Latest news with #champagne
Bloomberg
15 hours ago
- Business
- Bloomberg
Wedding-Guest Financial Fatigue Is Real. Here's How to Handle It
It's the definition of a good problem: You've been invited to too many weddings this year. While the upsides may include a surfeit of champagne, out-of-town trips and reunions with friends, the downside risks to your finances are no joke, particularly with the economy looking shaky. For solutions as we hit wedding season's stride, I turned to three financial advisers and a wedding expert to get their best tips on how to manage the expensive obligation of being a wedding guest in 2025. At the end, I also offer you a break-glass strategy if you feel yourself drowning already.
Reuters
28-05-2025
- Business
- Reuters
Pernod Ricard replaces head of cognac division amid industry troubles
PARIS, May 28 (Reuters) - Philippe Neusch, Pernod Ricard's vice president of cognac, has left his role, according to an internal memo seen by Reuters and confirmed by a group spokesperson on Wednesday. Neusch, who led cognac house Martell for fewer than two years as the industry grapples with weak demand and international trade tensions, will be replaced by Francois-Xavier Morizot, who already heads the group's champagne business. (This story has been refiled to correct the company's name in paragraph 1)
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
Times
21-05-2025
- Health
- Times
No hangovers! My sober parent survival guide
Do parenting and alcohol go hand in hand? In my experience, yes! When my son was born, nearly 11 years ago, I remember thinking how much I'd enjoyed not drinking during pregnancy. Sober socialising (for the first time in my adult life) was easier than I'd thought, and I loved hangover-free weekends. I pictured myself as a calm, glowing, alcohol-free new mother, and resolved to stay sober. That lasted until a friend offered me a glass of champagne to toast the birth. I soon realised that, from NCT drinks to bonding with other mums, to decompressing after a stressful bedtime, alcohol was just as present in my life as it had been pre-parenthood, if not more so. And it was very normalised; the #sendwine and
Daily Mail
15-05-2025
- Business
- Daily Mail
Report: Popular champagne company in crisis after hiking prices
The world's most famous champagne brand is in crisis after a devastating slump in sales. Moët Hennessy, the makers of legendary Dom Pérignon champagne and Hennessy cognac, made a loss of €1.5 billion ($1.68 billion) last year, the Financial Times reported. The company's sales fell 9 percent in the first quarter compared to the same time last year. It is quite the downfall for the wine and spirits maker, which made over €1 billion in cash in 2019. It comes after Moët Hennessy, which is owned by luxury goods giant LVMH , aggressively raised its prices. Moët Hennessy has hiked it prices by well over a third, on average, since 2019, according to FT analysis. The company's financial position is so dire that it announced earlier this month that it would cut 10 percent of its workforce, around 1,200 jobs. It has been hit hard by a global slowdown in alcohol consumption since the pandemic. However, sources told the FT that the company's problems were largely down to missteps made by former CEO Philippe Schaus. Those familiar with the matter told the publication that Schaus became too obsessed with turning a profit by raising prices and failed at his push to sell more directly to the consumer. At a presentation in February last year, Moët Hennessy bosses were given a stark warning: 'Need to save cash!', according to materials viewed by the FT. Last month the brand's new CEO, Jean-Jacques Guiony, who took over from Schaus in February, told executives that sales would not bounce back anytime soon. Insiders told the outlet that a series of expensive acquisitions had also contributed to Moët Hennessy's woes. Since 2021 the company has spent €2 billion on an acquisition spree. This includes buying a 50 percent stake in Jay-Z's champagne brand Armand de Brignac , Provencal rosé brand Minuty and Napa Valley winemaker Joseph Phelps. One source said that by and large the deals had 'added complexity, lowered margin and drained cash.' Although Moët Hennessy does not have plans to sell the brands it has bought, it is looking to scale back growth. 'These businesses have been driven by an ambition that is very difficult to accommodate today,' Guiony said earlier this month. 'We have been planning to develop in many geographies at the same time, which is in my view a mistake,' he added. Moët Hennessy's plans to grow its direct to consumer business has also fallen short. Under Schaus, Hennessy stores were opened in China and a Veuve Clicquot outlet opened at Parisian department store. Dom Pérignon and Veuve Clicquot cases were also sold online. However, the initiatives are now losing the business millions of euros per year, the FT reported.
