Vranken-Pommery Monopole – 2024 First-Half Turnover- Consolidated turnover € 108 million (-5,8%) First half on track in a declining market

FINANCIAL PRESS RELEASE

Consolidated turnover € 108 million (-5,8%)

First half on track in a declining market

*under audit

  
Reims, July 18, 2024

Vranken-Pommery Monopole’s H1 2024 sales came to €108m (-5.8% on H1 2023). This marks the 3rd consecutive year of sales in excess of € 100 million, and is 24% higher than in 2019 (the pre-covid reference year)

Sales are stable in France, but down 8.7% on export, with a marked decline in certain European countries such as Germany and Italy, and Japan due to the devaluation of the yen.

As a result, exports accounted for 64% of half-year consolidated sales, compared with 67% in the first half of 2023.

Champagne Branch

Champagne sales amounted to €94 million, down 6.7% on H1 2023. Volumes were down across the board in all markets, but price increases cushioned the impact.

The Group is pursuing its value-creation strategy based on the quality of its products, its creativity and its strong historical position in France.

To illustrate this ambition, in 2024 Champagne Pommery & Greno presented a new cuvée to mark the 150th anniversary of the creation of Brut in 1874 by Madame Pommery : Pommery Grand Apanage 1874. This multi-millimeter Brut, dedicated to gourmets, offers lovers of great Champagnes a new “Pommery Experience #1”, that of taste and the pleasure of tasting.

Wine, Ports and Sparkling Wines Branch

Sales were stable at €14 million.

Poor weather conditions in the regions where rosé wines are most widely consumed had a negative impact on consumer buying decisions, resulting in a 20% drop in sales.

Sales of Ports and Douro Wines rose by 3.5%, thanks to strong export momentum.

Sparkling Wines sales were up in France and Europe, but showed more mixed performances outside Europe.

Société à Mission « la Vérité du Terroir »

The “Comité de Mission” has chosen 2024 as the year to preserve biodiversity.

In all our vineyards and on our production sites, initiatives aimed at protecting soil, conserving water resources and preserving flora and fauna are being promoted both within and outside the Group.

Concrete actions have already been implemented:

• Restoration of low stone walls that provide shelter for certain plant species and small reptiles.
• Maintenance of “roubines” in the Camargue region
• revegetation of embankments
• Installation of perches for birds of prey
• Use of plant cover in vineyards to avoid the use of herbicides
• Planting hedges to attract animals and insects and create biodiversity corridors
• The installation of 30 beehives connected to 10 sites through the Bee’iodiv project.

Other initiatives involving our stakeholders are in the pipeline, such as Vert Cot’Eau 2.0, in partnership with the Agence de l’Eau Seine-Normandie and Avize Viti Campus, with the ambition of encouraging the establishment of biodiversity by mobilizing the various partners present on the same hillside. The rationale behind this collective project is to create an ecological link between the green (forest, vineyards, meadows) and blue (rivers) webs in the area.

Forecast

In Champagne, weather conditions have been particularly unfavorable since the start of the year: spring frosts, coulure and millerandage at flowering, and very high mildew pressure due to heavy rainfall. These climatic events are bound to limit yields for the 2024 harvest.

Against this backdrop, the Group has decided to move towards more selective distribution, in order to better market its leading brands Cuvée Louise by Pommery, and Cuvée Diamant by Vranken.

In the Camargue, Provence and Upper Douro regions, harvests are currently at normal levels.

Next communication

Publication of 2024 H1 results : September 12, 2024 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

Attachments

• Financial Press Release VPM H1 2024 turnover
• Financial Press Release VPM H1 2024 turnover