Press release date:

26/01/2023 - 5:45pm

Reims, Thursday January 26, 2023 - 5:45pm

Following a good year in 2021, marking a post-health crisis recovery, the global Champagne wine market made further progress in 2022, with volumes climbing +1.6% to 326 million bottles shipped and record revenues of over €6bn. France (42.5% of volumes) is down -1.7%, while exports (57.5% of volumes) are up +4.3% (CIVC estimate).

In this favorable environment, the LANSON-BCC Group recorded a controlled contraction in its volumes by -3.7%, with +6.7% consolidated revenue growth to €289.2m. Excluding the brokerage subsidiary, whose activity is traditionally subject to fluctuations, the Group's consolidated revenues are up +7.0% to €282.7m. Revenue growth came to +2.4% in France and +11.3% for exports.

Revenues (€m)

2022

2021

Change (%)

H1

115.0

99.1

+ 16.0

H2

174.2

172.0

+ 1.3

Year to December 31

289.2

271.1

+ 6.7

The governance objective rolled out across our Maisons since 2019, and presented in our previous press releases, is to create more value through premiumization rather than through volumes. This policy, which is essential faced with the continued increases in grape prices, was adversely affected in 2020 by the pandemic. It received a positive response from the markets in 2021 and 2022, and will continue moving forward in 2023 and beyond.

The progress with business in 2023 will be driven exclusively by the continued improvements in the product/destination mix, with volumes still restricted following the small harvests in 2020 and 2021. The outstanding 2022 harvest will only see volumes pick up again in three to four years.

2022 full-year earnings will be released on Tuesday March 14, 2023 (after close of trading).

Attachments

Disclaimer

Lanson-BCC SA published this content on 26 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2023 17:02:02 UTC.