Q2 2020 Remy Cointreau SA Corporate Sales Call Transcript
Good day and welcome to the Rémy Cointreau First Half Sales 2019/2020 Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Luca Marotta, Chief Financial Officer. Please go ahead, sir.
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Good morning, everyone. Thank you for your participation in the Rémy Cointreau conference call for its first half sales 2019/2020, covering the period from April to September 2019.
Today, 4 key messages to highlight. The first one, sales at a global level are down 3.6% in H1 on an organic basis. As you all know and as expected, this is largely due to technical factor that decreased sales by EUR 31.2 million in H1 or 5.9 point of growth. These factors were the voluntary termination of distribution contract in Czech Republic, Slovakia, further to the disposal of our distribution in subsidiary in those market and the termination of distribution of Piper Sonoma in the U.S.
Now looking at our Group Brands' performance. Organic sales
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