Remy reported H1 EBIT which missed the already-lowered consensus expectations (€138.3m vs. €144.6m expected), mainly due to the higher than expected holding company’s costs. External factors (HK protests and unusual replenishment in the US) have penalised the group, and we are now convinced that it should report less bright FY results than last year. Improvements are expected in H2, and particularly in Q4 as Q3 should remain highly linked to the volatile macro environment.
28 Nov 2019
Improvements are expected in H2 to offset quite weak H1
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Improvements are expected in H2 to offset quite weak H1
Remy Cointreau SA (RCO:WBO) | 0 0 1.4% | Mkt Cap: 5,449m
- Published:
28 Nov 2019 -
Author:
Laura Parisot -
Pages:
3
Remy reported H1 EBIT which missed the already-lowered consensus expectations (€138.3m vs. €144.6m expected), mainly due to the higher than expected holding company’s costs. External factors (HK protests and unusual replenishment in the US) have penalised the group, and we are now convinced that it should report less bright FY results than last year. Improvements are expected in H2, and particularly in Q4 as Q3 should remain highly linked to the volatile macro environment.