Laurent-Perrier

Financial Press Release - Annual results 2023-2024

Laurent-Perrier Group

Tours-sur-Marne, 24 May 2024

        

Financial press release
Results for the financial year 2023-2024

Further growth in earnings, underpinned by recognised quality

The financial statements for the 2023-2024 financial year, which ended on 31 March 2024, were approved by the Management Board on 21 May 2024 and reviewed on the same day by the Supervisory Board, chaired by Mr Patrick THOMAS.

The main audited consolidated financial data:

In €M At 31 March 2024	Financial year 2022-2023 (N-1) (1 April 2022 - 31 March 2023)	Financial year 2023-2024 (1 April 2023 - 31 March 2024)	Change vs FY N-1
Champagne sales	301.8	303.5	+ 0.5%
Group turnover	307.8	312.5	+ 1.5%
Operating profit	84.9	95.1	+ 12.0%
Operating margin % (*)	28.1%	31.3%	+ 3.2 pts
Net profit - Group share	58.5	63.6	+ 8.7%
Earnings per share (in Euros)	€9.90	€10.74	+ €0.84
Operating cash flow (**)	+ 57.8	+ 0.9	- 56.9

* Margin calculated on champagne sales only
** Cash flow from operations - net investments

     

Commenting on the half-year results, Mr Stéphane Dalyac, Chairman of the Management Board, stated:

"The Laurent-Perrier Group recorded further growth in its results in a market context that was down on the previous two years. The investments in support of our brands that we have been making for several years, and the quality of our Champagnes, have enabled us once again to achieve a significant price-mix effect and, for the second time, to report Champagne sales in excess of 300 million euros.
The Laurent-Perrier Group is thus maintaining the course of its strategy by continuing to rely on the excellence of its Champagnes, the quality of its teams, the strength of its brands and the control of its distribution."

Change in turnover:

During the period from 1 April 2023 to 31 March 2024, the global champagne market recorded a volume decline of -11.8% compared to the year N-1.