Marie Brizard Wine & Spirits: Sales for 3rd Quarter of 2021
Charenton-le-Pont, 28 October 2021
Sales for
3rd Quarter
of 2021
- Sales for
the first nine months
at
€121.9M
(-3.1%)
at constant rate but up 3.0% excluding
non-recurring
items(1)
- Sales up
2.7% in the third quarter to €40.8m- France:
continued improvement with a sales contraction limited to -1.2%, or
€17.7m, after a decrease of -2.0% in Q2
2021- International: sales growth of +5.8% to
€23.1m after a decline of -7.1% in Q2 2021
- Good
contribution of North America and Brazil
to the sales recovery
- Tensions at
several levels of the
international supply chain, whose potential net impact on
the 4th quarter
cannot yet be assessed,
but which are addressed by targeted
measures
- Continued
focus on profitability of sales
volumes
(1) Adjusted for the positive one-off effect of
bulk ethyl alcohol sales in Lithuania in 2020 and of the stock
pipeline build linked to the new third-party distribution agreement
introduced in the USA on 1st January 2020
NB: Unless otherwise stated, any growth in
turnover mentioned is quoted at a constant exchange rate and
consolidation scope.
Marie Brizard Wine &
Spirits (Euronext: MBWS) today announces its unaudited
turnover for the 3rd quarter 2021 covering the period from 1st July
to 30 September 2021, and for the first nine months of 2021.
NB: In accordance with the Group’s new
management structure implemented on 1 January 2021, the Group’s
turnover is now presented as two Clusters, France and
International, in order to reflect the evolution of business after
the different disposals in 2019 (including the business’ in Poland,
sold on 21 October 2020 and Moncigale, sold on 16 February
2021).
Sales*
at end September 2021
in
€M |
9
months 2020 |
Organic growth |
Exchange rateeffect |
9 months 2021 |
Organic growth(excl. exchange
rate) |
Published growth (inc. exchange
rate) |
France |
56.2 |
0.6 |
0.0 |
56.8 |
1.0% |
1.0 % |
International |
70.4 |
-4.5 |
-0.8 |
65.1 |
-6.4% |
-7.6
% |
MBWS TOTAL |
126.6 |
-3.9 |
-0.8 |
121.9 |
-3.1% |
-3.8
% |
* Application of IFRS 5 ‘Non-current Assets Held
for Sale and Discontinued Operations:’ pre-consolidation
adjustments relating to the businesses sold (Poland and
Moncigale)
Sales for Q3
2021
in
€M |
Q3 2020 |
Organic growth |
Exchange rateeffect |
Q3 2021 |
Organic growth(excl. exchange
rate) |
Published growth (inc. exchange
rate) |
France |
17.9 |
-0.2 |
0.0 |
17.7 |
-1.2% |
-1.2% |
International |
21.9 |
1.3 |
-0.1 |
23.1 |
5.8% |
5.4% |
MBWS TOTAL |
39.8 |
1.1 |
-0.1 |
40.8 |
2.7% |
2.5% |
* Application of IFRS 5 ‘Non-current Assets Held
for Sale and Discontinued Operations:’ pre-consolidation
adjustments relating to the businesses sold (Poland and
Moncigale)
Details per Cluster
France
The French Cluster generated a turnover of
€56.8m for the first nine months of 2021, up 2% compared to 30
September 2020, with a slight decline of -1.2% in the third quarter
of 2021.
In a slightly decelerating spirits market where
competition remains fierce, the Group has continued its strategy of
favouring value over volume, while optimising its commercial policy
in each distribution channel.
With hotels, bars and restaurants closed during
the first half of the year, the On-trade business gradually picked
up in the third quarter, to the detriment of Off-trade sales. The
under-12 Blended Scotch market was particularly affected, with a
-1.3% decline recorded over the period. The recovery of the
On-trade business was however slowed down by the implementation of
the “Health Pass”.
In this context, the Group's brands nevertheless
broadly maintained their position (except for a slowdown in William
Peel volumes) or gained market share, such as Sobieski, thanks to
strong targeted promotional support.
At end September, the France Cluster also
continued to enjoy the contribution of the Irish Whiskey brand,
Paddy, whose distribution was taken over in June 2020.
International
With a third quarter increase of +5.8%, the
International Cluster's turnover for the first nine months of 2021
stands at €65.1m, limiting its decline to -6.4% compared to the end
of September 2020. The main contributors to this turnaround in
growth are the Americas (USA, Canada and Brazil).
Adjusted for one-off positive mechanical effects
in the first half of 2020 (i.e. the impact of the new distribution
agreement in the USA leading to the build-up of initial stocks and
very strong bulk sales of hydro-alcoholic gel in Lithuania), the
International Cluster's adjusted sales would be up +4.7% at end
September 2021.For the first nine months of the year, sales trends
in Western Europe remained in line with that of the first half. In
Benelux, the strategy favouring value over volume led to a slight
contraction in turnover. These factors were partially offset by the
reopening of the On-trade in the United Kingdom, the main market
for the Marie Brizard brand. The recovery of other markets such as
Denmark, which began in the second quarter, continued in the third
quarter.
As was the case in the first half of the year,
turnover in the Baltic States at the end of September was still
impacted by a sharp decline in the bulk sales market. In the third
quarter, a slight upturn in activity and a proactive policy of
price increases nevertheless mitigated the decline in turnover,
along with a slight recovery of branded sales to its export
markets. This quarter also marked a recovery in activity in
Bulgaria, which continues to benefit from a subcontracting
agreement started in July 2020. In Poland, in line with the first
half of the year, the third quarter saw a good level of sales from
William Peel to the Group's former subsidiary.
In the USA, the third quarter saw the
materialisation of favourable elements that partially offset the
unfavourable trend of the first half of 2021 compared to 2020, with
an improvement in Sobieski's sales and a good dynamic for local
distributor sell-out of Sobieski and Gautier brands compared to
some competitor brands.The Gautier and Sobieski brands also
recorded growth in Canada. Business in Brazil was driven by sales
of Cutty Sark and local brands, as well as by higher prices since
mid-2021. At the end of September, sales in this region were still
affected by the comparison with the last year base and an
unfavourable product mix in the USA.
The Asia-Pacific region has seen contrasting
developments since the beginning of the year, depending on the
country. Japan remains in sharp decline under the persistent effect
of Covid. In Australia, after very strong growth in the first half
of the year, particularly for the Marie Brizard brand, sales fell
slightly in the third quarter which suffered from a high base for
comparison in 2020 and a transfer effect between off and on-trade,
which was only partially offset by the rebound in Korea and
Taiwan.
Financial
calendar : Fourth quarter and full year 2021
turnover: 17 February 2022
About Marie Brizard Wine & Spirits
Marie Brizard Wine & Spirits is a Wine and
Spirits Group with operations in Europe and the United States.
Marie Brizard Wine & Spirits is notable for its expertise, its
combination of brands with a long tradition and a corporate spirit
firmly focused on innovation. From the birth of the Maison Marie
Brizard in 1755, the Marie Brizard Wine & Spirits Group has
developed its products in line with modernity while respecting
their historical origins. Marie Brizard Wine & Spirits is
committed to offering its customers brands that are trustworthy,
bold and full of flavours and experiences. The Group now has a rich
portfolio of leading brands in their market segments, including
William Peel, Sobieski, Marie Brizard and Cognac Gautier. Marie
Brizard Wine & Spirits is listed on Euronext Paris Compartment
B (FR0000060873 - MBWS) and is part of the EnterNext© PEA-PME 150
index.
ContactImage Sept Claire Doligez-
Laurence Maurycdoligez@image7.fr – lmaury@image7.frTel: +33 1 53 70
74 70 |
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