Earnings release
Page 1
DOMAINE LAURENT-PERRIER – 51150 TOURS-SUR-MARNE – FRANCE TEL.: 33 (0) 3 26 58 91 22 – FAX: 33 (0) 3 26 58 77 29 LAURENT-PERRIER, S.A. A PUBLIC LIMITED COMPANY WITH A MANAGEMENT BOARD AND SUPERVISORY BOARD (SOCIETE ANONYME A DIRECTOIRE ET CONSEIL DE SURVEILLANCE) WITH A CAPITAL OF 22,594,271.80 EUROS R.C.S. REIMS B 335680096 - SIRET 335 680 096 00021 – APE 6420Z CHAMPAGNE LAURENT-PERRIER – CHAMPAGNE SALON – CHAMPAGNE DELAMOTTE – CHAMPAGNE DE CASTELLANE L A U R E N T - P E R R I E R G r o u p Tours-sur-Marne, 23 May 2025 Financial press release Results for the financial year 2024-2025 Laurent-Perrier: Annual result down, but profitability remains high The financial statements for the 2024-2025 financial year, ended 31 March 2025, were approved by the Management Board at its meeting on 20 May 2025 and reviewed the following day by the Supervisory Board, chaired by Mr Patrick THOMAS. Key consolidated audited financial data: In millions of Euros At 31 March 2025 Financial year 2023-2024 (N-1) (1 April 2023 - 31 March 2024) Financial year 2024-2025 (1 April 2024 – 31 March 2025) Change vs FY N-1 Champagne sales 303.5 282.9 - 6.8% Group revenue 312.5 294.4 - 5.8% Operating profit (loss) 95.1 74.4 - 21.8% Operating margin % (*) 31.3% 26.3% - 5.0 pts Net profit (loss) attributable to the Group 63.6 47.4 - 25.4% Earnings per share (in Euros) €10.74 €8.02 - €2.72 Operating cash flow (**) + 0.9 - 11.2 - 12.1 * Margin calculated on champagne sales only ** Cash flow from operations - net investments
Page 2
Commenting on the annual results, Mr Stéphane Dalyac, Chairman of the Management Board, stated: "In a context of a slowdown in the champagne market compared to previous years, the Group recorded an operating profit of €74.4 million for the 2024-2025 financial year. Despite a decline from the record performance achieved in 2023-2024, the quality of our wines, the control of our distribution, and the investments made to support our brands have enabled us to maintain a high level of operating margin. The Laurent-Perrier Group therefore continues to pursue its strateg y, drawing on the excellence of its Champagnes, the expertise of its teams, the strength of its brands, and the control of its distribution." Change in revenue: During the period from 1 April 2024 to 31 March 2025, the global Champagne market recorded a volume decline of -5.8% compared to N-1. In this context, the Group experienced a -6.0% decrease in sales volumes over the same period compared to N-1. Group revenue (Champagne sales) for the year declined by 6.8%, amounting to €282.9 million at current exchange rates. Change in profit: During the period from 1 April 2024 to 31 March 2025, the Group continued to invest for the long term in support of its brands and in business development. This investment in value creation has enabled the Group to maintain a high operating margin of 26.3% at current exchange rates. Net profit attributable to the Group amounted to €47.4 million at current exchange rates, representing 16.1% of consolidated Group revenue. Changes in operating cash flow and financial structure: Operating cash flow stood at -€11.2 million for the 2024 -2025 financial year, compared to +€0.9 million the previous year. This decline of -€12.1 million was mainly due to a -€17.0 million decrease in funds from operations, in line with the drop in net profit. The consolidated balance sheet as at 31 March 2025 once again reflects the strength of the Group’s financial structure. Equity attributable to the Group stood at €627.3 million, while net debt (*) totalled €220.2 million, including €56.9 million in c ash and cash equivalents. As a result, the gearing ratio remains at an excellent level, at 0.35, compared to 0.32 as at 31 March 2024. (*) Net debt: non-current and current financial liabilities and other non-current liabilities, minus cash and cash equivalents.
Page 3
Outlook: In a period marked by significant geopolitical and economic uncertainty, the Laurent -Perrier Group moves forward with caution yet confidence, continuing to implement its business plan and maintaining the course of its value strategy, built on four key pillars: - A single business dedicated to the creation and marketing of exceptional Champagne wines, - A portfolio of renowned and complementary brands, - Quality sourcing supported by a policy of solid partnerships, and - Well-controlled worldwide distribution. Laurent-Perrier is one of the rare family groups of champagne houses which is listed on the stock market, and which is exclusively dedicated to ch ampagne, and focused on the high -end market. It has a large product portfolio renowned for its quality, based around the Laurent -Perrier, Salon, Delamotte and Champagne de Castellane brands. ISIN code: FR 0006864484 Bloomberg: LPE:FP Reuters: LPER.PA Laurent-Perrier belongs to compartment B of Euronext. Main index CAC All Shares It is included in the composition of the EnterNext© indices PEA-PME 150 and Euronext® FAMILY BUSINESS. Stéphane DALYAC Laurent-Perrier Group Telephone: +33 3 26 58 91 22 The audit procedures relating to the consolidated accounts for the 2024-2025 financial year have been carried out by the statutory auditors (KPMG and PwC) and the audit report is being issued. All the financial data will soon be published on the Laurent-Perrier Group's financial website: https://www.finance-groupelp.com/
Page 4
Notes Champagne revenue analysis FY 2024-2025 (1 April 2024 - 31 March 2025) Champagne revenue (€m) 282.9 Change in % vs. FY N-1 Total change - 6.8% o/w volume effect - 6.0% o/w price/mix effect - 1.4% o/w currency effect + 0.6% Elements of the consolidated balance sheet Group - in € million As at 31 March 2024 As at 31 March 2025 Shareholders' equity Group share 597.6 627.3 Net debt 191.6 220.2 Inventories and work-in- progress 644.1 679.3 Financial agenda General Meeting: 10 July 2025 at 4:00 p.m. in Reims, Hôtel de la Paix, 9 rue Buirette Half-year results for the 2025-2026 financial year: End of November 2025 (date to be confirmed)