Consolidated revenues for the first half of 2019 came to €79.47m, versus €88.20m, down -9.9%, compared with +3.7% growth for the first half of 2018. Excluding the brokerage subsidiary, whose activity is traditionally subject to fluctuations, consolidated revenues represent €77.94m for the first half of 2019, compared with €86.98m (-10.4%).
Exports generated 47.6% of revenues at June 30, 2019, compared with 44% at June 30, 2018. This performance reflects the lower level of business for the Group's Maisons in France, combined with sales growth for several European destinations and the UK in particular, where the Group has significant longstanding market shares.
EBITcame to €13m, compared with €1.90m for the first half of 2018.
Financial income and expenses came to -€1.93m, compared with -€1.88m.
Net income totaled -€1.18m, compared with €0.17m at June 30, 2018.
Consolidated balance sheet
Shareholders' equityrepresents €277.15m, compared with €271.08m at June 30, 2018.
Net financial debt came to €547.18m, compared with €525.59m at June 30, 2018. In addition to the interest acquired in the vineyard real estate company La Croix d'Ardillères in November 2018 for €8m, 90% of this debt concerns the aging of a stock of wine for over 3.5 years on average, which is an essential part of the Champagne wine production process. Gearing represents 1.97, compared with 1.94 at June 30, 2018.
Outlook
Due to the seasonality of Champagne sales, which has increased in 2019, these results cannot be extrapolated over the full year. As visibility for the end of the year is still limited, the Group is not releasing any forecasts for the full year, but it is important to note that the last quarter of the calendar year represents nearly 50% of sales.
Additional information
The consolidated half-year financial statements have been subject to a 'limited' review by the statutory auditors (Grant Thornton and KPMG). The half-year financial report, approved by the Board of Directors on September 12, 2019, is available on the Group website: www.lanson-bcc.com.
2019 full-year revenueswill be released on Thursday January 30, 2020 (after close of trading).
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Lanson-BCC SA published this content on 12 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2019 16:01:01 UTC
Lanson-BCC is a group of eight Champagne Houses, known for their wines and benefiting additional customer:
- Champagne Lanson (Reims): 85% sold internationally;
- Champagne Chanoine Frères (Reims): sold in supermarkets, known for his Czarina Cuvee;
- Champagne Boizel (Epernay): distributed in BtoC in France, and present internationally through traditional networks;
- Champagne De Venoge (Epernay): sold on selective distribution;
- Champagne Besserat de Bellefon (Epernay): distributed through traditional networks;
- Champagne Philipponnat (Mareuil sur Ay): owner of Clos des Goisses sold in selective distribution;
- Maison Burtin (Epernay): provider of the great European distribution and producer of Champagne Alfred Rothschild;
- Domaine Alexandre Bonnet (Les Riceys): owner of a vast vineyard, sold through traditional networks.
LANSON-BCC 
