Rémy Cointreau Strengthens Financial Flexibility With €80m Loan

By Dayeeta Das
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Rémy Cointreau Strengthens Financial Flexibility With €80m Loan

Rémy Cointreau has announced that it has taken a loan of €80 million through Crédit Agricole d'Ile-de-France as part of the ongoing optimisation of its financial structure.

The move will enable the group to strengthen its balance sheet structure by providing it with greater flexibility in implementing its long-term growth strategy.

Loan Details

The loan bears interest at a fixed rate of 0.60% per annum and offers a maturity of seven years, in keeping with Rémy Cointreau's desire to back its long-dated assets with appropriate financial resources.

Rémy Cointreau is thus extending the maturity of its debt and continuing to gradually reduce its average cost of funding.

The new financing, taken out at favourable terms, reflects the quality and financial strength of Rémy Cointreau, which is rated Baa3 by Moody's.


Financial Performance

The group recently reported sales of €645.3 million in the first half of its financial year, equating to organic growth of 52.0%, in what the group said was an 'excellent' performance.

It is anticipating that it will continue to 'outperform the exceptional spirits market' and post strong sales and profits, on the back of its solid first-half performance.

'Being ahead of its 2030 strategic plan and given the favourable environment, the Group reiterates its intention to meaningfully increase its communication spend this year, particularly in the second half, to support its brands through the recovery and boost their medium-term growth potential,' it said.

Last year, Rémy Cointreau posted an organic sales increase of 1.8% for the full year, with profits up 12.8%

© 2021 European Supermarket Magazine. Article by Conor Farrelly. For more Drinks news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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