Rémy Cointreau
Note: This is a daily stock update and the information stands true as of 04/06/25, 09:00 CET.
Company Update:
Expert Opinion:
Results were encouraging and the 25/26 guidance is actually better than our expectations. The company expects a strong Q1 (inventory build-up in the US) and an improvement in H2 due to an improved environment. Our analyst is still skeptical about the expected H2 improvement and sees the guidance as a bit optimistic. In all, despite the massive drop in share price, our expert still believes it is too early to buy the dip. Momentum is expected to remain adverse for the short term (beyond the technical bounce in Q1 sales). Situation with the US and China is still a drag on the equity story.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
Company Update:
- FY Sales was published two weeks ago at €984.6m.
- Consolidated Operating Profit (COP) reached €217m, slightly above the consensus of around €214m.
- Net profit totaled €121.2m, slightly below the expected €123.8m.
- Net debt to EBITDA ratio stood at 2.4x, better than the consensus estimate of 2.6x.
- FCF rose 39% year-over-year to €19.2 million.
FY 25/26 guidance: Organic growth at mid single digit; Operating Profit expected to grow between high single digit and low double digit, even with a €65m impact from tariffs.
FY29/30 guidance was pulled, probably because of the departure of the CEO that was announced last week.
Results were encouraging and the 25/26 guidance is actually better than our expectations. The company expects a strong Q1 (inventory build-up in the US) and an improvement in H2 due to an improved environment. Our analyst is still skeptical about the expected H2 improvement and sees the guidance as a bit optimistic. In all, despite the massive drop in share price, our expert still believes it is too early to buy the dip. Momentum is expected to remain adverse for the short term (beyond the technical bounce in Q1 sales). Situation with the US and China is still a drag on the equity story.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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Alphavalue Morning Market Tip
Estimates adjusted down - Valuation remains too high.
