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 10^th of September 2020

Vranken-Pommery Monopole’s Board of Directors met on the 10^th 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
Revenue	64,3	87,0	-22,7
Subactivity	-1,0	0	-1.0
Ordinary Operating Income	1,2	2,9	-1,7
Operating Income	-0,1	1,5	-1,6
Financial Result	-8,8	-9.7	+0,9
Net income	-6,5	-6,6	+0,1
Attributable to equity holders of the parent	-6,4	-6,6	+0,2

  

Revenue

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 :