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Lanson-BCC — Earnings Release 2009
Feb 9, 2010
1470_iss_2010-02-09_33e91be8-884e-48f9-9f68-01590a16e2bb.pdf
Earnings Release
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PRESS RELEASE
2009 REVENUES: 276.04 MILLION EUROS
Reims, February 9th, 2010 – 5:45 pm - In a champagne wine market affected by a difficult economic environment, BCC recorded 276.04 million euros in consolidated revenues over 2009, down 7.2% at constant exchange rates.
Business developments
Excluding the brokerage subsidiary CGV, whose activity is traditionally subject to fluctuations, consolidated revenues came to 264.05 million euros, down 7.6% at constant exchange rates. These figures reflect a satisfactory performance for the Group compared with the champagne industry as a whole, which saw its revenues contract 17% (source: CIVC).
Excluding CGV, consolidated revenues totaled 121.66 million euros for the fourth quarter of 2009, down 8.6%. Including CGV, which operates on the entry-level segment, 2009 fourth quarter consolidated revenues came to 131.43 million euros, a drop of 3.1% at constant exchange rates.
| In million euros | 2009 | 2008 | Change at constant exchange rates |
|---|---|---|---|
| 9 months | 144.61 | 164.12 | -10.7% |
| th quarter 4 |
131.43 | 136.53 | -3.1% |
| Year to December 31st | 276.04 | 300.65 | -7.2% |
BCC, present on all the niches in the Champagne market, has achieved a slight increase in its volumes. Despite the overstocking seen among distributors at the start of 2009, which particularly undermined shipments for the first half of the year, BCC has further strengthened its positions in France (61% of volumes) and limited the drop in its export sales volumes to 8.2%.
The commercial performances achieved by the Group's different Houses have varied considerably depending on their customer base, price positioning and export exposure. Indeed, premium vintages such as the Clos des Goisses (Champagne Philipponnat), cuvée Louis XV (Champagne de Venoge) or Cuvée des Moines (Champagne Besserat de Bellefon) have sold less well than entry-level wines (Maison Burtin); traditional sales to restaurants and wine stores have been hit harder than mass retail sales (Champagne Chanoine and Maison Burtin); Champagne Lanson's sales have been less dynamic on export than for France; Champagne Boizel's direct sales to consumers (mail-order) have performed well.
2009 earnings
2009 earnings will be released after close of trading on March 23rd , 2010. As already announced by BCC, the volumes sold by the Group will not make it possible to offset the full impact of the deterioration in the price mix on EBIT for 2009.
Outlook
BCC is reasserting its long-term value development strategy. The current global economic situation is making its implementation complicated, but has not called the Group's foundations themselves into question. The quality of its Wines, the strength of its national and international Brands, the effectiveness of its production tools, the experience of its teams and the responsible approach underpinning its management mean that the Group has genuine credibility.
BCC fully owns seven Champagne Houses
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- Champagne Lanson (Reims), the prestigious international brand.
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- Champagne Boizel (Epernay), French mail-order market leader, with wines distributed in the traditional sector for international markets.
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- Champagne Chanoine Frères (Reims), wines intended primarily for the mass retail market (Chanoine brand), notably with the Tsarine Grande Cuvée range.
- Champagne Philipponnat (Mareuil sur Aÿ), which owns the prestigious Clos des Goisses, with wines available on selective retail markets.
- Champagne De Venoge (Epernay), also sold on selective retail markets, notably with its Louis XV grande cuvée.
- Champagne Alexandre Bonnet (Les Riceys), owner of a vast vineyard (wine sold in traditional sectors), as well as the Ferdinand Bonnet brand.
- Maison Burtin (Epernay), a mass retail supplier and owner of the Besserat de Bellefon brand, distributed through traditional networks (restaurants, wine stores).
Eurolist B - ISIN: FR0004027068- Reuters: BCCP.PA- Bloomberg: BOZ FP www.boizelchanoine.com
CONTACTS
BOIZEL CHANOINE CHAMPAGNE Nicolas Roulleaux Dugage Tel: +33 3 26 78 50 00 Email: [email protected] CALYPTUS Cyril Combe Tel: +33 1 53 65 68 68 Email: [email protected]