Correction: Vranken-Pommery Monopole - Consolidated turnover for 2021: €300.4 million (+23.1%) Growth well above forecasts

January 28, 2022 6:43 AM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

FINANCIAL PRESS RELEASE

Consolidated turnover for 2021: €300.4 million (+23.1%)

Growth well above forecasts

CONSOLIDATED TRURNOVER* CHAMPAGNES PROVENCES & CAMARGUES OTHERS

(PORTS, SPARKLING WINES, MISCELLANEOUS)
€ 300,4 million  € 256,3 million € 25,3 million € 18,8 million
+23,1% +32,6% 17,3% -6,0%


                         compared to 2020 turnover                                                                                                                                                                                                   

                                                           *en cours d’audit

Reims, January 27, 2022

Vranken-Pommery Monopole's 2021 consolidated turnover has rebounded sharply to €300.4 million (+23.1% compared to 2020 and +9.7% compared to 2019).  The turnover is higher than the announced growth forecasts.

Sales to customers increased by 30.9% compared with 2020, with exports now accounting for 67%, compared with 60% in 2020.

This performance is all the more remarkable given that the Covid-19 pandemic continued to disrupt fiscal year 2021, with a 5th wave at the end of the year.

The gradual return to convivial moments, the market share gains achieved in 2020, and the group's local presence with its nine international subsidiaries close to its customers have fostered a strong recovery in sales around the world, from North America to Australia and Japan, and in all European countries.

This strong international presence has benefited the premium and top-of-the-range Champagnes, for which demand has been particularly strong in all countries: Champagne Pommery & Greno with its Louise and Pop cuvées, as well as Champagne Vranken through its Demoiselle and Diamant cuvées.

Champagnes branch

Champagne sales in 2021 amounted to €256.3 million, up 32.6% compared with 2020 and 13.7% compared with 2019. They are driving the Group's overall business.
This momentum is due both to a significant increase in volumes for Vranken, Pommery & Greno and Heidsieck & Co Champagnes, and to the improvement in the product mix in line with strong international development.

At the "Champagne and Sparkling Wines World Championship 2021", Vranken-Pommery Monopole received four new Gold Medals for its cuvées Pommery Apanage Blanc de Blancs, Grand Cru Royal 2004, Cuvée Louise 2004, and Clos Pompadour 2004, and for the latter a special "Best in Class" mention for the second year in a row

Wines branch 

Revenues amounted to €25.3 million, down 17.3% compared with 2020.

In Camargue, the 2021 harvest was penalized by poor technical management of the vineyards, aggravated by unfavorable weather conditions (spring frosts), resulting in an agronomic yield down 22%, which penalized interprofessional sales for the year.

In Provence, a good harvest for Château la Gordonne, which reached the maximum yield of the appellation. This did not contribute to the 2021 turnover, but will provide the means for the increase in packaged sales in 2022 and 2023.

The underperformance in Camargue was partly offset by an improvement in sales of packaged wines from the Grands Domaines du Littoral, confirming the attractiveness of our products to consumers.

Others (Ports, Sparkling Wines, Miscellaneous...)

The situation of the Group's other activities was down 6% compared to 2020, with very contrasting situations depending on the activity:

  • Port and Douro Wines up 12.4%
  • Sparkling Wines up 37.4%
  • Miscellaneous down 31.4%, mainly due to the termination by VPM of its contract to operate the Domaine Pommery and Villa Demoiselle tours, in order to refocus on its core business.

« Société à Mission » (B-Corp)

Last June, Vranken-Pommery Monopole became one of the first "Société à Mission" in France when it was adopted by the General Assembly.

The "raison d'être" of this mission is to promote the high quality of our Champagnes and Wines produced all over the world while preserving the ecosystem in which the Company evolves, for the protection of the environment and biodiversity, sustainable development, the preservation of the identity of the terroirs, the specificity and quality of their products..

Outlook

The interprofessional decisions have been taken to compensate for the deficit of the 2021 harvest in Champagne (marked by spring frosts and mildew) with the release of reserve wines in order to reach the appellation set at 10,000 kg/ha, which will ensure a sufficient supply volume for future sales.

For the year 2021, and given the sales achieved, the group expects an increase in its results. 

For fiscal year 2022, Vranken-Pommery Monopole intends to capitalize on the momentum of the past year to consolidate the positions it has acquired, particularly internationally.

Champagne sales are continuing to show strong momentum, with a 12% increase in January compared with January 2020 (before the start of the pandemic).

Sales of Rosé Wines are expected to increase, with :

  • In the Camargue, the expected return in 2022 to a normal harvest, which will lead to a return of interprofessional sales.
  • The dynamic sales of packaged wines from Provence by Château La Gordonne and from Camargue by Domaine Royal de Jarras.
  • The creation in Provence of the Cuvée Multi-Millésime by La Gordonne, the first vertical blend rosé wine guaranteeing a constant and qualitative taste.

The group is continuing to deploy its strategy to enhance the value of its brands and products with the aim of creating sustainable value. It will rely on its distribution network in France and abroad to promote the quality and specificity of its products, and to enhance the value of the terroirs in which it is present through the strength of its brands.

Next communication

Publication of 2021 annual results : March 31, 2022 after the close of trading

About Vranken-Pommery Monopole

Vranken-Pommery Monopole manages 2,600 hectares of land, owned outright or under lease and spread over four vineyards in Champagne, Provence, Camargue and Douro. The group’s wine-making activities range from production to marketing, with a strong commitment to the promotion of terroirs, sustainable wine-growing and environmental conservation.
Its brand portfolio includes:

  • the Vranken, Pommery & Greno, Heidsieck & Co Monopole, Charles Lafitte and Bissinger & Co champagnes;
  • the Rozès and Sao Pédro port wines and the Terras do Grifo Douro wines;
  • the Domaine Royal de Jarras and Pink Flamingo Camargue wines and the Château La Gordonne Provence wine;
  • the Sparkling wines, the Louis Pommery California, Louis Pommery England, Brut de France and Pink Flamingo sparkling wines.

Vranken-Pommery Monopole is a company listed on NYSE Euronext Paris and Brussels.
(code "VRAP" (Paris), code "VRAB" (Brussels); ISIN code: FR0000062796).

     Contacts

Vranken-Pommery Monopole :
Franck Delval, Directeur des Contrôles Financiers
+33 3 26 61 62 34, [email protected]
Presse
Laurent Poinsot, +33 1 53 70 74 77, [email protected]
Caroline Simon, +33 1 53 70 74 65, [email protected]
   

Attachments




Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Globe Newswire, Press Releases