Rémy Cointreau is aiming to boost operating profits by €100m over the next three years and return the struggling spirits group to sustainable growth under its turnaround plan.
CEO Franck Marilly unveiled the five-point transformation plan in April with a mission to reignite growth in cognac, improve efficiencies in distribution and centralise procurement.
This morning, as the group reported its full-year results, Rémy pledged to generate about €100m in value creation by 2028/29 and added it expected a return to sustainable organic sales growth in 2026/27.
Rémy has struggled over the past three years as the industry faced a sector-wide downturn, with sales of cognac hit particular hard in China. Tariffs in its two largest markets – the US and China – have compounded Rémy’s problems.
Revenues fell 5% to €935.3m in the year to 31 March, with the majority of the decline coming from currency movements. The group registered organic growth of 0.2% during the year, in line with expectations.
Sales in its cognac division slipped 0.5% to €141.5m as an 8% rise in volumes was offset with a similar fall in prices. A strong performance in the Americas was also held back by ongoing challenges in China.
Group operating profits dropped by 11.5% to €165.4m, which was slightly ahead of market consensus.
“In a persistently complex macroeconomic and geopolitical environment, we delivered a 2025/26 performance in line with our objectives, driven by tangible progress on our key priorities: stabilising the business, preserving profitability, and improving cash generation,” Marilly said.
“In this year of transition, we have won several key battles: our brands are regaining ground in the United States, Rémy Martin is strengthening its leadership and market share in China, and our Travel Retail business is gradually recovering, with the aim of doubling in size within three years.
“At the same time, we have continued to reduce overhead costs while maintaining investment in our brands.
“In 2026/27, despite limited visibility, our determination remains unwavering. We will continue strict execution of our priorities: accelerating the growth of our non-cognac brands, seizing every opportunity in cognac to rebuild momentum, and strengthening our positions in the United States and China, while identifying new growth drivers and leveraging innovation.”
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