LANSON-BCC Reports Positive 2024 First-Half Results Amid Market Contraction

Reims, September 11, 2024 - LANSON-BCC Group, a Champagne-focused company, announced a net income of €3.71 million for H1 2024. Despite improvements in the product mix, volume contractions due to economic conditions and increased stock financing costs impacted profitability. The global downturn in consumption and retailer destocking efforts also contributed to the challenging market environment.

The global Champagne industry shipped 106.7 million bottles in the first half of 2024, a 15.2% decrease from H1 2023. The French market saw a 10.2% decline, while export markets dropped by 18.2%. LANSON-BCC's own volumes contracted more sharply than the industry average.

Revenues for the first half of 2024 were €87.79 million, down 19.5% from the same period in 2023. EBITDA stood at €16.54 million, a 29.3% decline. Finance costs increased significantly due to higher interest rates, affecting the cost of aging credit facilities. Net income suffered a 67.9% drop compared to H1 2023.

LANSON-BCC's shareholders' equity rose to €354.72 million, while net financial debt reached €533.65 million. Despite these challenges, the company maintains its commitment to its long-term strategy, focusing on high-end wine segments and coping with rising grape prices and stock financing costs.

The company anticipates better performance in the second half of 2024 but refuses to provide full-year forecasts due to ongoing economic uncertainties. Full-year revenue figures will be announced on January 30, 2025.