The company’s primary engine, the Cognac division, saw a 7.7% organic sales jump, fueled by significant momentum in the Asia-Pacific region. Despite a challenging environment in China, the group’s execution during the 6.18 e-commerce festival yielded over 12% growth. While the United States market remained resilient with improved depletions, the group faced headwinds in Canada due to destocking and a difficult comparison base in Latin America.

In contrast, the Liqueurs & Spirits division recorded a 6.6% organic decline. Performance in the U.S. was hampered by an unfavorable phasing effect following a strong previous quarter, though core brands like Cointreau and The Botanist maintained positive depletion trends. The EMEA region continued to struggle with moderate consumer demand and aggressive promotional activity from rivals. Partner brand sales saw a sharp 47.9% drop, primarily tied to the discontinuation of distribution agreements in the Benelux market.

Looking ahead, management reaffirmed its 2026-27 objectives, projecting a return to sustainable organic growth and a slight improvement in the current operating margin. This forecast accounts for approximately 20 million euros in anticipated customs duties. The group aims to keep its leverage ratio below 3.5x by March 31, 2027, as it navigates a volatile global currency environment.