Vranken-Pommery Monopole - 2020 First-Half Results - €64.3 Million Stable First Half Net Income
Financial press release
2020 first-half revenue: €64.3 million
Stable first half net income
Reims, the 10th of September 2020
Vranken-Pommery Monopole’s Board of Directors met on the 10th of September 2020, chaired by Paul-François Vranken and in the presence of the statutory auditors, to approve the group’s financial statements for the first half of 2020.
|Consolidated data in millions of euro||06/2020||06/2019||Change|
|Ordinary Operating Income||1,2||2,9||-1,7|
|Attributable to equity holders of the parent||-6,4||-6,6||+0,2|
As a result of the containment measures adopted worldwide, including the closure of hotels, cafés and restaurants, the halt to events, the severe restrictions on international flights and Duty-Free sales, the group's consolidated revenues for the first half of 2020 reached €64.3 million, down 26.1%. However, it should be noted that :
- The negative impact of inter-professional sales of €4 million compared to June 30, 2019 will be offset in the second half of the year;
- Vranken-Pommery Monopole has managed to limit the deterioration in its business by a strong presence of its brands in all European off-trade sales networks: wine merchants, food retailers and food shops.
Export sales accounted for 56% of consolidated revenue, primarily driven by sales of Champagnes in the European Union and sales of Rosé Wines to large food customers.
Analysis of results
The Group's first-half results were marked by the containment measures that paralyzed the global economy. In this context, which was exceptional in its scope and intensity, Vranken-Pommery Monopole relied on its responsiveness and the agility of its organization to adapt to this unprecedented situation, as the results below attest :