VRANKEN-POMMERY MONOPOLE : 2019 REVENUE - 2019 revenue: €274.6 million
21 Gennaio 2020 - 6:00PM
VRANKEN-POMMERY MONOPOLE : 2019 REVENUE - 2019 revenue: €274.6
million
Financial press release
2019 REVENUE2019
revenue: €274.6 million
Reims, 21 January 2020
|
|
|
|
|
Cumulative data in € millions |
31/12/2019 |
31/12/2018 |
Change |
% |
Champagne |
209.4 |
232.6 |
-23.2 |
-10.0% |
Provence and Camargue wines |
12.4 |
11.2 |
1.2 |
+10.7% |
Others (Port, Sparkling Wines and
other) |
21.7 |
23.6 |
-1.9 |
-8.0% |
Semi-finished products and generic
wines |
31.1 |
33.0 |
-1.9 |
-5.8% |
Revenue (*) |
274.6 |
300.4 |
-25.8 |
-8.6% |
(*) under audit |
|
|
|
The Vranken-Pommery Monopole group's revenue
came to €274.6 million in the 2019 financial year, down 8.6%.
This fall in revenue is exclusively due to the
drop in champagne and port sales in the French off trade. This in
turn results from the coming into force on 1 January 2019 of the
EGalim Act regulating French supermarket promotions, which brings
sweeping changes to the traditional promotions that boost sales.
International markets remained buoyant and the share of exports
continued to increase, reaching 57% of customer sales in 2019,
compared with 43% for France.
These trends bear out the group’s strategy of
moving towards an increasingly premium positioning with strong
international expansion.
·Champagne
In the French off trade, while classed as a
luxury product champagne is above all a product for celebrations
and impulse buying. As with other products in this category, the
EGalim act hurt champagne sales throughout the year. The removal of
the usual promotions disoriented consumers, who sharply reduced the
impulse purchases to which they had become accustomed for more than
a decade.
Sales to other segments, including French
restaurants, remained strong despite the impact of strikes on
tourism and travel. The prestigious positioning of the Champagne
Pommery & Greno international brand ensured that its sales
increased slightly, with considerable growth for the Louise super
premium vintage.
·Provence
and Camargue wines
The almost 11% increase in wine revenue was
driven by strong growth in the Sable de Camargue gris wines. Pink
Flamingo, an organic wine produced from a single vineyard, is one
of our group's most powerful growth drivers, seeing volumes
increase by nearly 20% in 2019.The vineyard's extensive capacity
secures the development of the Pink Flamingo brand, which continues
to extend its customer base.
Our Provence wines continued to broaden their
footprint. The implementation of a new vinification cellar using
amphorae will ensure sophistication for the Chapelle-Gordonne
wines, which are all produced in the outstanding Pierrefeu
terroir.
·Port
Sparking Wines and other
Like champagne, port was affected by the
introduction in 2019 of the EGalim Act in French supermarkets and
hypermarkets. Port sales outside this segment were steady or, in
the case of restaurants, increased.Douro red wines saw continued
growth in their domestic market.
Sparkling wines, still in the installation
phase, represent a future area for development. Louis Pommery
California is enjoying healthy sales in the United States.Louis
Pommery England won the gold medal at the Champagne and Sparkling
Wines World Championship, a mark of recognition of the quality of
the group's work.
Outlook
France:
The sharp fall in champagne sales recorded in
France in 2019 in the low-profitability off-trade segment will have
a moderate negative impact on the group’s results, which it will
publish on 30 March 2020.
As already stated, the group has shifted its
focus from affordable luxury sales to an international prestige
positioning.Beginning in 2019, it has designed and rolled out new
strategic measures to adapt the champagne branch:
- Reduction of purchasing commitments
- Adaptation of operating expenses
- Reduction of the average cost of debt
Accordingly, we expect to honour the
deleveraging commitments announced for 2020.
International:
In the United States, the group quickly adapted
to the introduction of the 25% tax precipitously voted in in
December by arranging for the local bottling of its rosé wines.The
easing of trade negotiations with the United States on a possible
tax on Champagnes is welcomed.
The group will open a Singapore office in
February to support its profitable sales in that region.
By investing in global brands such as Champagne
Pommery & Greno, Vranken-Pommery Monopole, confident in the
excellent quality of its wines, has laid the indispensable
foundations for successful worldwide expansion and
premiumisation.
. Next
release
Publication of the group’s annual earnings on 30 March 2020,
after the stock market
close.
About Vranken-Pommery
Monopole
Vranken-Pommery Monopole manages 2,600 hectares
of land, owned outright or under lease and spread over four
vineyards in Champagne, Provence, Camargue and Douro. The group’s
wine-making activities range from production to marketing, with a
strong commitment to the promotion of terroirs, sustainable
wine-growing and environmental conservation.Its brand portfolio
includes:
- the Vranken, Pommery & Greno, Heidsieck & Co Monopole,
Charles Lafitte and Bissinger & Co champagnes;
- the Rozès and Sao Pédro port wines and the Terras do Grifo
Douro wines;
- the Domaine Royal de Jarras and Pink Flamingo Camargue wines
and the Château La Gordonne Provence wine;
- the Louis Pommery California, Louis Pommery England, Brut de
France and Pink Flamingo sparkling wines.
Vranken-Pommery Monopole is listed on NYSE
Euronext (Paris and Brussels).(Codes “VRAP” (Paris), and “VRAB”
(Brussels); ISIN: FR0000062796).
Contacts
Vranken-Pommery Monopole: Franck Delval, Financial
Control Director+33 (0)3 26 61 62 34, comfi@vrankenpommery.fr |
MediaLaurent Poinsot, + 33 (0)1 53 70 74 77
lpoinsot@image7.frClaire Doligez, +33 (0)1 53 70 74
25,cdoligez@image7.frCaroline Simon, +33 (0)1 53 70 74 65,
caroline.simon@image7.fr |
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