Q1 2020 Remy Cointreau SA Corporate Sales Call Transcript
Good day, and welcome to the Rémy Cointreau First Quarter 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, CFO. 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 Quarter Sales '19/'20 covering the period from April to June 2019.
Four key messages today to highlight. The first one is that the Q1 performance is in line with our expectation with the guidance provided. As a reminder, back in June, we had called for a slight decline organic sales growth for Q1. So now here we are. 3% organic sales decline in the first quarter. 2 main reason behind this performance. First, technical factors. The decreased sales by EUR 12.5 million in Q1 or down points 5.6 point of growth. These factors were the termination distribution contract in Czech Republic and Slovakia further to the disposal of our distribution
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