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Vranken-Pommery Monopole - 2021 First-Half Results - €93.3m (+45%) Very strong rebound in activity

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Financial press release

Turnover for the first half of 2021: €93.3m (+45%)
Very strong rebound in activity
2021 revenue growth target revised upwards to at least +7.5%

Reims, July 15th, 2021

Cumulative data in € millions

30/06/2021

30/06/2020

Change

as a %

Champagnes

76,1

50,8

+25,3

+50,0%

Semi-finished products

1,4

0,6

+0,8

NS

Provences et Camargues wines

8,0

6,4

+1,6

+23,6%

Others (Port, Sparkling Wines and others)

7,8

6,5

+1,3

+20,0%

Consolidated revenue (*)

93,3

64,3

+29,0

45,1%

(*) under audit

In the context of the global pandemic, Vranken-Pommery Monopole's international presence, with its nine subsidiaries, has been a key asset in ensuring resilience at the height of the crisis, and then initiating a powerful rebound.

After months of confinement, sales of our Champagnes have recovered strongly, particularly for Champagne Pommery & Greno, for which demand is particularly strong in all countries, from North America to Australia, as well as in all European countries.

For its part, Champagne Vranken has seen record sales on the Belgian market.

The Group's consolidated revenues for the first half of 2021 came to 93.3 million euros, up 45% on the previous year. It is thus back to a level comparable to that established in the first half of 2018, thanks in particular to a favourable price/mix effect.

Sales to customers are 46% higher than at 30 June 2020, and 13.5% higher than in 2019.

All of the group's markets are progressing without exception in terms of both volume and mix. Turnover in France is up by 20% and exports, which now represent 64% of the business, are up by 68%.

This excellent export activity can be explained by :
- The measures undertaken for several years to internationalise the group.
- The market share gains achieved by the group in 2020.
- The group's local presence throughout the world, via its subsidiaries, which has enabled a rapid resumption of activity as close as possible to customers without being constrained by travel limits.

Champagne Branch

Champagne sales for the first half of 2021 came to 76.1 million euros, representing a 50% increase.

This remarkable performance is explained by a significant increase in volumes across the Group's brand portfolio, and by the intensification of Champagne Pommery & Greno's international development.

Wine Branch

Rosé wines from Provence and Camargue saw a further increase of almost 24%.
The reopening of the hotel and catering sector contributed to the growth of the branch in the first half of 2021.

Sales of Château La Gordonne's Provence and Domaine Royal de Jarras' Camargue Rosé wines continued to grow. This dynamic is primarily due to the quality of the wines produced, but also to their international distribution model.

Sparkling Wines branch

Louis Pommery California Sparkling Wine, distributed in the same networks as Champagne, has grown by over 39% in the United States.

Ports and Douro Wines Branch

Sales of Port and Douro Wines are back on the rise with an increase of 24% compared to 30 June 2020, thanks to the recovery of tourist activity in Portugal and the recurrence of sales in the European Union.

Semi-finished products

As in 2020, interprofessional sales remain marginal in the composition of turnover.

Outlook

The spring frosts and the outbreaks of mildew will have a strong impact on the yields in Champagne.
The harvest is expected to be small but should fortunately be compensated by the release of reserve wines.

The vines in Provence should produce a good harvest, but the vineyards of Camargue, which also suffered heavy spring frosts, should see a smaller harvest than in 2020.

Given the evolution of its consolidated turnover in the first half of the year, and despite the climatic hazards, the group has revised upwards its target for growth in consolidated turnover in 2021 to a minimum of +7.5% (compared to +5% previously).

Reason for Being

Aware of its role as a sentinel of climate change and its social responsibility, the Vranken-Pommery Monopole group has included its Reason for Being in its articles of association and transformed itself into a Mission Company at its General Meeting of 3 June 2021, thus becoming the first Champagne House, and more generally in the world of wine, to join this dynamic.

The Company's Raison d'Etre consists of promoting the highest quality of Champagnes and Wines produced throughout the world, while mobilising the ecosystem in which the Company operates (companies in its Group, employees, partners, customers, shareholders), for the protection of the environment and biodiversity, sustainable development and the preservation of the identity of the terroirs and the specificity and quality of their products.

The Company's mission is to pursue the following objectives
- To be part of a sustainable development strategy,
- To achieve organic conversion for the company's own vineyards as well as partner vineyards,
- To limit the impact of its activities and those of the Group's companies on the environment,
- Limit the use of fossil fuels and promote the use of renewable energies,
- Treat waste and/or recycle it,
- Preserve natural areas and biodiversity,
- Preserve the natural, historical and built heritage,
- Preserve the strong identity of the terroirs, their human foundation, their ecosystem but also the specificity and the best quality of their products,
- To propose to the companies of the group, employees, partners, customers and shareholders to adhere to the above-mentioned values by proposing Champagnes and Wines of an extreme quality but with a limited environmental impact.

Next release

Online publication of the group's half-year financial report on 9 September 2021, after the close of trading

About Vranken-Pommery Monopole

Vranken-Pommery Monopole manages 2,600 hectares of land owned outright or under lease, of which 2,200 ha are organic or in conversion, 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

Presse
Laurent Poinsot, + 33 1 53 70 74 77 lpoinsot@image7.fr
Claire 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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