Marie Brizard Wine & Spirits: Net sales for the first quarter
2021
Charenton-le-Pont, April 28th, 2021
Net sales for the first quarter
2021
2021 1st
quarter Net Sales at
€38.4M
(-6.9%)
excluding Poland
and Moncigale
- A dynamic
start of the year in France with sales ahead
by +6.6%driven
by retail sales, the
resumption of
promotional activity
and the impact of the
distribution agreement for the Paddy
Irish Whiskey brand, taken over in June
2020
- Impact of
the pandemic in the International
cluster’s
sales:
- Return to
the pre-crisis level of
ethyl alcohol bulk sales in
Lithuana
- Key markets
(United
Kingdom,
USA and Spain) still
penalised by
restrictive On Trade
measures
- Normalization of
shipments to the USA after a first year
2020 of inventory building
- Progress in markets less affected by
restrictions (e. g. Germany)
NB: All sales growth figures mentioned in this
press release are at constant exchange rates and on a like-for-like
basis, unless otherwise stated.
Marie Brizard Wine &
Spirits (Euronext : MBWS) today announces its
unaudited net sales for the 1st quarter 2021, covering the period
from 1st January to 31 March 2021.
In line with the evolution of the business
following the various disposals since 2019 (in particular the
activities in Poland, sold October 21, 2020, and Moncigale sold
February 16, 2021), the Group’s revenue is now presented according
to two clusters, France and International, reflecting the Group’s
new managerial organization in place since January 1, 2021.The
tables reconsituting 2020 revenues by quarter (applying IFRS 5)
according to the breakdown into two clusters are presented in the
Appendix.
1st
Quarter 2021 Sales
(*)
in
M€ |
Q1
2020 |
Organic growth |
Currency impact |
Q1
2021 |
Organic Growth (exc.
forex) |
Growth (incl.
forex) |
France |
18.0 |
1.2 |
0.0 |
19.2 |
6.6% |
6.6% |
International |
23.8 |
-4.1 |
-0.5 |
19.3 |
-17.1% |
-19.0% |
TOTAL MBWS |
41.8 |
-2.9 |
-0.5 |
38.4 |
-6.9% |
-8.0% |
* Application of IFRS 5 "Entities sold and held
for sale": restatement of the scope of consolidation relating to
divested activities (Poland and Moncigale)
Details by cluster
France
In the first quarter of 2021, the France
cluster’s revenue amounted to €19.2m, up +6.6% compared with the
beginning of 2020, which was impacted by the effects of the
Covid-19 pandemic from mid-March.
In a dynamic retail spirits market, which
benefited from a shift in consumption resulting from the closure of
bars and restaurants, MBWS resumed its sales support plans and saw
a contribution from sales of the Paddy brand, taken over in June
2020.
In the On Trade, activity was down sharply in
the quarter due to the on-going closures resulting from the health
crisis, in contrast to 2020 when hotels and restaurants were open.
It also takes into account the change in distribution model dating
from March 2020, which led to a mechanical decline in channel
invoiced sales revenue.
Brands in the portfolio maintained their market
share globally, although the William Peel brand has seen some
softness after a strong quarter in 2020.
International
The International cluster’s first quarter 2021
revenue amounted to €19.3m, down -17.1% compared with the first
quarter 2020.
In Western Europe, the solid growth experienced
in Germany with the development of the retail business did not
compensate for the decline in On Trade sales in the UK. This key
market for the Group suffered from the restrictions relating to
Covid throughout the entire quarter whereas restrictions in 2020
began only at the end of the same quarter. The recent reopening of
bars and restaurants terraces in Great Britain should allow for
business recovery in this market.
With a predominantly On Trade market, activity
in the Iberian zone also suffered from the restrictive measures,
with the Marie Brizard brand recording a decrease in Liqueur
volumes in this channel, whereas Marie Brizard Anisette’s sales
remained solid in the Off Trade, strengthening market share. Over
the quarter, distributors also maintained stocks at low levels.
In Scandinavian countries, domestic activity
which had enjoyed a strong start last year, was impacted by the
continued closure of the On Trade in the first quarter of 2021,
penalizing brands such as Sobieski. Despite sucessive restrictions,
which are still in place, Off Trade activity is holding up well. In
particular, cognac sales are growing.
Africa experienced a good start to the year,
driven in particular by recovery of sales in Algeria. Middle
Eastern markets were down but show positive signals for the coming
months.
As expected, bulk sales of ethyl alcohol in the
Baltic States have experienced a significant decline, both in
volume and price, while in Bulgaria wine performance remained
dynamic in both domestic and export markets.In Poland, sales of
William Peel to the Group's former subsidiary, which has now become
a partner distributor, increased.
The decline in shipments to the USA reflects an
unfavourable base effect compared to the first quarter of 2020 as
the new distribution model began January 1, 2020, when our partner
began to build up stocks. The comparative base is also unfavourable
due to the last direct sales recorded in the same quarter of 2020
to historical distributors under the previous commercial model.
While Canada continues to be affected by
anti-Covid restrictions, the Group’s sales in Brazil are benefiting
from good growth in sales of local brands as well as imported
brands such as Cutty Sark.
In Asia-Pacific, the group recorded the business
growth in the quarter, thanks in particular to the continued good
performance of Marie Brizard liqueurs in Australia and Korea. It
offset the persistent difficulties in Japan, which is suffering in
the On Trade from the extension of the state of emergency until the
end of March 2021. Marie Brizard sales began in China.
Financial agenda
- General Meeting : June 30th,
2021
- 2021 First Half Net Sales: July
28th, 2021
About Marie Brizard
Wine & Spirits
Marie Brizard Wine & Spirits is a Group of
wines and spirits based in Europe and the United States. Marie
Brizard Wine & Spirits stands out for its expertise, a
combination of brands with a long tradition and a resolutely
innovative spirit. Since the birth of the Maison Marie Brizard in
1755, the Marie Brizard Wine & Spirits Group has developed its
brands in a spirit of modernity while respecting its origins.Marie
Brizard Wine & Spirits' commitment is to offer its customers
brands of confidence, daring and full of flavours and experiences.
The Group now has a rich portfolio of leading brands in their
market segments, including William Peel, Sobieski, Marie Brizard
and Cognac Gautier.Marie Brizard Wine & Spirits is listed on
Compartment B of Euronext Paris (FR0000060873 - MBWS) and is part
of the EnterNext PEA-PME150 index.
ContactImage Sept Claire Doligez-
Flore Largercdoligez@image7.fr – flarger@image7.frTél : +33 1 53 70
74 70 |
APPENDIX
2020 Net Sales by
quarter under the two clusters France/International
after application of IFRS 5
(*)relating
to "entities sold or held for
sale".
in
M€ |
Q1
2020 |
Q2
2020 |
S1 2020 |
Q32020 |
9 M 2020 |
Q4
2020 |
FY 2020 |
France |
18.0 |
20.3 |
38.3 |
17.9 |
56.2 |
19.7 |
75.9 |
International |
23.8 |
24.7 |
48.5 |
22.1 |
70.6 |
22.6 |
93.2 |
TOTAL MBWS |
41.8 |
45.0 |
86.8 |
40.0 |
126.8 |
42.3 |
169.1 |
* Application of IFRS 5 "Entities sold and held
for sale": restatement of the scope of consolidation relating to
relating to divested activities (Poland and Moncigale)
- MBWS_PR_NETSALES_Q12021_EN_28AVRIL2021