Reims, Thursday January 25, 2024 - 5:45pm
Global Champagne wine market
After two years of vigorous post covid recovery, the global 2023 Champagne wine market recorded a
-8.2% drop in volume shipments to 298.8 million bottles, while generating almost stable revenues of over €6 billion. France (42.5% of volumes) and exports (57.5% of volumes) declined uniformly by -8.2% (CIVC estimate). Distributors around the world had surplus inventories at the beginning of 2023, due to excess precautionary purchases and logistical difficulties in 2022. In addition, the inflation context and fears caused by rising interest rates weighed on demand.
Our Maisons
In this environment, the LANSON-BCC Group recorded a higher volume contraction than the industry overall, with consolidated revenues down -6.1 % to €271.7 million. Excluding the brokerage subsidiary, which activity is traditionally subject to fluctuations, consolidated revenues came to €266.4 million, down -5.8%. Revenues in France fell by -5.4 %, and export revenues by -6.1 %. The decline in volumes shipped by the Group was mainly due to surplus inventory in export markets (USA, Australia) and the discontinuation an entry price range at Champagne Chanoine Frères in France.
Revenues (€m) | 2023 | 2022 | Change (%) |
H1 | 109.07 | 115.02 | -5.2% |
H2 | 162.63 | 174.21 | -6.6% |
Year to December 31 | 271.70 | 289.23 | -6.1% |
A family-owned pure player for Champagne, LANSON-BCC is continuing to focus on its premiumization development strategy. The Group’s ambition to further strengthen its positioning in the world of high-end wines is more than ever firmly anchored at the heart of its plans. This policy is essential given the increase of grape prices and the higher cost of financing the maturation of wines.
2023 full-year earnings will be released on Thursday March 7, 2024 (after close of trading).
