Cibi e Bevande
Vranken-Pommery Monopole - 2021 ANNUAL RESULTS : Strong growth in results
ANNUAL RESULTS 2021
Strong growth in results
Reims, March 31, 2022
The Board of Directors of Vranken-Pommery Monopole met on March 31, 2022 under the chairmanship of Mr. Paul-François Vranken, and in the presence of the Statutory Auditors, to approve the Group's financial statements for the year 2021.
The good results for 2021 reflect the initial effects of the policy implemented by the Group since 2019.
Strong growth in results
The process of auditing and issuing the audit report for the certification of the consolidated accounts is being finalised.
Vranken-Pommery Monopole's consolidated turnover for 2021 amounted to €301.2 million , representing growth of + 23.5% driven by the Champagne business.
Relying on its network of international subsidiaries, Pommery & Greno and Vranken Champagnes have experienced strong growth.
Exports now represent 67% of sales to customers.
With EBITDA of €48 million in 2021 (€33.7 million in 2020), the Group confirms its value strategy.
Financial structure
Data in €M
The financial structure has been consolidated with shareholders' equity of
€384.3 million , or 31% of the balance sheet total, and net financial debt reduced by €30.1 million to €653.5 million at 31 December 2021.
Restated for the €18.3 million related to the application of IFRS 16, net financial debt amounts to €635.2 million, fully covered by inventories of €645.4 million.
The Group has anticipated the €75 million bond maturities in 2022 by setting up a €60 million 10-year USPP on December 15, 2021, thus enabling it to diversify its sources of financing and confirm its long-term attractiveness to international institutional investors.
Société à Mission (B-Corp)
During the 2021 fiscal year, the Vranken-Pommery Monopole Group has set up its Mission Committee in charge of defining and supervising the operational implementation of the "Raison d'Etre" adopted at its General Meeting on June 3, 2021.
The Group's "Raison d'Etre" is to promote the highest quality of our Champagnes and Wines produced throughout the world while preserving the ecosystem in which the Company operates, for the protection of the environment and biodiversity, sustainable development, preservation of the identity of the terroirs, the specificity and quality of their products.
The Mission Committee has defined the main orientations of its action, which will focus on
Outlook
At the end of March 2022 , the Group's sales were up by 20% . Pommery & Greno and Vranken Champagnes contributed primarily to this trend, both in France and internationally.
For fiscal year 2022 , Vranken-Pommery Monopole expects to grow its turnover by at least 5%.
To support this growth objective, the Group :
Dividend
At its Annual General Meeting on June 2, 2022, Vranken-Pommery Monopole will propose the payment of a dividend of €0.8 per share for the 2021 fiscal year. This dividend will be paid on July 12, 2022 and would correspond to a gross yield of 4.5% based on the share price on March 29, 2022.
Post closing event: Russia/Ukraine conflict since February 24, 2022
The conflict between Russia and Ukraine continues and the situation is evolving rapidly.
Given the recent and rapid escalation of events and the announcement of new sanctions, it is too early to determine the potential impact of this conflict in terms of indirect effects on the Company's results of operations in fiscal 2022. The direct impact will be limited: the Company's activities in Ukraine and Russia represented only 0.3% of its revenues in 2021 .
Faithful to its values of innovation and sustainable value creation , Vranken-Pommery Monopole continues to deploy its strategy of promoting its terroirs, its brands and products throughout the world, and their marketing through its integrated distribution network in France and abroad.
Next release
Publication of the 2021 Universal Registration Document: April 14, 2022.
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:
Vranken-Pommery Monopole is a company listed on NYSE Euronext Paris and Brussels.
(code "VRAP" (Paris), code "VRAB" (Brussels); ISIN code: FR0000062796).
Contacts
Attachment
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti