Laurent-Perrier Group Tours-sur-Marne, 26 november 2021
Financial Press Release
Results for the first six months of the 2021-2022 financial year
The financial statements for the first six months of the 2021-2022 financial year to
The main audited consolidated financial data:
In millions of Euros On | 1st 6 months 2019-2020 Financial Year (N-2) ( | 1st 6 months 2019-2020 Financial Year 2020-2021 (N-1) ( | 1st 6 months 2021-2022 Financial Year ( | Change vs N-1 Financial Year | Change vs N-2 Financial Year |
Champagne sales | 99.1 | 71.0 | 128.4 | + 80.9 % | + 29.5 % |
Group turnover | 99.2 | 71.2 | 128.5 | + 80.5 % | + 29.6 % |
Operating profit | 19.8 | 14.6 | 35.6 | + 144.9 % | + 79.7 % |
Operating margin % (*) | 20.0% | 20.5% | 27.8% | + 7.3 pts | + 7.8 pts |
Net profit (Group share) | 11.0 | 7.6 | 23.3 | + 207.2 % | + 112.4 % |
Earnings per share (in euros) | 1.85 | 1.28 | 3.93 | + 2.65 € | + 2.08 € |
Operating cash flow (**) | - 21.9 | - 34.5 | + 16.7 | + 51.2 M€ | + 38.6 M€ |
* Margin calculated on champagne sales only
** Cash flow from operations - net investments
Mr.
“The Laurent-Perrier Group recorded a strong increase in its half-year results in the context of a global economic recovery that has helped boost shipments of champagne. This robust growth is supported in part by the exceptional nature of the restocking of our customers' inventories around the world, the recovery in consumption and the efforts made on the Group's value policy over the past few years.
Change in turnover:
There was very strong growth in the volumes shipped in the global champagne market during the period from
The Group recorded strong growth in sales volume during the first half of the financial year, from
Change in the result:
The Group continued to focus on adapting its cost structure (marketing expenditures and overheads) from the start of the health crisis and in the somewhat exceptional context of the recovery. The Group resumed its long-term investments, particularly to support its brands and business development during the period
Change operational cash flow and the financial structure:
Operational cash flow for the period increased sharply due to the growth in business activity and tight control of working capital requirement notably inventories. It stood at €+16.7 million on
The interim consolidated balance sheet to
(*) Net debt: financial liabilities and other non-current debts + current debts – active cash
Outlook
In a business context which continues to be uncertain due to the persistent health risk worldwide and the somewhat exceptional nature of the upturn recorded in recent months, the
- One exclusive focus on producing and selling high-end champagnes
- Quality supply based on a partnership policy
- A portfolio of strong, complimentary brands
- Well-controlled worldwide distribution
Code ISIN : FR 0006864484
Bloomberg : LPE:FP
Reuters : LPER.PA
It is part of the composition of the EnterNext© PEA-PME 150 and Euronext® FAMILY BUSINESS indexes.
Olivier DUMAS
Financial Director
Telephone : +33 3 26 58 91 22
The consolidated financial statements for the first six months of the 2021-2022 financial year were the subject of a limited audit by the statutory auditors (
https://www.finance-groupelp.com/
Appendices
Analysis of champagne turnover
1st 6 months – 2021-2022 Financial Year ( | ||
Champagne sales (M€) | 128.4 | |
Variations in % of total | vs Financial Year N-1 | vs Financial Year N-2 |
Total change | + 80.9 % | + 29.5 % |
of which volume effect | + 84.9 % | + 18.9 % |
of which price/mix effect | - 4.5 % | + 10.5 % |
of which currency effect | + 0.5 % | + 0.1 % |
The elements of the consolidated balance sheet
Group – in €million | On | On | On 31 | On |
Shareholders’ equity Group share | 423.2 | 435.1 | 451.9 | 472.8 |
Net debt | 318.7 | 324.0 | 286.9 | 275.0 |
Inventories and work in progress | 615.8 | 612.0 | 569.5 | 598.8 |
Financial Agenda
2021-2022 Annual Results: Start
Attachment
- Communique_financier_UK
© OMX, source