I write this first message as Chairwoman of the Rémy Cointreau group with determination and confidence.

I am obviously very proud to follow in the footsteps of my mother, Dominique Hériard Dubreuil, and my uncles, François Hériard Dubreuil and Marc Hériard Dubreuil, as Chairwoman of the Group. They have shown total commitment to our company over the years, and have set an inspiring example. My appointment is part of the generational transition of our family members on the Board of Directors, committed over the years to guaranteeing a smooth and productive changeover. This new generation, which I am pleased to represent today, will put all its energy into perpetuating our Maisons and their legacy, while upholding our values of “Terroir, People and Time” and the genetic make-up of our Group.

“This new generation will put all its energy into perpetuating our Maisons and their legacy.”

As well as striving to give value to what we have built over the centuries, we are determined to make this exceptional heritage flourish. To this end, the Group’s 2030 strategy is now shared and supported by all our stakeholders. Our 2022/23 results are in line with that strategy, through the efforts of our teams worldwide and we sincerely congratulate them on their inspiring collective work. Our Group is therefore very well positioned to approach the coming year… or – rather – the years to come, as our success is and will only be long term, sustainable and responsible for the Earth and its population.

Here, we are all confident about the future. Having had the chance to work for six years in the Rémy Cointreau group, in Paris and then in Singapore, I am fully aware of the strengths of our teams, the uniqueness of our Maisons and the loyalty of our clients. Today, the vision and action of the CEO, Éric Vallat, allow us to build on our strengths and emerging outlooks. We share a philosophy and principles of action which, while securing the Group’s knowledge base, give it the opportunity to look to the future and innovate.

Our portfolio has been beefed up and diversified (acquisition of champagne Telmont and Belle de Brillet pear liqueur and cognac in 2020, creation of Maison Psyché Haute Parfumerie in 2022).

We are also delighted with our performance in terms of sustainable development, with 80 million euros of investment committed over 10 years in 2020.

Our “Sustainable Exception” plan reflects our ambition to grow responsibly and share value with all our stakeholders, in line with our commitments to the United Nations as part of the Global Compact.

“Here, we are all confident about the future.”

Finally, the Group’s digital transformation continues to yield good results, on schedule to achieve the goal of 20% turnover in e-commerce by 2030.

But none of this would be possible without the Group’s employees. I would therefore like to express my gratitude to them for their unwavering dedication. Together, we uphold the Group’s legacy and, together, we are preparing to write a new chapter in Rémy Cointreau’s centuries-old history.

Finally, I would like to thank our shareholders for their trust and constant support of the Group’s strategy and development.

Double-digit growth, reopening of the Chinese market and normalization in the United States, highlights and innovations, CSR policy…
Éric Vallat takes stock of a financial year that validates the Rémy Cointreau group strategy.

HOW DO YOU VIEW THE PAST YEAR?
Despite a turbulent backdrop with the ongoing war in Ukraine, inflation and the rise in commodity prices, the Group achieved an exceptional year: 10% growth and a level of activity that has even exceeded the pre-pandemic period. This is, however, to be put into perspective with the normalization trend in our largest market, the United States, where spirits have experienced their biggest growth in 20 years. 2022 was the first year spirits surpassed beer. Elsewhere, liqueurs and spirits outperformed in all
regions, while cognac showed good growth supported by the recovery in China and Europe. Finally, we are ahead of schedule for some key indicators in our ten-year strategic plan, including gross margin and COP margin.

WHAT WERE THE GROUP’S HIGHLIGHTS IN 2022?
Firstly, the creation of Maison Psyché, an exclusive and confidential Haute Parfumerie Maison. It brings together blending and ageing expertise specific to the world of spirits to enhance the noblest perfumery ingredients and create exceptional fragrances. Secondly, there was Rémy Martin’s first participation in the Super Bowl, the largest televised sports event in the United States.
The brand took that opportunity to reveal its advertising campaign featuring world tennis icon Serena Williams.
Thirdly, we celebrated the anniversary of Cointreau l’Unique, with an original and innovative bottle design made from two-thirds recycled glass. And finally, the year marked the reopening of China, which is one of our key development markets.

LOOKING AHEAD, WHAT IS THE OUTLOOK FOR RÉMY COINTREAU IN 2023/2024?
The coming financial year will put the spotlight firmly on Maison Rémy Martin which will celebrate its threehundredth anniversary in a series of major events, throughout 2024. More generally, we are going into the year fully mobilized on and paying particular attention to developments in the United States market. The teams are focusing efforts on the four pillars of our 2030 strategy: increasing value, implementing our buyer-centric model, driving forward the value and desirability of our liqueur and spirits brands, and finally our commitment to responsible growth.

HOW ARE THE GROUP’S COMMITMENTS IN TERMS OF CORPORATE SOCIAL RESPONSIBILITY EVOLVING?
The CSR roadmap is a central part of our corporate purpose and one of the pillars of our 10-year strategic plan. Our philosophy of informed and responsible drinking guides each of our decisions and has made us pioneers in the “Drink less but better” trend. Among
the breakthroughs made by our brands, Telmont is gearing up its experimentation phase with lightweight bottles to 30,000 units, which will ultimately make a significant impact on the brand’s CO2 footprint. Mount Gay rum, St-Rémy brandy and Belle de Brillet liqueur bottles have also been reduced in weight. I also welcome the approach of Rémy Martin VSOP, which, like Cointreau, uses twothirds recycled glass in the design of its bottles. Finally, I would like to highlight the action of the American and Chinese markets which have developed awarenessraising days and concrete actions with all their employees.

WHAT HAS BEEN YOUR PROUDEST ACHIEVEMENT THIS FINANCIAL YEAR?
Most definitely the commitment of our teams. Witnessing their resilience in China during the long lockdown period; observing the ability of the Group and its employees to constantly push for greater sustainability; seeing everyone pursue excellence without compromising on our fundamental values: Terroir, People and Time.