Vranken-Pommery Monopole - 2020 Annual Results - Positive results despite the health crisis

Financial press release

Positive results despite the health crisis

Reims, 29 March 2020

Vranken-Pommery Monopole’s Board of Directors met on 29 March 2021, chaired by Paul-François Vranken and in the presence of the statutory auditors, to approve the group’s financial statements for 2020 financial year.

Consolidated data in millions of euro	31/12/2020	31/12/2019	Change In value
Revenue	244,0	274,6	-30,6
Ordinary Operating Income	18,6	24,3	-5,7
Operating Income	18,0	20,3	-2.3
Financial Result	-17.3	-19,3	+2,0
Net income	0,3	0,1	+0,2
Attributable to equity holders of the parent	0,2	0,1	+0,1

The process of auditing and issuing the audit report for the certification of the consolidated accounts is being finalised.

The Vranken-Pommery Monopole group demonstrated its ability to absorb economic shocks in the course of the year 2020. This resilience is based on its recognised brands, the quality of its products, the flexibility of its organisation and its presence in all distribution channels, particularly in home consumption networks.

The end consumer has remained attached to the group's products and has adapted its consumption patterns to the constraints of the Covid-19 pandemic, in particular the restrictions on mobility and conviviality.

Revenue

Consolidated revenues for 2020 are down 11.1% to 244 million euros, with exports up 60%.

In the Champagne business, in a market that is down around 18% in volume (source: CIVC), Vranken-Pommery Monopole is gaining market share with a limited 11.9% decline. The group even managed to increase its sales in the countries in the north-eastern crown of Europe and in Australia.

The growth of Provence and Camargue Rosé Wines was confirmed at +11.7%. The group is establishing itself as a leader in organic winegrowing, thus responding to growing consumer demand.

Port and Douro Wines suffered from the lack of tourist activity in Portugal, partially offset by export sales.

Analysis of results

The strategic measures announced and implemented over the last three years have made it possible to cushion the impact of the health crisis. This adaptation of the cost structure to market changes has proved its relevance in this unprecedented context and is reflected in :