Laurent-Perrier

Financial Press Release - Annual results 2022-2023 - Seite 2

Change in profit:

During the period from 1 April 2022 to 31 March 2023, the Group continued to invest for the long term, particularly in support of its brands and in business development. This investment in sales enhancement contributes to the strength of the brands and the price/mix effect. All of this, supported by the requirement to control costs despite global inflation, contributed to the increase in the Group's operating margin, which reached a record 28.1% at current exchange rates. The Group share of net profit also rose sharply. It stands at €58.5 million at current exchange rates and thus represents 19.4% of the Group's consolidated turnover.

Changes in operational cash flow and financial structure:

Operating cash flow was a strong +€57.8 million for the year. This performance is linked to the growth of the business and to the control of working capital requirements.
The elements of the consolidated balance sheet for the year ended 31 March 2023 once again demonstrate the strength of the Group's financial structure. Shareholders' equity, Group share, amounted to €544.7 million and net debt (*) stood at a historically low level of €179.9 million including active cash of €105.8 million. Gearing thus improved further to 0.33 from 0.45 at 31 March 2022.

^(*) Net debt: financial liabilities and other non-current debts + current financial debts - active cash

Outlook

Despite an uncertain geopolitical and economic context, the Laurent-Perrier Group is confidently and attentively pursuing its 2021-2025 business plan and maintaining its value strategy based on the following 4 pillars:

• Exclusive focus on producing and selling high-end champagnes
• Quality supply based on a partnership policy
• A portfolio of strong, complimentary brands
• Well-controlled worldwide distribution

Laurent-Perrier is one of the rare family groups of champagne houses which is listed on the stock market, and which is exclusively dedicated to champagne, and focused on the high-end market. It has a large product portfolio renowned for its quality, based around the Laurent-Perrier, Salon, Delamotte and Champagne de Castellane brands.

ISIN code: FR 0006864484 Bloomberg: LPE:FP Reuters: LPER.PA	Laurent-Perrier belongs to compartment B of Euronext. Principal index CAC All Shares It is part of the composition of the EnterNext PEA-PME 150 and Euronext FAMILY BUSINESS indexes.
Stéphane DALYAC