Laurent-Perrier: Financial Press Release - Results for the first six months of the 2025-2026 financial year
Laurent-Perrier Group Tours-sur-Marne, 28 November 2025
Financial press release
Results for the first six months of the 2025-2026 financial year
Laurent-Perrier: Revenue up, Net profit slightly lower
and profitability remains high
The financial statements for the first half of the 2025-2026 financial year, ended 30 September 2025, were approved by the Management Board at its meeting held on 25 November 2025 and reviewed the same day by the Supervisory Board, chaired by Mr Patrick THOMAS.
Key consolidated financial data:
| In millions of Euros At 30 September 2025 | 1st 6 months Financial year 2024-2025 (1 April 2024 - 30 September 2024) | 1st 6 months Financial year 2025-2026 (1 April 2025 - 30 September 2025) | Change vs FY N-1 |
| Champagne sales | 128.8 | 133.3 | +3.5% |
| Group revenue | 132.0 | 134 | +1.5% |
| Operating profit | 38.8 | 36.6 | -5.7% |
| Operating margin % (*) | 30.1% | 27.5% | -2.6 pts |
| Net profit attributable to the Group | 25.3 | 23.1 | -8.7% |
| Earnings per share (in Euros) | 4.28 | 3.94 | -€0.34 |
| Operating cash flow (**) | -39.2 | -4.7 | +€34.5m |
* Margin calculated on champagne sales only
** Cash flow from operations - net investments
Commenting on the half-year results, Mr Stéphane Dalyac, Chairman of the Management Board, stated:
"In a champagne market that remains less buoyant than in previous years, the Laurent-Perrier Group reports revenue growth and a slight decline in half-year profit. However, investment in supporting our brands and in the quality of our Champagnes enables us to maintain a high level of operating margin, above that recorded in the years prior to the Covid period.
The Laurent-Perrier Group is thus maintaining its value-driven strategy, consistently relying on the quality of its Champagnes, the strength of its brands, the commitment of its teams, and the controlled management of its distribution."
Change in revenue:
During the period from 1 April 2025 to 30 September 2025, the champagne market recorded a -1.5% decline in volumes shipped compared with the prior year. Over the same period, the Group achieved a +2.6% increase in sales volumes compared with the first half of the previous financial year.
Over the first nine months of the calendar year, the champagne market was down -1.4%, while the Group’s sales were up +8.9%, which does not, however, indicate the likely trend in revenue for the full financial year.
In this less favourable environment, the strength of the Group’s brands and the quality of its Champagnes continued to support its value-driven strategy, resulting in a price-mix effect of +1.6% over the half-year, together with a +2.6% volume effect.
Consolidated revenue for the first half (champagne sales) therefore amounted to €133.3 million at current exchange rates.
Change in profit:
In the first half of 2025-2026, the Group continued to invest for the long term, particularly in supporting its brands and in commercial development. These investments in enhancing the value of sales underpin the long-term strength of the brands. The Group’s operating margin reached 27.5% at current exchange rates. Net profit attributable to the Group amounted to €23.1 million at current exchange rates, down -8.7%, and represented 17.2% of consolidated revenue.
Changes in operating cash flow and financial structure:
The improvement in working capital (with the increase in inventories offset by higher trade creditors and lower other current assets) led to an improvement in operating cash flow, which stood at -€4.7 million compared with -€39.2 million at 30 September 2024.
The interim consolidated balance sheet as at 30 September 2025 confirms the robustness of the Group’s financial position. Equity attributable to the Group amounted to €640.4 million, and net debt (*) stood at €236.8 million, including €43.8 million in cash and cash equivalents. The gearing ratio remains at an excellent level, at 0.37 at 30 September 2025 compared with 0.35 at 31 March 2025.
(*) Net debt: non-current financial and other liabilities + current financial liabilities – cash and cash equivalents.
Outlook:
The published results for the first half cannot be extrapolated to the full 2025-2026 financial year. Indeed, the geopolitical environment and the economic situation in several of the Group’s key markets call for considerable caution regarding the outlook for the coming months.
The Laurent-Perrier Group continues to implement its business plan with vigilance and confidence, and is maintaining the course of its value-driven strategy, which is built on four pillars:
- A single business: The production and sale of top-of-the-range Champagnes
- Quality supply based on a partnership policy
- A portfolio of strong, complimentary brands
- 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 champagne, 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
Chairman of the Management Board
Laurent-Perrier Group
Telephone: 22
The consolidated financial statements for the first six months of the 2025-2026 financial year were the subject of a limited audit by the statutory auditors (KPMG and PwC). All the corresponding financial data are available in the 2025-2026 half-year financial report, which will shortly be published on the Laurent-Perrier Group's financial website:
Notes
Analysis of champagne sales
| 1st 6 months FY 2025-2026 (1 April 2025 - 30 September 2025) | |
| Champagne revenue (€m) | 133.3 |
| Change in % | vs FY N-1 |
| Total change | +3.5% |
| o/w volume effect | +2.6% |
| o/w price/mix effect | +1.6% |
| o/w currency effect | -0.7% |
Elements of the consolidated balance sheet
| Group - in € million | At 30 September 2024 | At 30 September 2025 |
| Shareholders' equity Group share | 612.3 | 640.4 |
| Net debt | 241.8 | 236.8 |
| Inventories and work-in-progress | 705.4 | 751.7 |
Financial agenda
Annual results 2025-2026: 29 May 2026
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