Laurent-Perrier : Balance sheet strengthened and profile now more apt to weather the crisis
>Pandemic lops around 2.4% off 2019-20 sales - Our takeaways from recent contact with the company are as follows:The pandemic, which hit business over the last two weeks of March, lopped close to € 6-7m off sales, which corresponds to a volume of 300 thousand bottles.Laurent Perrier maintained stable EBIT of € 41.2m and a margin of 17.8% (+20bp), despite the increase in marketing costs to 11.5% of sales and overheads of +6.5%, reflecting non1erecurring costs...Laurent-Perrier is a holding company. Through its subsidiaries, Co. is engaged in the production and distribution of champagne. Its products are sold through four main brands, which are Laurent-Perrier, Salon, Delamotte and Champagne de Castellane. Co.'s vineyards are held either directly by Co. or jointly with other growers through various real-estate companies. Co. organizes its business activities under three different types of legal entities: Champagne houses, Distribution subsidiaries, and Vineyards. For most of its export markets, Co.'s products are sold through specialized distribution networks such as cafes, hotels and restaurants, wine merchants and direct sales.
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