Laurent-Perrier Group Tours-sur-Marne,
Financial Press Release
Results for the first six months of the 2022-2023 financial year
in a favourable market context.
The financial statements for the first six months of the 2022-2023 financial year to
The main audited consolidated financial data:
In millions of Euros At | 1st 6 months 2021-2022 Financial Year (N-1) ( | 1st 6 months 2022-2023 Financial Year ( | Change vs N-1 Financial Year |
Champagne sales | 128.4 | 159.3 | + 24.1% |
Group turnover | 128.5 | 159.4 | + 24.0% |
Operating profit | 35.6 | 53.1 | + 48.9% |
Operating margin % (*) | 27.8% | 33.3% | + 5.5 pts |
Net profit - Group share | 23.3 | 36.9 | + 58.4% |
Earnings per share (in Euros) | 3.93 | 6.24 | + €2.31 |
Operating cash flow (**) | + 16.7 | + 30.7 | + M€14.0 |
* Margin calculated on champagne sales only
** Cash flow from operations - net investments
Commenting on the half-year results, Mr
"The
Change in turnover:
During the period from
During this same period, the Group once again experienced strong growth in sales volume of 12.4% compared to FY N-1. In addition to consumer enthusiasm for Champagne, this performance is also supported by the strength of the Group's brands and the quality of its top-of-the-range champagnes, thus driving consolidated sales for the first half of the year (Champagne sales) to €159.3 million at current exchange rates.
Change in profit:
During the first half of 2022-2023, 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. The Group's operating margin reached 33.3% at current exchange rates. The Group share of net profit also rose sharply. It stands at €36.9 million at current exchange rates and thus represents 23.1% of the Group's consolidated turnover.
Changes in operational cash flow and financial structure:
Operational cash flow for the period shows a strong increase due to growth in operational activity, pressure on stocks and the impact of previous harvests. It therefore stood at +€30.7 million at
The interim consolidated balance sheet at
(*) Net debt: financial liabilities and other non-current debts + current debts – active cash
Outlook
- 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
ISIN code: FR 0006864484
Bloomberg: LPE:FP
Reuters: LPER.PA
It is part of the composition of the EnterNext© PEA-PME 150 and Euronext® FAMILY BUSINESS indexes.
Stéphane DALYAC
Chairman of the Management Board
Telephone: +33 3 26 58 91 22
The consolidated financial statements for the first six months of the 2022-2023 financial year were the subject of a limited audit by the statutory auditors (
https://www.finance-groupelp.com/
Appendices
Analysis of champagne sales
1st 6 months – 2022-2023 Financial Year ( | |
Champagne sales (M€) | 159.3 |
Change in % of total | vs FY N-1 |
Total change | + 24.1% |
o/w volume effect | + 12.4% |
o/w price/mix effect | + 9.5% |
o/w currency effect | + 2.2% |
Elements of the consolidated balance sheet
Group - in € million | At 30 | At 31 | At |
Shareholders’ equity Group share | 472.8 | 500.7 | 524.3 |
Net debt | 275.0 | 225.1 | 202.5 |
Inventories and work in progress | 598.8 | 553.6 | 658.0 |
Financial agenda
2022-2023 Annual results:
Attachment
- Communique_financier_en
© OMX, source