Laurent-Perrier

Annual results 2020-2021

Laurent-Perrier Group

Tours-sur-Marne, June 11th, 2021

        

Financial release
Results for financial year 2020-2021

Laurent-Perrier announces stable operating income
and an increase in net income, Group share, of +6.5%.

The financial statements for the financial year 2020-2021, which ended on 31 March 2021, were approved by the Management Board on 8 June 2021 and examined on the same day by the Supervisory Board, chaired by Mr. Patrick Thomas.

Key consolidated financial data audited:

In €m At 31 March 2021	2019-2020 (1 April 2019 - 31 March 2020)	2020-2021 (1 April 2020 – 31 March 2021)	Change vs N-1	Change vs N-1 excluding currency effect (*)
Champagne sales	231.3	184.7	-20.1%	-19.6%
Group turnover	242.4	195.2	-19.5%	-19.0%
Operating income	41.2	41.3	+0.2%	+1.8%
Operating margin % (**)	17.8%	22.4%	+4.6 pts	+4.8 pts
Net income - Group share	23.7	25.2	+6.5%	NC
Earnings per share (in Euros)	3.99	4.25	+0.26	NC
Operational cash flow (***)	+14.3 M€	+3.6 M€	-10.7 M€	NC

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

Commenting on the results for the year, Mr. Stéphane Dalyac, Chairman of the Management Board, said:

"In the context of a 2020-2021 financial year that was severely affected by the COVID-19 health crisis, the Laurent-Perrier Group was able to adapt to this unprecedented situation, as shown by the published results, thus confirming the resilience of its model based on its value policy. Indeed, despite a sharp decrease in volumes sold as a result of the health measures adopted around the world, this performance is based on a continued positive price effect, a clear increase in its operating margin rate and tight control of its operating cash flow. In a still uncertain health situation, the Laurent-Perrier Group reaffirms its determination to stay the course of its strategy by continuing to rely on the quality of its Champagne wines, the quality of its teams, the strength of its brands and the control of its distribution. "