Laurent-Perrier

Financial release 2019-2020

Tours-sur-Marne, July 3, 2020

Laurent-Perrier

                                                            

 

Financial release

Laurent-Perrier announces + 2.6% increase in net income
for the 2019-2020 financial year

The financial statements for the year ended March 31, 2020, were examined by the Supervisory Board, which met on June 30, 2020 under the chairmanship of Mr. Maurice de Kervénoaël.

Key audited consolidated financial data

In millions of Euros At March 31, 2020	2018-2019	2019-2020	Variation vs N-1	Variation vs N-1 excluding currency effect (*)
Champagne sales	234.1	231.3	-1.2%	-1.7%
Group turnover	249.6	242.4	-2.9%	-3.4%
Operating income	41.3	41.2	-0.3%	-2.0%
Operating margin % (**)	17.6%	17.8%	+0.2 pt	+0.0 pt
Net income	23.2	23.8	+2.6%	NC
Earnings per share (in Euros)	3.89	3.99	+0.10	NC
Operational cash flow (***)	-2.2 M€	14.3 M€	+16.5 M€	NC

     * At N-1 exchange rates
   ** Margin calculated on champagne sales only
 * Cash flow from operating activities - net investments

Commenting on the half-year results, Mr. Stéphane Dalyac, Chairman of the Executive Board, stated: "Against the backdrop of a year-end marked by the COVID-19 health crisis, a declining Champagne market and ongoing uncertainties linked notably to the French and UK markets (Brexit), the Laurent-Perrier Group has delivered a solid performance, with an increase in its profitability and an improvement in its operating cash flow. This performance was driven in particular by a continued positive price/mix effect and by continued investment in brand awareness. Faced with an unprecedented situation that calls for a great deal of caution, the Laurent-Perrier Group reaffirms its desire to stay on course with its growth strategy, always relying on the quality of its champagnes, the strength of its brands and the control of its distribution. "