Report
Fatma Agnès Hamdani

Lanson-BCC : Full-year results fractionally better than expected. Uncertainty in the short term due to difficulty in quantifying effects of COVID-19

>2019 EBIT and attributable net profit  down 19.5% and 20%.  Dividend halved by 50% to € 0.25 per share - Lanson-BCC yesterday reported FY 2019 results a shade above expectations. With sales already reported at € 250.3m (down 9.8%), EBIT came in at € 17.6m (vs € 17.3m estimated), -19.5%, representing a margin down 90bp (vs -100bp forecast) to 7%. The 160bp increase in the gross margin to 37.1% thanks to a better price mix (with the abandoning of less valued volumes) i...
Underlying
Lanson-BCC

Lanson-BCC produces, sells and markets champagne. Co. owns a portfolio of houses which are: Champagne Lanson (international market), Champagne Boizel (French-mail order, wines distributed in the traditional sector for international markets), Champagne Chanoine Freres (mass retail market), Champagne Philipponnat and Champagne De Venoge (selective retail markets), Champagne Alexandre Bonnet (traditional sectors), Maison Burtin (mass retail supplier, distributed through traditional networks). Co.'s brands are Boizel, Chanoine Freres, Tsarine, Philipponat, Clos des Goisses, Abel Lepitre, De Venoge, Alexandre Bonnet, Lanson, Besserat de Bellefon, Alfred Rothschild.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Fatma Agnès Hamdani

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