Remy Cointreau %Reports 35 snowfalls, shares soar in hopes of recovery

Remy Cointreau SA reported a sharp decline in annual profit, but the result exceeded analysts' expectations; Increasing performance in the Americas helped offset the impact of tariffs on key markets, including the US and China.

Euro’'s strong performance against major currencies has made cognac and other liquors more expensive in global markets, while high production costs have also negatively impacted profit margins.

The group has struggled in recent years against U.S. President Donald Trump ’'s tariffs and retaliatory taxes imposed on Chinese ’'s imports of cognac.

In a statement, CEO Franck Marilly said “ had won several major battles in the ever-complicating macroeconomic and geopolitical environment.

Net profit, sales %From €121.2 million in the previous year to €78.7 million in the fiscal year to the end of March, €935.3 million dropped to ’, down 5 percent to €935.3 million.

Remy Cointreau, the current operating profit margin from ’ .7 He saw ’ fall; However, although the company expects U.S. and Chinese tariffs and the strong euro to ultimately put pressure on the margins for the current year, “ is predicting a slight improvement in ”.

However, the company's shares were on the rise with the opening of trades on the Paris stock exchange. Shares around 9:45 a.m. %It was trading at €42.12, up around 12.

This happened at a time when the French spirits group was trying to regain its market share in a challenging economic environment, with the company launching a three-year return plan designed to boost growth and strengthen its business model.

Under the RC Forward program, the company plans to expand in emerging markets and global travel retail, drive growth from its premium cognac portfolio, and increase operational efficiency.

The group said the plan is expected to deliver an additional operating profit of around €100 million and productivity gains by 2028-29’ compared to 2025-26’.

Referring to duty-free sales at airports, Marilly said in a statement that “Our brands are regaining ground in ’, Remy Martin China is strengthening its leadership and market share in ’, and our Travel Retail business is slowly recovering with the goal of doubling its size in three years.” said.

Analysts say rising tensions in the Middle East ’ could create more uncertainty for consumer goods companies if high energy prices continue to weaken spending.

For the next fiscal year, the company aims for a ​​moderate improvement in its current operating margin, as well as a return to organic sales growth.

The company, “Remy Cointreau, expects a return to sustainable organic sales growth in 2026-27’, and the momentum is expected to grow steadily over the year.” said.

Electric vehicles boost sales growth, while Chinese automakers double EU market share

AB’'s new car market continued to grow steadily in the first four months of 2026, with approximately 3.8 million vehicles registered, compared to the same period in 2025. %It increased by 4.2. This is according to data released on Wednesday by the European Automobile Manufacturers Association (ACEA).

The numbers point to a market increasingly dominated by electric and hybrid vehicles, thanks to government incentives in major economies and growing competition from Chinese automakers.

According to ACEA’, between January and April 2026, battery-powered electric cars will be .7Created ’sini; This rate compared to the previous year %It was 15.3’. The growth was mainly driven by the bloc's four largest markets; from Italy (+,5), Spain (+,7), Germany (+%6,6) and France (+%2.3) recorded a profit.

Only in April, battery electric vehicle sales in AB’ compared to the same month last year .7 increase in market share for the month %He went up to 20.6’.

Hybrid electric vehicles in April %It continued to be the most popular single powertrain choice with 12 increases, with monthly sales of approximately %He made up his 36.9’.

Category: Plug-in hybrids %Increasing by 16.4 on April records %He received a share of 9.8’.

On the other side of the notebook are gasoline vehicle registrations. creased by 16.3 to 218,500 units, while diesel vehicle registrations also declined %It declined by 17.1 to around 74,000.

Gasoline and diesel cars accounted for less than 30 percent of vehicles sold across the EU in April.

2026 performance of European ​​brands

Volkswagen Group retained its position as the bloc's largest automaker in the first four months of 2026, and %All new registrations with just over a million sales with an increase of 2.9 .7’sini formed.

However, performance varied across the group. Sales of ŠKODA %Audi increased by 15.5 %While it gained 8.6 percent in value, the main Volkswagen brand %With 3.2 losses, it lost value in many segments.

Stellantis, Fiat’taki For recovery and registrations over ’ increased Opel and VauxhallInfluenced by strong gains in ’ %With a strong increase of 7.8’ %It ranked second with a market share of 17.1 and more than 648,000’ units.

the Renault Group creased by 7.4 to approximately 384,250 units %With a market share of 10.1’, it was the group with the weakest performance in the top third; The Dacia is %It recorded a sharp decline of more than 15’.

BMW Group and Mercedes-Benz respectively %3.9 and %While earning 3.8 percent, Toyota and Hyundai Group %With a 2.5 %It recorded modest declines of 3.1.

The Chinese Fluctuation

The most important trend in April data was the continuation of the rise of Chinese car manufacturers.

According to ACEA figures, BYD’'s EU records have more than doubled year-on-year in the first four months of 2026’ %It increased by 152.9 to over 71,850 units.

Through the Chery Automobile, Omoda, Jaecoo and Jetour brands %Leapmotor, which distributes through its joint venture with Stellantis, increased by 267.1 to more than 48,350 units. %It increased by 558.8 to over 28,700 units.

SAIC Motor, which owns the MG brand and is the largest Chinese group by EU volume, %It increased by 10.4 to over 77,000 units.

Chinese brands have registered approximations of EU automobile registrations between January and April 2026. %6In the same period of the previous year, when forming the ’, this ratio %It was 3.2’. The total market share of Chinese brands in the wider European market, including the United Kingdom and EFTA countries, was %3.7’den during the same period roughly %Increased to 7.3’e.

Rheinmetall’in sales increase as defense demand continues to rise

GermanyRheinmetall, ’'s largest arms manufacturer, is in the defense business. %With the effect of the increase of 73’, sales in the first three months of the year %It reported an increase of 46 to 2.3 billion Euro’. The company also sells %He stated that 70’in were obtained from abroad and defense revenues increased to 1.8 billion Euro’.

The results revealed that after the suspension of US military aid in the Ukraine war, the demand for defense systems and weapons in Europe’ increased. Shares of the German arms manufacturer rose 1.5 percent at market opening, bringing earnings so far this year to 170’e. Germany’'s historic debt reform, which aims to increase defense and infrastructure spending, has contributed to better performance of European defense stocks in particular.

Improved market potential

Sales growth as Rheinmetall expects the pace of business development to continue throughout the year %From 25 to %He confirmed his forecast for fiscal year 2025, predicting that it will be between 30 and 2025. As noted in the special announcement on April 28, ’, the group said it could revise its annual guideline based on improving market conditions. ​​2024’ in the Group's operating result margin, including acquisitions ,2approximately in fiscal year 2025 compared to ’ %He expects a 15.5’ recovery.

“This outlook does not yet take into account the expected improvement in market potential in markets in Europe, Germany and Ukraine ’, which are particularly relevant to Rheinmetall’i as a result of geopolitical developments in recent weeks. Therefore, Rheinmetall will make the necessary guidance adjustments as the relevant requirements of defense customers become more specific throughout the year.”

Armin Papperger, chairman of the board of Rheinmetall AG’, commented: “Rheinmetall’e is needed; Customers are buying from us today. Europe must prepare itself for a new era in which we must confront with all our might the threat to our liberal values. Rheinmetall stands behind its responsibility in this groundbreaking period.”

“We must and we will. We are experiencing never-before-seen growth in the group, and we are getting closer to our goal of becoming global champions of defense. Collaborations for the future prove it. We also have promising projects in the US, UK, Italy and Ukraine, and we have a large number of large orders that will allow sales to increase further in the coming years. We are also greatly expanding our capacities through the construction of new facilities and strategic acquisitions.”

Increased profit from

Rheinmetall’in profit %It increased by 70 percent to earn €1.92 per share. Result of activity %The revenue from defence activities almost doubled to 206 million Euro’, up 49 percent to 199 million Euro’.

In particular, the Rheinmetall Candidate, an important metric for the company's defense business line, was awarded annually in the first quarter, referring to incoming orders and framework agreements with customers. 1 increased to 11 billion Euro’. The group attributed the increase primarily to orders from ’, Germany, and “ stated that it was primarily due to ”, a special fund for the German Armed Forces.

The accumulated order amount of Rheinmetall’ reached a new record of 63 billion Euro’ at the end of the first quarter, driven by many large contracts. This includes accumulated business resulting from ongoing agreements and framework agreements, as well as potential sales to civilian customers.

Sales of vehicle systems in other segments million euros increased to ’, while arms and ammunition revenues reached a new record of 599 million euros. Rheinmetall’'s candidacy for electronic solutions more than five times higher than last year, reaching €10 billion. However, due to sales of power systems, cyclical weakness in the automotive industry and consequent delays in project execution, %It declined 6.7 to 505 million Euro’.

Exporter Exports with Fear of Punishment

Çetin Tecdelioğlu, President of Istanbul Iron and Non-Ferrous Materials Exporters' Association (IDDMİB) and Hırdavat Sa ⁇ nayici and Businessmen's Association (HISİAD), drew attention to the danger bells that await both the sector they are in and the country's exports. Tecdelioğlu, who stated that the Turkish exporter could not keep a price not only in the Far East but also in the face of European competitors, lost the ⁇ Rus ⁇ ya and the Türk Cumhuriyetle ⁇ ri market to Çin ⁇ e. We have no chance to compete in undeveloped countries. Since the quality expectation is high in more developed countries than us, we cannot provide price competition.

The price of china is as much as our raw material price. The scissors in between said 50 ⁇ . According to Tecdelioğlu, who says that Turkey cannot compete with countries such as Italy and Poland, the reason for this is the exchange rate, which does not increase in parallel with inflation. Tecdelioğlu, who said ⁇ No profit left, we sell at a loss ⁇ , ⁇ Because I took a loan from the bank. In return, I made an export commitment. I have to take that sipa ⁇ riş to fulfill that commitment. Otherwise, we will be punished by the bank. Tecdelioğlu added that sa ⁇ nayici avoided investment due to the shrinkage of the sector.

⁇ Investment in Egypt finishes the industry in Turkey ⁇ ⁇

Reminding that many sectors from Turkey, especially textile, have invested in Egypt, Tecdelioğlu stated that investments have shifted especially in areas that do not require sub-industry. Tecdelioğlu noted that there are also outgoing investments in the hardware field, but that the production in this area, which requires sub-industry, will not be coke, and drew attention to a great risk.

Tec ⁇ delioğlu said: ⁇ A fab ⁇ rika would not be without sub-industry. Today the textile worker went to Egypt. But the technologist doesn't need sub-industry. Today, an automotive sector cannot go to Egypt and build a factory. It is not possible to invest in the hand tool sector Egypt ⁇ . There's no chipper. There's no sub-industry. It's not appropriate. But if our exporter invests in Egypt and tries to create his own sub-industry, then we will lose our industry.

⁇ Industrial clustering model according to provinces ⁇

Tecdelioğlu pointed out that instead of missing the industry to Egypt, Turkey should create its own industrial strategy, and if we do not have industrial strategy, we will miss the train. We need to get to the clustering mode. We should determine 81 sectors in 81 provinces and direct investments according to which sector stands out in which province. ⁇ said.

Tecdelioğ ⁇ lu, who also draws attention to the problem of qualified personnel in the industry, said that some companies that work on a world scale and have had the opportunity in the global market reduce shifts because they cannot find workers to work, they cannot get sipa ⁇ riş. Stating that the basis of master training is in small industry, Tecdelioğlu continued as follows: We need to establish small industries and train our masters here and send my main industries as incubators. State Planning Organization should be established. ⁇

⁇ We still have a 70-storey market in AB ⁇

On the other hand, Tecdelioğlu, who also explains the strategies for new markets in exports, has a strategy for Islamic countries as well as a strategy for distant countries. All of these are correctly planned strategic studies. On the one hand, there is the European Union. Still 55 ⁇ i of our exports are made to Avru ⁇ pa ⁇ ya, we cannot give up. There are still 70 times more markets than the goods we sell in AB ⁇ . In other words, if we can establish good logistics centers in AB ⁇ and create a strategy with its sub-base on a sectoral basis, we can still benefit much more from AB ⁇ ⁇ .

Support for 4 vocational high schools in 4 provinces in 2025

HISİAD has visited its colleagues in 6 provinces so far with the decision it has put into practice. The association, which also included the shortage of trained staff on its agenda, started to support vocational high schools for social responsibility purposes. The association, which first introduced machines to Ordu-Fatsa Gazi Vocational and Technical Ana ⁇ dolu High School, will support 4 different schools in 4 provinces in 2025. Çetin Tecdelioğlu, who invited all chambers of commerce and industry to be a part of vocational high schools, said ⁇ In this way, we ensure that both the career planning of the students, our students meet with the industry and the schools become a preferable school ⁇ .

⁇ Let's not make BRICS ⁇ bigger in our eyes ⁇

Commenting on Turkey's possible BRICS membership, Çetin Tecdelioğlu said that ⁇ BRICS ⁇ i is growing in our eyes. The BRICS is a political cluster, not an economic cluster. The BRICS does not even have an economic platform or a general secretariat among themselves. It's just a plan. On the other hand, 45 percent of the world society and 37 percent of the world economy said BRICS ⁇ in.

We should deepen in Afrika ⁇ without losing to ⁇ China ⁇

Pointing out that the African market is developing very fast, Tecdelioğlu noted that the consumption in Afrika ⁇ changed by 40 percent at a time with the gross national product of $ 3,000 being $ 4,000, and a difference of ⁇ Thousand dollars increases the consumption in the society by 40 percent at a time. It is an ideal market for Turkey with an increase of 40 percent, which creates a market with its packaging, plastic, glassware, door-window joinery. He emphasized that we need to deepen Afri ⁇ ka ⁇ without losing the Chinese ⁇ e, Indians ⁇ a and Europeans ⁇ a.

TİM Export Demand Index Rises in August

According to the August results of the Turkish Exporters Assembly (TIM) Export Market Monitor (IPC), the Export Demand Index was 99.9 points and the Market Endurance Index was 99.5 points.

In the statement made by TİM ⁇ , the August results of the Export Market Monitor, where the conditions that create demand in important markets and the demands and risks in the global economy are monitored, were shared.

Accordingly, in August there was an increase in the Export Demand Index compared to the previous month and the same period last year, and a decrease in the Market Endurance Index compared to the previous month and the same period last year.

The Export Demand Index, which follows the demand conditions for exported products through the export markets, using basic macroeconomic indicators and leading macroeconomic indicators, increased by 0.4 percent on a monthly basis in August and became 99.9 percent compared to the same month of last year. Under the He watched it.

Despite the decline in industrial production in August, improvements in job and consumer confidence, the limited increase in unemployment rates, brought the demand index closer to the long-term average.

Uncertainties in global economic conditions and high interest rates continue to weigh on the improvement in the index, while negatively impacting consumer spending and investment appetite.

Market Endurance Index was 99.5

The Market Resilience Index, which measures the resilience of export markets against risks by taking advantage of long and short-term social, economic and political indicators, decreased by 0.3 percent on a monthly basis in August and became 99.5 percent compared to the same month of last year.

Despite the partial improvement in the export demand index, the decline in the global geopolitical risk index negatively affected the resilience across the export markets and pushed the index away from the long-term average.

Positive climate in exports in the 8th month

Istanbul Chamber of Industry (ICI) Turkish Manufacturing Export Climate Index was realized above the threshold value of 50.0 in August. The index, which was 50.8 in July, was 51.3 in August. In August, economic activity increased in the majority of the main export markets of Turkish manufacturers. While U.S. production continued to increase markedly, Germany remained in the contraction zone.

The U.S. remains one of the main sources of improvement in demand. Production in France and Italy, which constitute a total of 9 percent of the Turkish manufacturing industry export market, has started to grow again. While the weak outlook in Central and Eastern Europe continued as of the middle of the third quarter, generally supportive demand conditions continued for a significant part of the Middle East. In August, the strongest production increase in all countries and regions followed by the PMI survey was recorded in India.

Production in the USA increased strongly in August

In August, economic activity increased in the majority of the main export markets of Turkish manufacturers. In Germany, which is the largest market, there was a contraction for the third month in a row, contrary to the general trend. This contraction was significant and at the highest rate since March. The U.S. remains one of the main sources of improvement in demand. While production increased strongly in August, it also gained momentum compared to July. In the UK, the pace of economic activity growth has strengthened to its highest level in four months. Production in France and Italy, which constitute a total of 9 percent of the Turkish manufacturing industry export market, has started to grow again. Especially in France, production increased for the first time in the last 15 months and this increase was realized at the highest speed since March 2023. In Spain, another major economy in the Eurozone, economic activity maintained a strong upward trend.

Strongest production growth recorded in India

In Central and Eastern Europe, the weak outlook continued as of the middle of the third quarter. Manufacturing industrial production contracted in Romania, Poland, the Czech Republic and Austria. In the same period, Russia recorded a moderate increase in economic activity for the second month in a row. For a significant part of the Middle East, conditions for generally supportive claims continued. Non-oil economic activity in the United Arab Emirates and Saudi Arabia also increased rapidly in August. While Qatar continues to grow, Egypt has recovered for the first time in three years. In Lebanon, on the other hand, production continued to contract. In August, India recorded the strongest production increase in all countries and regions followed by the PMI survey. At the other end was Myanmar, which recorded the fastest decline in production in the last 20 months.

Commenting on the Istanbul Chamber of Industry Turkey Export Climate Index, Andrew Harker, Economy Director of S&A P Global Market Intelligence, said: ⁇ August was generally positive for the important export markets of Turkish manufacturers. As the most important exception to this trend, Germany's continuation in the contraction zone also played a role in the weakness in Central and Eastern Europe. Exporters will expect a strong growth trend in major export markets such as the U.S. and the U.K., as well as a positive resumption in France and Italy.