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Laurent-Perrier — Earnings Release 2013
Feb 14, 2013
1473_iss_2013-02-14_4e41c288-2a18-42fa-9ea7-e4ad6d514e9a.pdf
Earnings Release
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L A U R E N T - P E R R I E R
Financial Press Release
Laurent-Perrier announces modest turnover growth in first nine months of FY 2012-2013
Tours-sur-Marne, 12 February 2013
In the first nine months of its 2012-2013 financial year, the Laurent-Perrier Group recorded a 0.5% increase in turnover to 184.1 million euros.
The change, which is positive despite the more challenging business environment in Europe, includes turnover of 88.5 million euros in the three months to 31 December 2012.
The 2.8% fall-off in activity in the third quarter should be analysed taking a high comparison base into account, as year-earlier third-quarter activity saw an increase of 8.2%.
As in the second quarter, development of the Laurent-Perrier brand was held back by a sluggish business climate on its European markets, whereas demand from outside Europe remained upbeat, partly thanks to strong performance in the United States and Japan.
The Laurent-Perrier brand's two value indicators continued to improve during the quarter. The export ratio advanced two points to 72.3% and the ratio of premium champagne in the brand turnover gained 1.7 percentage points at 37.2%.
The price/mix effect, which had sharply increased in the third quarter of the last financial year (by 8.3%), was down 2.7% this time, largely due to a less positive brand mix.
Outlook
During the fourth quarter, the Laurent-Perrier brand should see renewed growth, driven by strong performance in non-European markets, which traditionally represent a greater proportion of brand turnover at this time of year.
The recent strengthening of the euro against most currencies is likely to lead to a considerably less favourable currency effect than in the first months of the current financial year.
Over the financial year as a whole, the Group can confirm its deleveraging objective on the strength of positive second-half cash-flows. It will, therefore, continue to strengthen its balance sheet.
1
| 2012-2013 | ||||||
|---|---|---|---|---|---|---|
| Q1 | Q2 | H1 | Q3 | 9 Months | ||
| 1 April | 1 July | 1 April | 1 October | 1 April | ||
| – | - | - | - | - | ||
| 30 June | 30 September | 30 September | 31 December | 31 December | ||
| Turnover (€) | 45.5 | 50.0 | 95.5 | 88.5 | 184.1 | |
| Change / Y-1 | 11.0% | - 1.9% | + 3.9% | - 2.8% | + 0.5% | |
| o/w | ||||||
| Volume effect | + 5.8% | - 3.3% | + 0.8% | - 1.3% | - 0.3% | |
| Price/Mix effect |
+ 2.7% | - 0.3% | + 1.0% | - 2.7% | - 0.8% | |
| Currency effect | + 2.5% | + 1.7% | + 2.1% | + 1.2% | + 1.6% |
Laurent-Perrier is one of the few champagne houses listed on the French stock exchange dedicated exclusively to champagne and focused on the premium segment. Laurent-Perrier offers a broad range of products renowned for their quality, and sold under the Laurent-Perrier, Salon, Delamotte, and Champagne de Castellane brands.
ISIN: FR 0006864484 Bloomberg: LAUR FP
Reuters: LPER.PA
Laurent-Perrier belongs to compartment B of Euronext Paris.
It is part of the CAC Mid & Small, CAC Mid 60 and CAC All-Tradable indices
Etienne AURIAU Cyrille BENOIST Chief Financial Officer Corporate Communications Manager Tel: + 33 (0)3.26.58.91.22 Tel: + 33 (0)3.26.58.91.22
www.finance-groupelp.com
Provisional financial timetable
| Annual results for the year ending 31 March 2013: | 28 May 2013 |
|---|---|
| Annual General Meeting of Shareholders: | 9 July 2013 |