Financial press release
Results for the financial year 2021-2022
The financial statements for the 2021-2022 financial year, which ended on
The main audited consolidated financial data:
In €m At | FY 2019-2020 (N-2) ( | FY 2020-2021 (N-1) ( | FY 2021-2022 ( | Change vs FY N-1 | Change vs FY N-2 |
Champagne sales | 231.3 | 184.7 | 292.8 | + 58.6% | + 26.6% |
Group turnover | 242.4 | 195.2 | 305.6 | + 56.6% | + 26.1% |
Operating profit | 41.2 | 41.3 | 77.0 | + 86.4% | + 86.9% |
Operating margin % (*) | 17.8% | 22.4% | 26.3% | + 3.9 pts | + 8.5 pts |
Net profit (Group share) | 23.7 | 25.2 | 50.2 | + 99.0% | + 111.9% |
Earnings per share (in Euros) | €3.99 | €4.25 | €8.49 | + €4.24 | + €4.50 |
Operating cash flow (**) | + 14.3 | + 3.6 | + 69.2 | + 65.6 | + 54.9 |
* Margin calculated on champagne sales only
** Cash flow from operations - net investments
Commenting on the full-year results, Mr
"In a champagne market that is experiencing strong growth in shipments and despite the tensions linked to the conflict in
Change in turnover:
During the period from
During the same period, the Group experienced strong growth in sales volume of +58.6% compared to FY N-1 and +26.6% compared to FY N-2. This performance, supported by the strong market recovery, was based on the strength of the Group's brands and the quality of its premium champagnes, which recorded market share gains. Turnover (champagne sales) for the year was thus up sharply, standing at €292.8 million at current exchange rates, with a positive price/mix effect of +4.4% vs. FY N-1 and +11.9% vs FY N-2.
Change in the result:
During the period from
Change in operational cash flow and the financial structure:
Operating cash flow for the period showed a strong increase of +€65.6 million compared to FY N-1. This performance is linked to the growth of the business and to the control of working capital requirements, particularly inventory management.
The elements of the consolidated balance sheet for the year ended
(*) Net debt: financial debt and other non-current debt + current financial debt - available cash
Outlook
In a business context marked by the strength and intensity of the recovery in champagne shipments in 2021, the
Faced with the uncertainties arising from the conflict in
- A single business: The production and sale of top-of-the-range Champagnes
- A high-quality supply based on a policy of partnerships
- A portfolio of strong and complementary brands
- Well-controlled global distribution.
Code ISIN : FR 0006864484 Bloomberg : LPE:FP Reuters : LPER.PA | It is part of the composition of the EnterNext© PEA-PME 150 and Euronext® FAMILY BUSINESS indexes. |
Chairman of the Management Board Telephone: +33 3 26 58 91 22 The audit procedures relating to the consolidated accounts for the 2021-2022 financial year have been carried out by the statutory auditors ( All the financial data will soon be published on the https://www.finance-groupelp.com/ |
Appendices
Analysis of champagne turnover
FY 2021-2022 ( | ||
Champagne turnover (M€) | 292.8 | |
Change in % | vs FY N-1 | vs FY N-2 |
Total change | + 58.6% | + 26.6% |
o/w volume effect | + 53.3% | + 14.4% |
o/w price/mix effect | + 4.4% | + 11.9% |
o/w currency effect | + 1.0% | + 0.3% |
Elements of the consolidated balance sheet
Group - in € million | At | At | At |
Shareholders’ equity Group share | 437.0 | 451.9 | 500.7 |
Net debt | 284.0 | 286.9 | 225.1 |
Inventories and work in progress | 552.2 | 569.5 | 553.6 |
Financial agenda
- General Meeting:
20 July 2022 at4:00 p.m. inReims , Hôtel de la Paix, 9 rue Buirette - Half-year results for the 2022-2023 financial year: End of
November 2022 (date to be confirmed)
Tél : 33 (0) 3 26 58 91 22 – Fax : 33 (0) 3 26 58 77 29
R.C.S.
Attachment
- Communique_financier_uk
© OMX, source