VRANKEN-POMMERY MONOPOLE : Turnover first half 2020: €64.3 million. Controlled effects of the Covid-19 crisis
16 Luglio 2020 - 6:00PM
VRANKEN-POMMERY MONOPOLE : Turnover first half 2020: €64.3 million.
Controlled effects of the Covid-19 crisis
Financial press release
Turnover first half 2020: €64.3 million
Controlled effects of the Covid-19 crisis
Reims, July 16, 2020
Résilience of the business model
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Cumulative data in € millions |
30/06/2020 |
30/06/2019 |
Change |
as a % |
Champagnes |
50,8 |
65.9 |
-15,1 |
-23,0% |
Provences et Camargues wines |
6,4 |
6,7 |
-0,3 |
-4,2% |
Others (port, sparkling and sundry
wines) |
6,5 |
9,8 |
-3,3 |
-34,0% |
Sales to customers |
63,7 |
82,4 |
-18,8 |
-22,7% |
Semi-finished products and generic
wines |
0,6 |
4,6 |
-4,0 |
-86,9% |
Consolidated revenue (*) |
64,3 |
87,0 |
-22,8 |
-26,1% |
(*) under audit |
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In the context of the major pandemic crisis of
Covid-19, the group's consolidated revenue for the first half of
2020 was €64.3 million, down 26.1%.
Sales to customers, which contribute to margins,
fell by only 22.7% to € 63.7 million.
Although out-of-home consumption of "festive"
products has been halted throughout the world as a result of
containment measures, Vranken-Pommery Monopole has managed to limit
the deterioration in its activity by a strong presence of its
quality brands in all the off-trade sales networks: wine merchants,
food retailers and food shops.
Export sales represent 56% of consolidated
sales. They are mainly driven by sales of champagnes in the
European Union and sales of rosé wines to major food customers.
In third countries, where the group has
historically focused on the hotel and restaurant business, the
development of the Vranken-Pommery Monopole has slowed down,
especially in the United States where the market is, as always,
subject to wide variations.
Champagnes
Champagne sales in the first half of 2020, down
23% to €50.8 million, were almost completely halted in hotel and
restaurant networks around the world. This impact was partially
offset by sales in the Off-trade in France, and especially in
Benelux, Germany and Switzerland, all the more so as family
reunification, which promotes conviviality, was authorised in these
five countries as part of the containment.
Rosé Wines
The group's multi-networks enabled sales of rosé
wines, whether from Provence or the Camargue, to be maintained at a
level almost equivalent to that of 2019 (-4.2%).
The impact of the closure of restaurants in
France, where Provence Château La Gordonne and Camargue Domaine
Royal de Jarras are particularly well represented, was largely
offset by additional sales in wine stores and food networks.
This was also the case throughout Europe:
Belgium, Holland, Germany and Switzerland.
Over the second half of the year, the
deconfinement will have a favourable effect on rosé wine sales.
Sparklings Wines
Louis Pommery, a Californian sparkling wine,
distributed like Champagne in the most prestigious networks of the
hotel industry, experienced a similar slowdown to the latter in the
United States.
Ports and Douro Wines
In France, the decline in sales was limited to
9%, but the Portuguese subsidiary's activity was strongly affected
in its domestic market, where tourism, the main sector of activity,
was halted by containment. Sales in Portugal collapsed.
Semi-finished product sales
Semi-finished product sales of
Grands Domaines du Littoral are postponed to the second half of the
year.
Outlook
The vines of the group present the best
conditions for a quality harvest, which is expected very early for
the Champagne region from August 20th. On the other hand, in
Provence, the vineyards have suffered a strong spring frost.
The group will take all measures to limit its
supplies and balance its inventories, taking into account the
weakness of current sales and the uncertainties linked to future
sales.
Above all, the past period has enabled
Vranken-Pommery Monopole to demonstrate the resilience and solidity
of its business model, which is based on a wide range of
high-quality products, multi-channel distribution and an
international presence.
Next release
Online publication of the 2020 Half-Year
Financial Report: September 10, 2020 after the close of
trading.
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 3 26 61 62 34, comfi@vrankenpommery.fr |
PresseLaurent Poinsot, + 33 1 53 70 74 77
lpoinsot@image7.frClaire Doligez, +33 1 53 70 74 25,
cdoligez@image7.fr Caroline Simon, +33 1 53 70 74 65,
caroline.simon@image7.fr |
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