Q4 2020 Remy Cointreau SA Corporate Sales Call Transcript
Good day, and welcome to the Rémy Cointreau Full Year Sales 2019-2020. Today's conference is being recorded. At this time, I would like to turn the conference over to Luca Marotta. Please go ahead, sir.
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Good morning, everyone. Thank you for your participation to the Rémy Cointreau conference call for its full year sales '19/'20, covering the period from April 2019 to March 2020. First and foremost, we hope you and your families are all safe and healthy.
This morning, we have 3 main messages to highlight. First message. This year has been a challenging year for the group. Sales are down 11.2% in organic terms for the full year. And as you all know by now, the main driver of this decline was the 68.7% decline of the Partner Brands division, which included a EUR 56 million sales loss from the voluntary termination of distribution contracts in Czech Republic, Slovakia and the U.S.
Now if we look into our Group Brands performance, organic sales were down 6.3% in the full year
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