LANSON-BCC Reports Solid 2023 Full-Year Earnings Amid Market Challenges

LANSON-BCC, a leading Champagne producer, has unveiled its financial results for 2023, showcasing a strategic focus on value despite a downturn in revenues and a challenging market environment. Notably, the group achieved revenues of €271.70m, marking a 6.1% decrease, while income from ordinary operations rose by 17% to €58.76m, and net income slightly declined by 5.2% to €36.74m, equating to €5.44 per share.

The Champagne market faced a significant contraction in 2023, with an 8.2% drop in global volumes. Despite this, LANSON-BCC's strategic adjustments in product mix and pricing allowed it to outperform the broader industry trends. The company's efforts to refine its value proposition have led to an increase in the operating margin to 21.6% of revenues.

Adjusted for market volatilities, the group's consolidated revenues show resilience with a modest downturn. This outcome is reflective of strategic market withdrawals and inventory adjustments in key markets like the United States and Australia. Financial discipline remains a priority, as evidenced by increased financial expenses due to rising interest rates, yet the company maintains a strong financial structure with improved net financial debt and shareholder equity positions.

Looking ahead, LANSON-BCC remains committed to its long-term vision of premiumization and value creation in the Champagne segment. The proposed dividend of €1.10 per share underscores the board's confidence in the company's strategy and financial health. Despite the absence of specific forecasts, LANSON-BCC's focus on high-end market positioning and financial prudence is clear as it navigates the evolving economic landscape.