. The relaunch of Charles Heidsieck champagnes met a
positive welcome in the markets.

Rémy Cointreau will focus on achieving estimated growth in current operating
profit of around 10% on a like-for-like basis, and above 15% as published.

In a worldwide economic environment which is still disrupted, particularly in
Europe, but nevertheless remains favourable for the premium spirits industry,
Rémy Cointreau remains true to its long-term high value strategy. The Group
will continue to rely on its very high quality brands, the dynamism of its
distribution network and its strict cost control.

Appendix attached

                                   APPENDIX

REMY COINTREAU - Divisional and quarterly analysis of growth in organic sales

2012/13 Financial Year                                           
                                                              
(€ millions)             Rémy Martin  Liqueurs &  Partner Brands  Total
                                        Spirits
First quarter             173.8         50.3         47.6             271.7
Second quarter            202.3         63.0         58.8             324.1
Third quarter             213.4         70.9         84.3             368.6
Fourth quarter           130.2        54.9        43.7            228.9
Total sales              719.7        239.1       234.4           1,193.3
                                                                      
                                                                      
2011/12 Financial Year
                                                              
(€ millions)             Rémy Martin  Liqueurs &  Partner Brands  Total
                                        Spirits
First quarter             112.0         44.5         42.1             198.6
Second quarter            165.4         58.6         52.3             276.3
Third quarter             198.1         62.9         85.1             346.1
Fourth quarter           117.1        49.8        38.2            205.1
Total sales              592.5        215.8       217.8           1,026.1
                                                                      
                                                                      
2012/13 vs 2011/12
                                                              
Organic                                 Liqueurs &
                         Rémy Martin  Spirits     Partner Brands  Total
Growth
First quarter             37.8%         8.5%         5.4%             24.4%
Second quarter            8.0%          -0.4%        3.1%             5.3%
Third quarter             1.7%          2.9%         -4.2%            0.5%
Fourth quarter           13.9%        5.8%        16.7%           12.4%
Total sales              12.7%        3.9%        3.0%            8.8%
                                                                      

Contact:

Rémy Cointreau
Analysts:
Frédéric Pflanz, 00 33 1 44 13 44 34
or
Press:
Joëlle Jézéquel, 00 33 1 44 13 45 15
Caroline Sturdy, 07775 568 500
 
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