Remy Cointreau: an analyst's views after results

(CercleFinance.com) - The share price is down nearly 1% today, after rising almost 3% yesterday following the announcement of H1 2024-25 results.


UBS confirms its Neutral rating on the stock, with an unchanged target price of E65.

Although H1 EBIT is 10% above consensus, the outlook for FY25 implies a downgrade of -8% to -17% on the current EBIT consensus, with medium-term targets unchanged, UBS says.

The share price reaction is driven by positive comments on the recovery after sequential exhaustion, the broker adds.

Rémy Cointreau anticipates an organic decline in 2024-25 sales between -15% and -18%, and a current operating margin of between 21% and 22%, in organic terms.

The group reiterates its financial targets for 2029-30: a gross margin of 72% and a Current Operating Margin of 33% (based on 2019-20 exchange rates and consolidation scope).


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