Half Year 2024 Remy Cointreau SA Corporate Sales Call Transcript
Hello, and welcome to the Rémy Cointreau H1 sales publication. My name is Natalie, and I'll be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions)
I will now hand you over to your host, Luca Marotta, CFO, to begin today's conference. Thank you.
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Good morning, everyone. As you've seen in the press release, H1 sales were down minus 22.2% in organic terms, including a decrease of minus 10.8% in the second quarter. Even if Q2 sales have shown a sequential improvement compared to the Q1, this is not enough and below our expectation. This performance has been mostly impacted by the Americas, where the recovery is slower than expected. In parallel, the rest of the world grew at plus 13.8% year-on-year in H1. H1 sales decline is split between a volume decrease of minus 18.9% in H1 and minus 3.3% of price/mix effects impacted by the Americas region as a result of the strong Cognac's underperformance compared to the Liqueurs &
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