BCC Group: Revenue for the first nine months of 2008
Sources and tags:
The BCC Group’s consolidated revenues came to 164.1 million euros at September 30th, 2008, compared with 205 million euros in 2007 (with 37 million euros resulting from the balance on the destocking program launched in line the restricting of the debt of the subsidiaries acquired at the beginning of 2006).
Champagne sales to customers represented 164.1 million euros, compared with 168 million euros in 2007 (pro forma), down -2.3%.
Excluding the brokerage subsidiary CGV, whose traditionally fluctuating activity has been reduced, the Group’s consolidated revenues totaled 154.7 million euros for the first nine months of the year, compared with 155.4 million euros on a pro forma basis in 2007 (-0.4%).
Good performance on export
Export revenues accounted for 45.2% of the total, compared with 43% at September 30th, 2007, with this trend primarily reflecting the dynamic level of sales at Champagne Lanson.
Negative exchange effect
In light of the percentage invoiced in sterling (close to 15%), the Group’s consolidated revenues, excluding CGV, would have represented 158.1 million euros at a constant euro/sterling exchange rate instead of 154.7 million euros. Compared with the 155.4 million euros recorded for 2007 (pro forma), consolidated revenue would have increased by 1.7%. The exchange effect is therefore negative for 3.4 million euros.
Objective for 2008
It is important to remember that the fourth quarter accounts for 45 to 50% of Champagne wine consumption. Since shipments, particularly since September, are very uncertain and being moved back, the BCC Group is cautiously adjusting its full-year revenue target (excluding CGV) for 2008 to around 295 million euros, with earnings expected to remain stable.Note
- ABOUT BOIZEL CHANOINE CHAMPAGNE
Listed on EUROLIST, Compartment B, BOIZEL CHANOINE CHAMPAGNE fully owns seven Champagne Houses:
- Champagne Boizel (Epernay), French mail-order market leader, with wines distributed in the traditional sector for international markets.
- Champagne Chanoine Frères (Reims), wines intended primarily for the mass retail market (Chanoine brand), notably with the Tsarine Grande Cuvée range.
- Champagne Philipponnat (Mareuil sur Aÿ), which owns the prestigious Clos des Goisses, with wines available on selective retail markets.
- Champagne De Venoge (Epernay), also sold on selective retail markets, notably with its new Louis XV vintage.
- Champagne Alexandre Bonnet (Les Riceys), owner of a vast vineyard (wine sold in traditional sectors), as well as the Ferdinand Bonnet brand.
- Maison Burtin (Epernay), a mass retail supplier and owner of the Besserat de Bellefon brand, distributed through traditional networks (restaurants, wine stores).
- Champagne Lanson (Reims), the prestigious international brand.
ISIN: FR0004027068- Reuters: BCCP.PA- Bloomberg: BOZ FP
www.boizelchanoine.com(↩)
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