Q4 2021 Remy Cointreau SA Corporate Sales Call Transcript
Hello, and welcome to the Rémy Cointreau Full Year Sales 2020 and '21 Call. My name is Molly, and I'll be your coordinator for today's event. (Operator Instructions)
I would now like to hand the call over to your host, Luca Marotta, CFO, to begin. Thank you.
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Good morning, everyone. Thank you for your participation to the Rémy Cointreau conference call for its full year sales 2021 covering the period from April 2020 to March 2021.
This morning, we have 4 messages to highlight. The first one, we have to say a word on the global context in which we operate in during the fiscal year. Nothing very new there, but it's hard to present our figures without reminding everyone what the COVID-19 pandemic meant for us over the past 12 months.
First, overall, it translated into a shortfall in our duty-free sales, which accounted for around 10% of our total sales pre-COVID, along with the international airline traffic. Second, the on-trade channels, which accounted for about
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