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Drinks

Champagne House Vranken-Pommery Monopole Sees First Half Sales Up 4.9%

By Steve Wynne-Jones
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Champagne House Vranken-Pommery Monopole Sees First Half Sales Up 4.9%

Champagne house Vranken-Pommery Monopole has reported a 4.9% increase in consolidated sales in the first half of its financial year, which it says was in line with expectations.

The Reims-based owner of the Vranken, Pommery & Greno, Heidsieck & Co Monopole, Charles Lafitte and Bissinger & Co champagnes, which also owns a number of wine brands, reported sales of €117.7 million during the period.

It said that the positive performance was achieved in an overall champagne market in which shipment volumes fell by 4.7%, according to Comité Champagne data.

Sales Performance

In France, which accounts for 35% of the group's sales, sales rose by 1.6% in the half year period, with the business reporting a stronger position in the off-trade.

Elsewhere, sales outside France saw a 'positive sales momentum', the group noted, particularly in English-speaking countries and travel retail.

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Operating profit rose by 86.7% in the half-year period, to €11.2 million, compared with €6 million in the first half of 2022.

Net financial debt was again reduced by €1.5 million to €701.2 million, it added.

Full-Year Forecast

For full-year 2023, Vranken-Pommery Monopole is maintaining its sales growth forecast of 5%, it noted, adding that harvesting is underway in the group's four core production areas.

In its core Champagne production area, it expects that the appellation yield of 11,400 kg/ha will be reached this year.

In Provence, harvesting is underway at Château La Gordonne, where the maximum AOP Côtes de Provence yield of 50 hl/ha will be reached, while in Camargue, yields are up 5%. Finally, in Portugal's Douro Valley, yields are expected to be 12% to 15% up on 2022, the group added.

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