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Lanson-BCC — Earnings Release 2010
Aug 27, 2010
1470_iss_2010-08-27_79a5614e-3bb5-4cc3-b257-821d7aa64a88.pdf
Earnings Release
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PRESS RELEASE
2010 FIRST-HALF REVENUES: €104 MILLION
Reims, Thursday August 26th, 2010 - 5:45 pm - The Lanson-BCC Group recorded €104.3 million in consolidated revenues for the first half of 2010, compared with €88.4 million at June 30th, 2009 (+18%). This figure compares with the first half of 2009 which was affected by the destocking seen in global distribution channels.
Sales trending up
Second-quarter revenues confirm the good trend for business in 2010 (€55.5 million, +15.8%).
Excluding the brokerage business CGV, sales for the first half of 2010 (€94.7 million, +8.5%) are similar to the level recorded for the first half of 2007.
Lanson-BCC has pragmatically pursued its strategy as a global Champagne player: the Group's various Houses dovetail effectively with one another, enabling it to not neglect any market segment. The Group has benefited from the valued positioning of its leading brands, particularly Champagne Lanson, which celebrated its 250th anniversary in 2010.
Positive half-year earnings
The positive change in the price mix, linked to the increase in export volumes (46% of total shipments, compared with 33% at June 30th, 2009) and superior vintage sales (+25% in volume), is paving the way for an improvement in profitability. Nevertheless, like each year, it is important to note that Lanson-BCC records around one third of sales over the first six months of the year, but half of fixed costs, and the level of profitability at June 30th is not representative of earnings for the whole year.
Income from ordinary operations came to nearly €9.3 million, compared with €8 million at June 30th, 2009, up 16%.
The Group's financial result has seen a positive trend, coming in at -€6.6 million, compared with -€7 million at June 30th, 2009, with the variable-rate borrowings needed to finance the ageing of Champagne wine stocks benefiting from the reduction in rates.
2010 has started off with a satisfactory trend, reflecting the better fit between shipments and consumption. Today, this points to a better year in 2010 than 2009.
The audited and definitive results for the first half of 2010 will be released on Thursday September 23rd (after close of trading).
| LANSON-BCC fully owns seven Champagne Houses | Euronext Compartment B |
|---|---|
| ISIN: FR0004027068 | |
| - Champagne Lanson (Reims), the prestigious international brand. | Ticker: LAN |
| - Champagne Chanoine Frères (Reims), wines intended primarily for the | Reuters: BCCP.PA |
| European mass retail market (Chanoine brand), notably with the Tsarine | Bloomberg: LAN:FP |
| Cuvée range. | www.lanson-bcc.com |
| - Champagne Boizel (Epernay), French mail-order market leader, with wines distributed in the traditional sector for international markets. - Maison Burtin (Epernay), a European mass retail supplier and owner of the Besserat de Bellefon brand, distributed through traditional networks (restaurants, wine stores). - Champagne De Venoge (Epernay), sold on selective retail markets, notably with its Louis XV grande cuvée. - Champagne Philipponnat (Mareuil sur Aÿ), which owns the prestigious Clos des Goisses, with wines also available on selective retail markets as well as in leading restaurants. |
LANSON-BCC Nicolas Roulleaux Dugage Tel: +33 3 26 78 50 00 [email protected] CALYPTUS Cyril Combe Tel: +33 1 53 65 68 68 [email protected] |
| - Champagne Alexandre Bonnet (Les Riceys), owner of a vast vineyard (wine sold in traditional sectors). |