The strong recovery of the market, after the health crisis, is driven by international markets and demand for prestige cuvées, two niches in which Laurent-Perrier is well positioned.
Laurent-Perrier sales growth, better than expected, reflects the strong recovery of the champagne market | Photo credits: Lukas Gourmet
Laurent-Perrier (+6%) superforms the Paris Stock Exchange this Friday, after the publication by the champagne merchant of its 2021-2022 turnover, better than expected. Sales of the Tours-sur-Marne group totaled 305.6 million euros during the financial year ended at the end of March, up almost 57% over one year (+26% compared to 2019-2020, before the health crisis), where the consensus of analysts expected 271 million.
Demand for champagne is strong, sales volumes have increased by more than 53%, driven by the international market, a major consumer of top-of-the-range cuvées (Ultra Brut, Rosé, Grand Siècle). “As expected, the mix/price is positive at 4.4%, no doubt supported by the launch of vintages and price increases in the second half of the year”also notes the analyst Fatma-Agnès Hamdani, at Oddo BHF.
The environment for the new exercise is more complicated. “Faced with the uncertainties arising from the conflict in Ukraine, the inflationary tensions and the resulting monetary policies, all of which call for a great deal of caution, the Laurent-Perrier group is continuing, with vigilance and confidence, the execution of its 2021 business plan. -2025 and maintains the course of its value strategy. » A message of caution without surprise.
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