Laurent-Perrier: Financial press release

Laurent Perrier Group Tours-sur-Marne, June 03, 2022

Financial hurry Release
results for the fiscal year 2021-2022

Laurent-Perrier announces a sharp increase in its results.

The financial statements for the 2021-2022 financial year, ending March 31, 2022, were approved by the Management Board meeting on May 31, 2022 and examined the same day by the Supervisory Board.

The main audited consolidated financial data:

In €m
As of March 31, 2022
AF
2019-2020 (N-2)
(April 1, 2019 –
March 31, 2020)
AF
2020-2021 (N-1)
(April 1, 2020 –
March 31, 2021)
AF
2021-2022
(April 1, 2021 –
March 31, 2022)
Change vs AF N-1 Change vs AF N-2
Champagne sales 231.3 184.7 292.8 +58.6% +26.6%
Group turnover 242.4 195.2 305.6 +56.6% +26.1%
Operating result 41.2 41.3 77.0 +86.4% +86.9%
Operating margin % 17.8% 22.4% 26.3% +3.9 points
+ 8.5 points Net income (Group share) 23.7 25.2 50.2 +99.0%
+111.9% Earnings per share (in euros) €3.99 €4.25 €8.49 + €4.24
+ €4.50 Operating cash flow (**) + 14.3 + 3.6 +69.2 +65.6

+54.9
* Margin calculated on champagne sales only

** Operating cash flow – net investments

Commenting on the annual results, Mr. Stéphane Dalyac, Chairman of the Management Board, said: “In a champagne market that is experiencing strong growth in shipments and despite the tensions linked to the conflict in Ukraine, the Laurent-Perrier Group has recorded a strong increase in its results. This performance is supported by the global economic recovery following the improvement in the health situation and by the efforts undertaken for several years on the Group’s value policy. The Laurent-Perrier Group is So

maintain its strategy by continuing to rely on the quality of its Champagne wines, the quality of its teams, the strength of its brands and the control of its distribution.” To change

turnover:
During the period from April 1, 2021 to March 31, 2022, the global champagne market experienced significant growth in volume, reaching +34% compared to financial year N-1 and +13% compared to financial year N-2.

Over the same period, the Group experienced strong growth in its sales volume of +58.6% compared to FY N-1 and +26.6% compared to FY N-2. This performance, supported by the strong recovery of the market, is based on the solidity of the Group’s brands and the quality of its premium champagnes, which are recording market share gains. Turnover (champagne sales) for the year was thus up sharply, standing at €292.8 million at current exchange rates, with a positive price/mix effect of +4.4% vs FY N- 1 and +11.9% vs. FY N-2.Modification of the result

:

During the period from April 1, 2021 to March 31, 2022, the Group began the gradual recovery of its long-term investments, in particular in support of its brands and in commercial development. This resumption of investments was closely linked to the need to increase sales and control costs. All of this contributed to the improvement in the Group’s operating margin, which reached 26.3% at current exchange rates. Net income, Group share also rose sharply. It amounts to 50.2 million euros at current exchange rates and thus represents 16.4% of the Group’s consolidated sales. To change inoperational cash flow and financial structure

:
Operating cash flow for the period is up sharply by +€65.6 million compared to fiscal year N-1. This performance is linked to the growth in activity and the control of working capital requirements, in particular inventory management. The items in the consolidated balance sheet for the year ended March 31, 2022 once again demonstrate the solidity of the Group’s financial structure. Equity, Group share, amounted to €500.7 million and net debt

amounted to €225.1 million, including €125.7 million in available cash. Gearing thus improved significantly to reach a historically low level of 0.45, compared to 0.63 at March 31, 2021.

Net debt: financial debt and other non-current debt + current financial debt – available cash

  • Outlook
  • In a context of activity marked by the vigor and intensity of the resumption of champagne shipments in 2021, the Laurent-Perrier Group notes that the annual results published for the 2021-2022 financial year benefited from a context exceptional.
  • Faced with the uncertainties linked to the conflict in Ukraine, the inflationary pressures and the resulting monetary policies, all of which call for great caution, the Laurent-Perrier Group is continuing to execute its 2021-2025 business plan with vigilance and confidence. , and maintains its value strategy, which is based on four pillars:
  • A single business: The development and marketing of high-end Champagnes

A quality offer based on a partnership policy A portfolio of strong and complementary brands Well controlled worldwide distribution.

Laurent-Perrier is one of the rare family groups of champagne houses listed on the stock exchange, exclusively dedicated to champagne, and focused on the high end. It has a wide portfolio of products renowned for their quality, around Laurent-Perrier, Salon, Delamotte and Champagne from

castellane

brands.

ISIN code: FR 0006864484
Bloomberg: LPE:FPReuters: LPER.PA Laurent-Perrier belongs to compartment B of Euronext. CAC All Shares Main IndexIt is part of the composition of the EnterNext ©
PEA-PME 150 and Euronext
®
FAMILY BUSINESS indices.
Stephane Dalyac

Chairman of the Board
Laurent Perrier Group
Telephone: +33 3 26 58 91 22
The audit procedures relating to the consolidated financial statements for the 2021-2022 financial year have been carried out

by the auditors (KPMG and PwC) and the audit report is in the process of being issued.

All financial data will soon be published on the Laurent-Perrier Group’s financial website: https://www.finance-groupelp.com/

Appendices Champagne analysis
turnover
FISCAL YEAR 2021-2022
(April 1, 2021 – March 31, 2022) Champagne turnover (M€) 292.8
To change % vs AF N-1 vs AF N-2
Total change +58.6% +26.6%
of which volume effect +53.3% +14.4%
of which price/mix effect + 4.4% +11.9%

of which currency effect

+ 1.0% +0.3%
Consolidated balance sheet items
Group – in millions of euros
To
March 31, 2020
To
March 31, 2021
To
March 31, 2022 Equity Group sharing
437.0 451.9 500.7 Net debt
284.0 286.9 225.1 Inventories and work in progress

552.2

  • 569.5
  • 553.6

Financial diary
General Meeting: July 20, 2022 at 4:00 p.m. in Reims, Hôtel de la Paix, 9 rue Buirette
Half-year results for fiscal year 2022-2023: End of November 2022 (date to be confirmed)
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, SA A Management Board and Supervisory Board with capital of 22,594,271.80 Euros

RCS Reims b 335680096 – siret 335 680 096 00021 – APE 6420ZChampagne Laurent-Perrier – Champagne Salon – Champagne Delamotte – Champagne deCastellane

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