Latest news with #LaurentPerrier
Yahoo
23-05-2025
- Business
- Yahoo
Laurent-Perrier: Financial Press Release - Annual results 2024-2025
Laurent-Perrier Group Tours-sur-Marne, 23 May 2025 Financial press releaseResults for the financial year 2024-2025 Laurent-Perrier: Annual result down, but profitability remains high The financial statements for the 2024-2025 financial year, ended 31 March 2025, were approved by the Management Board at its meeting on 20 May 2025 and reviewed the following day by the Supervisory Board, chaired by Mr Patrick THOMAS. Key consolidated audited financial data: In millions of EurosAt 31 March 2025 Financial year 2023-2024 (N-1)(1 April 2023 -31 March 2024) Financial year2024-2025(1 April 2024 –31 March 2025) Change vs FY N-1 Champagne sales 303.5 282.9 - 6.8% Group revenue 312.5 294.4 - 5.8% Operating profit (loss) 95.1 74.4 - 21.8% Operating margin % (*) 31.3% 26.3% - 5.0 pts Net profit (loss) attributable to the Group 63.6 47.4 - 25.4% Earnings per share (in Euros) €10.74 €8.02 - €2.72 Operating cash flow (**) + 0.9 - 11.2 - 12.1 * Margin calculated on champagne sales only** Cash flow from operations - net investments Commenting on the annual results, Mr Stéphane Dalyac, Chairman of the Management Board, stated: "In a context of a slowdown in the champagne market compared to previous years, the Group recorded an operating profit of €74.4 million for the 2024-2025 financial year. Despite a decline from the record performance achieved in 2023-2024, the quality of our wines, the control of our distribution, and the investments made to support our brands have enabled us to maintain a high level of operating margin. The Laurent-Perrier Group therefore continues to pursue its strategy, drawing on the excellence of its Champagnes, the expertise of its teams, the strength of its brands, and the control of its distribution." Change in revenue: During the period from 1 April 2024 to 31 March 2025, the global Champagne market recorded a volume decline of -5.8% compared to this context, the Group experienced a -6.0% decrease in sales volumes over the same period compared to N-1. Group revenue (Champagne sales) for the year declined by 6.8%, amounting to €282.9 million at current exchange rates. Change in profit: During the period from 1 April 2024 to 31 March 2025, the Group continued to invest for the long term in support of its brands and in business development. This investment in value creation has enabled the Group to maintain a high operating margin of 26.3% at current exchange rates. Net profit attributable to the Group amounted to €47.4 million at current exchange rates, representing 16.1% of consolidated Group revenue. Changes in operating cash flow and financial structure: Operating cash flow stood at -€11.2 million for the 2024-2025 financial year, compared to +€0.9 million the previous year. This decline of -€12.1 million was mainly due to a -€17.0 million decrease in funds from operations, in line with the drop in net profit. The consolidated balance sheet as at 31 March 2025 once again reflects the strength of the Group's financial structure. Equity attributable to the Group stood at €627.3 million, while net debt (*) totalled €220.2 million, including €56.9 million in cash and cash equivalents. As a result, the gearing ratio remains at an excellent level, at 0.35, compared to 0.32 as at 31 March 2024. (*) Net debt: non-current and current financial liabilities and other non-current liabilities, minus cash and cash equivalents. Outlook: In a period marked by significant geopolitical and economic uncertainty, the Laurent-Perrier Group moves forward with caution yet confidence, continuing to implement its business plan and maintaining the course of its value strategy, built on four key pillars: - A single business dedicated to the creation and marketing of exceptional Champagne wines, - A portfolio of renowned and complementary brands, - Quality sourcing supported by a policy of solid partnerships, and- 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 0006864484Bloomberg: LPE:FPReuters: Laurent-Perrier belongs to compartment B of Euronext. Main index CAC All SharesIt is included in the composition of the EnterNext© indices PEA-PME 150 and Euronext® FAMILY BUSINESS. Stéphane DALYACLaurent-Perrier GroupTelephone: +33 3 26 58 91 22The audit procedures relating to the consolidated accounts for the 2024-2025 financial year have been carried outby the statutory auditors (KPMG and PwC) and the audit report is being the financial data will soon be published on the Laurent-Perrier Group's financial website: Notes Champagne revenue analysis FY 2024-2025(1 April 2024 - 31 March 2025) Champagne revenue (€m) 282.9 Change in % vs. FY N-1 Total change - 6.8% o/w volume effect - 6.0% o/w price/mix effect - 1.4% o/w currency effect + 0.6% Elements of the consolidated balance sheet Group - in € million As at31 March 2024 As at31 March 2025 Shareholders' equityGroup share 597.6 627.3 Net debt 191.6 220.2 Inventories and work-in-progress 644.1 679.3 Financial agenda General Meeting: 10 July 2025 at 4:00 p.m. in Reims, Hôtel de la Paix, 9 rue Buirette Half-year results for the 2025-2026 financial year: End of November 2025 (date to be confirmed) Attachment Communiqué_financier_en
CNN
09-05-2025
- Business
- CNN
Global Airlines promised luxurious flights on a fleet of A380 superjumbos. The launch is somewhat different
When it was first announced four years ago, it sounded like an aviation geek's dream — an airline with a fleet consisting only of Airbus A380 superjumbos, the huge and majestic double-decker airplanes that offer unrivaled comfort in the sky. Promotional images released by Global Airlines, a startup carrier founded by former investment banker and Guinness World Record holder James Asquith, added to the excitement, with images of smart cabins and even an onboard 'pub.' Now that the airline is counting down the days to its first flight, some of that gloss and excitement has begun to wear off and that flashy dream of an all-A380 fleet has still yet to fully materialize. That's not to say Global Airlines isn't trying. Tickets have been on sale for the carrier's debut: an 'A380 experience,' as the carrier's global chief commercial officer, Richard Stephenson, put it via email. That involves a flight from Glasgow, Scotland, to New York on May 15 with a return flight scheduled for four days later on May 19. A second flight is then scheduled from Manchester, England, to New York on May 21, returning May 25. The good news is, both services are due to be on an A380. And, according to Asquith — who told CNN in 2023, 'I want a better product across the Atlantic and that's why we're doing what we're doing' — the airline will serve Laurent-Perrier champagne in first class and Rova Caviar Madagascar in both first and business. A splashy aviation launch is nothing new. Virgin Atlantic is known for its legendary premium booze-soaked kickoffs. Even United Airlines' recent launch of a service from Tokyo to Mongolia capital Ulaanbaatar involved cupcakes and the ceremonial breaking of a barrel of sake. Still, Global Airlines' debut isn't as big a reason for celebration as Asquith might have hoped. Asquith founded Global in 2021 with a desire to return to a 'golden age of air travel.' That meant, he said, offering travelers something of a step up for their buck on transatlantic flights, with a vision of superjumbo luxury that includes champagne and caviar. 'I've flown on about 280 different airlines and sat there seeing what's good, what doesn't work and what can be improved,' Asquith said in the 2023 CNN interview. He was applying those lessons to Global, he added. The A380 was key to Global's pitch. Following the pandemic, many superjumbos were parked with airlines believing air travel would not come back quickly enough to warrant their size. That made the planes attractive to a startup airline willing to take a bet on their 500-plus seats, as well as a savvy marketing ploy: come fly on the largest passenger plane in the skies! The downside of an all-A380 fleet is that superjumbos are expensive to operate, from needing lots of fuel to higher airport landing and parking fees. An airline needs to fill most of the seats on the plane, and at a decent price, to make the economics work. Things didn't go as planned for Global. After announcing a deal for its first A380 in 2023, the airline did not actually get a plane — a different ex-China Southern Airlines model — until February 2024. That A380 then had to undergo maintenance and other modifications to meet Global's specifications that were not complete until earlier this year. 'It was and has been gruesomely challenging,' Asquith wrote on LinkedIn in April. 'There's always something else in aviation, and I myself am guilty of harsh criticism. We have got things wrong, and will continue to do so, but we have the best intentions of making a better product as we go, and one that holds the highest safety standards as well.' Global's inaugural flights will not be a typical affair. Airlines usually wait to have all their i's dotted and t's crossed with regulators and be ready to fly a regular service travelers can rely on before they begin flying. Global is taking a different route. It only plans the four one-time flights in May from Glasgow to New York and back, and then the same from Manchester. Portuguese charter carrier Hi Fly will operate the first flights as Global does not anticipate securing its own operating certificate from UK authorities until 2026 at the earliest. And tickets can only be found on the website of travel consolidator — not on Expedia or via your local travel agent. In other words, would-be travelers need to know Global exists and actively want to fly with it, otherwise they're unlikely to stumble across the tickets. So, why operate novelty debut flights when the airline doesn't appear to be ready to throw its hat in the ring to fully compete with other transatlantic players? 'These two flights are charter flights and designed to give people the chance to fly on an A380 and test out the product we are offering,' Stephenson said. That may be part of the reason but aviation experts believe it's also an attempt to secure much-needed cash. 'Candidly, I think this is kind of an opportunity to try to raise some money, which they undoubtedly have to do in order to operate,' said Robert Mann, an airline industry analyst and consultant based in New York. A roundtrip economy class ticket for the inaugural Glasgow-New York flight and back was available for $1,034 (£778.62) on May 1. Not exactly cheap for a new airline trying to make a name for itself in the market. Travelers could book a connecting flight from Glasgow to New York via Amsterdam on KLM for the same dates for as little as $525 round trip, according to Google Flights. 'There are many reasons for these flights and we are delighted that we have reached the point where our first aircraft is ready to carry passengers — a point that many experts said would never happen,' Stephenson said, responding to the fundraising speculation. If fundraising is Global's plan with its pair of inaugurals, leaving its A380 parked at JFK for four days between flights is an odd choice. Airlines must pay parking fees when they store a plane, especially at busy airports like New York. 'It's probably close to 50 grand — I hope they raise that much,' said Mann of the parking fees. Booking one of Global's first flights comes with all of the risks of flying on a startup airline. They typically have minimal ability to accommodate travelers in the event of a flight delay and refunds are unlikely if there is a cancellation or other snafu. 'Travelers should stay informed, as with any startup, but it's an interesting story to watch unfold,' said Ahmed Abdelghany, an associate dean in the business school at Embry-Riddle Aeronautical University in Florida. Ticketholders on Global's first flights are protected under the UK's Air Travel Organisers' Licensing, or ATOL, scheme that guarantees travelers refunds and, in the event they are stranded abroad, a repatriation flight back to the UK. Global's success 'will likely depend on whether they can carve out a niche market that values comfort over cost and whether they can maintain operational reliability and regulatory compliance as a new entrant,' added Abdelghany. Those caveats extend even to the first flights. Given the expense of operating even a limited number of flights, the relatively premium prices being charged, the large number of seats to fill and the obscurity of the sales platforms, Global is already fending off doubts over its viability. 'There is no reason for anyone to be concerned,' said Stephenson. 'We have just flown our first passengers (twice) and everything ran very smoothly and with no issues at all, so our proof of concept program is going very well!' The flights he referred to were two services from Barcelona to Berlin on May 2, and Berlin to London's Gatwick airport on May 3. The flights carried a limited number of passengers who enjoyed some of Global's onboard offerings, leading many experts to believe they were familiarization flights for crew ahead of Global's transatlantic debut. Stephenson says things are going 'very well,' but at this nascent stage, the stakes are high for the fledgling airline. But the cult appeal of the A380 and the prospect of riding on an airline's first-ever service — plus the marketing buzz amplified by Asquith's 1.1 million Instagram followers — could be more than enough to ensure it makes it down the runway.
Yahoo
14-02-2025
- Entertainment
- Yahoo
The Mancunian Way: Living on the Edge
It's the apex of Cheshire's 'Golden Triangle', where supercars are 10 a penny and the Laurent Perrier rose is always on ice. Welcome to Alderley Edge, the north's glitziest village. The 'Knightsbridge of the north' has long been the choice of home for Premier League footballers, millionaires and a smattering of billionaires too. David and Victoria Beckham famously lived here during his time at Manchester United as did Cristiano Ronaldo, while Man City's Erling Haaland has just bought a house here to settle into family life now he's signed up for another nine year stretch with the Blues. READ MORE: School issues statement after 'very unpleasant' video involving students emerges READ MORE: Boy stabbed by thugs in balaclavas after getting off tram Living on the Edge is only for the very select few though, as lifestyle editor Dianne Bourne found out when she paid a visit this week. The average price for a house here is three times the national average according to Rightmove - at a jaw-dropping £823,000, while the average detached house price is £1.3 million. Last year prices rose again by 11 per cent to show you the kind of demand there is for properties in this exclusive enclave. Estate agents in the village say that demand is now highest in the 'mid-market' range between £800,000 and £1million, with people desperate to secure that oh-so aspirational Alderley Edge address. It's got more than its fair share of famous faces, but people who live and work in the village will tell you that they get pretty much left alone as they walk around the quirky independent shops here. Although the village's main London Road is regularly stalked by paparazzi. They might be grabbing a shot of Coleen Rooney heading for a shop at Waitrose, Christine McGuinness on the way to a yoga class or Kerry Katona parking her green Lamborghini to head for a haircut at the Style Lounge hairdressers. Earlier this week it was Man City star Jack Grealish in the photographers' lens - papped as he strolled with his partner and newborn baby as they headed for a coffee in the Cafe Nero in the village. But the paparazzi are not the only photographers lying in wait in this most unique of villages. On weekends you'll see a bank of young men camped out with the cameras ready - not for a Premier League footballer or TV star - but for the cars they're driving in. The supercar spotters are a regular fixture of weekends here, such is the embarrassment of motor riches rolling through the village that they can photograph for their collections and instagram feeds. These motor enthusiasts barely lift their lenses for a Bentley, Porsche or even a Rolls Royce - they're ten a penny in Alderley Edge. But spy a £1.5million Bugatti Veyron, £550,000 Lamborghini Aventador or £1.3m Ferrari Competitizione and they lurch to life to get a shot of the rare motors casually revving past them into the village. In Alderley Edge you'll find a butchers, a bakers and a chippy - but in a telling nod to the wealth in the area you'll also find a host of diamond jewellers, a number of aesthetic clinics and a travel agent selling million pound holidays. But that also comes with a downside. Celebrity event organiser Steph Ledigo went to school in Alderley Edge but has now moved to Hale. She says it's almost impossible to get a foothold in the property market here now without 'massive wealth'. "People want to live here,' she said. 'Even just the name - if you say the name Alderley Edge it says you're doing well for yourself.' Keep up to date with all the big stories from across Greater Manchester in the daily Mancunian Way newsletter. You can receive the newsletter direct to your inbox every weekday by signing up right here.
