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Stock impact report

Estimated Initial Impact of The COVID 19 Pandemic on The Rémy Cointreau Group

REMY COINTREAU UNSP/ADR (REMYY) 
NASDAQ:AMEX Investor Relations: remy-cointreau.com/en/finance/publications
Company Research Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:With the evolution of the COVID 19 pandemic in the world since January 2020, and in particular in its main markets, Rémy Cointreau (Paris:RCO) estimates that its revenues for the 2019/20 fiscal year, ending March 2020, will decline by about 9% in reported terms, and by 12% in organic terms (at constant exchange rates and scope). These expectations imply an organic downturn of about 26% in the 4th quarter, despite an excellent start of the Chinese New Year celebrations in January and a good resilience of the e-commerce channel since the beginning of the epidemic in China.As a result, the group anticipates that its Current Operating Profit will decrease by 20% to 25% in reported terms and by 25% to 30% in organic terms, for the fiscal year 2019/20.The Group is currently witnessing some improvements in Greater China, where most shops have reopened, as well as some restaurants and bars. However, it anticipates its Chinese wholesalers to destock Show less Read more
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