2018...allée du vignoble - 51100 reims - france tel: +33 (0)3 26 78 50 00 chairman’s message .3...
TRANSCRIPT
2018
Nicolas ROULLEAUX DUGAGE
Company Secretary
Chief Financial Officer
Investor relations:
Shareholder relations:
Allée du Vignoble - 51100 Reims - France
Tel: +33 (0)3 26 78 50 00
www.lanson-bcc.com
Chairman’s message .3
Profile .4
Lanson .6
Besserat de Bellefon .8
De Venoge .10
Philipponnat .12
Boizel .14
Chanoine .16
Alexandre Bonnet .18
Board of Directors .20
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2018 LANSON-BCC
"The significant investments made in the Group's Houses will make it possible to further strengthen their positioning
in the high-end and luxury sector."
Bruno PaillardLANSON-BCC Group Chairman and CEO
Interview by Didier Testot on Web Tv www.labourseetlavie.com (in french only)
Dear Shareholders,
The 2018 harvest was remarkable, with outstanding vintages expected thanks to the very good grape quality. However, in terms of business, 2018 was a year of contrasts for Champagne. Champagne shipments contracted by 1.8%, while revenues were stable in value terms at €4.9 billion. The results achieved varied depending on the destinations: as forecast, and for the first time in its history, the Champagne industry shipped less than half of its production in France. The European Union continued to see a decline, driven by the UK market downturn, which was not able to be offset by the progress made on other European markets. Shipments to the rest of the world continued to see robust growth, climbing to a new record level in 2018.
Against this backdrop of significant instability, the Group’s Houses naturally show contrasting trends. While LANSON recorded a drop in its business, primarily in the UK, PHILIPPONNAT, with its renowned Clos des Goisses cuvee, DE VENOGE, with the successful launch of its Princes cuvee, and CHANOINE FRÈRES, with its Tsarine cuvee, achieved major improvements
in their performances, while BOIZEL, BURTIN and ALEXANDRE BONNET were stable.
Our net income, up slightly, remained solid thanks to price-mix effects that were positive overall and a further reduction in our financial expenses. They represent €12.69 million, enabling the Group to consolidate its financial structure. Our gearing of 1.84 is at a normal level for the Champagne industry due to the high levels of stocks for aging. Excluding stocks, this ratio drops to 0.26.
As a family-owned pure player for Champagne, LANSON-BCC is moving forward with its long-term value development strategy with determination. The significant investments made in the Group’s Houses, first to upgrade their industrial and wine-production tools, then more recently to open them up to the public, aim to further strengthen their positioning in the high-end and luxury sector. At the start of 2019, the arrival of new managers to head up LANSON, CHANOINE FRÈRES and BOIZEL illustrates the new ambitions for their growth.
I would like to thank our customers, our partners, our teams and our shareholders for their confidence, trust and loyalty.
MESSAGE FROM THE CHAIRMAN
Bruno Paillard Chairman and Chief Executive Officer
LANLANSONSON-BC-BCCC 20120188
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2018 LANSON-BCC
MAJORPLAYER FOR CHAMPAGNE 2018
REVENUES
277.5million euros
EBIT
21.9million euros
NET INCOME
12.7million euros
EMPLOYEES
449LANSON-BCC is a group built around eight
Houses that produce Champagne wines,
created and led by Champagne families. It unites together outstanding Houses, renowned for their unique wines and benefiting from the effective fit between their customer segments. The blend of ancestral know-how and leading-edge technical capabilities, creative independence and rational synergies enables each one of its Houses to develop its performances, ensuring the LANSON-BCC Group’s sustainability.
Champagne LANSON, prestigious House founded 1760, Reims, with 80% distributed on international markets.
Champagne CHANOINE FRÈRES, House founded 1730, Reims, wines intended primarily for the European mass retail market (Chanoine brand), reputed above all for its Tsarine cuvee.
Champagne BOIZEL, House founded 1834, Epernay, French mail-order specialist (BtoC), distributed in the traditional sector for international markets.
Champagne DE VENOGE, House founded 1837, Epernay, sold on selective retail markets, notably with its Princes range and its Louis XV grande cuvee.
Champagne BESSERAT DE BELLEFON, House founded 1843, Epernay, distributed through traditional networks (restaurants, wine stores), notably with the Cuvée des Moines.
Champagne PHILIPPONNAT, House founded 1910, Mareuil-sur-Aÿ, which owns the renowned Clos
des Goisses, with wines available exclusively on selective retail markets as well as in the world’s leading restaurants.
Maison BURTIN, Epernay, private-label supplier for the European mass retail market and also producer of Champagne Alfred Rothschild.
Champagne ALEXANDRE BONNET, Les Riceys, owner of a vast vineyard, with wine sold in traditional sectors.
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LANSON-BCC 2018
COMPLEMENTARYHOUSES WITHCLEAR IDENTITIES
LANSON
DEVENOGE
PHILIPPONNAT
BOIZEL
CHANOINEFRÈRES
ALEXANDREBONNET
BESSERATDE BELLEFON
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2018 LANSON-BCC
HOUSE FOUNDED IN 1760
The prestigious LANSON is one of the oldest Champagne Houses. When creating its wines, it highlights the fruit and its rich aromas in its quest for purity. The freshness and energy that are the hallmarks of LANSON's style give its wines unrivalled cellaring potential. With its longstanding international presence, LANSON has built up strong positions, particularly in the UK, where the House has held a Royal Warrant continuously since 1900, awarded by Queen Victoria. LANSON Champagnes are distributed across all channels (mass retail stores, wine stores, gourmet food stores, fine-dining restaurants, hotels).
The House’s long-term development is built around creating value through high-quality wines. The success of its latest release, “LANSON Green Label”, an organic cuvee and the first Viticulture Durable sustainable winegrowing vintage, is supporting its presence on segments with growing value, particularly on international markets. Alongside this, LANSON is moving forward with its major industrial modernization investment program and strengthening its commercial actions. The appointment of a new Chairman, François Van Aal, will enable it to consolidate its value strategy and its strong international reputation.
www.lanson.com
/ChampagneLanson
/ChampagneLanson
CHAMPAGNE
LANSON
IN REIMS
7
"Further strengthening LANSON’s premiumization and international development."
François Van AalChairman / Champagne LANSON
ont."
AalSON
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2018 LANSON-BCC
HOUSE FOUNDED IN 1843
BESSERAT DE BELLEFON has continued to uphold the House’s tradition of impeccable quality, crafting wines reserved exclusively for the traditional wine store and gourmet restaurant sectors. In his quest for excellence, Victor Besserat created an exceptionally light Champagne in 1930: the renowned Cuvée des Moines, the jewel in the House's crown. Its bubbles, 30% finer than a traditional champagne, reflect a unique production process within the region. They give it the light effervescence that is the hallmark of BESSERAT DE BELLEFON Champagnes.
BESSERAT DE BELLEFON is carrying out work in line with the highest standards to create value through its outstanding wines. Its high-end positioning and realigned marketing platform will support the development of its sales in France and for export. Accompanying this value strategy, the House is transforming into a subsidiary and will be moving into its new headquarters soon to set out its personality and help drive its strong commercial development.
www.besseratdebellefon.com
/Besseratdebellefon
/BesseratDeBellefonFrance
CHAMPAGNE
BESSERAT
DE BELLEFON
IN ÉPERNAY
9
"BESSERAT DE BELLEFON bubbles are 30% finer than a traditional Champagne."
Cédric ThiebaultCellar Master / Champagne BESSERAT DE BELLEFON
%."
ultFON
10
2018 LANSON-BCC
HOUSE FOUNDED IN 1837
DE VENOGE cultivates a policy of quality and innovation in the purest Champagne tradition. Recommended by many prestigious institutions, DE VENOGE is one of the most decorated Champagnes of its generation. Available through selective networks (hotels, restaurants and wine stores), its attractive range of Champagne Wines express all the region's rich heritage, the unique features of its grape varieties and the possibilities for marrying blends together. From the Cordon Bleu to the Louis XV cuvee and the prestigious Cuvée des Princes, the House follows a core guideline that is easily identifiable through its slogan: “Noblesse Oblige”.
DE VENOGE is continuing to move forward with its premiumization, while capitalizing on its successful diversification into wine tourism. Classed as a UNESCO World Heritage site, its townhouse is a magnificent showcase for French hospitality with its luxurious reception area “Les Suites du 33” and its Champagne bar “L'Ecurie”. This value strategy is being supported by the development of the prestigious “Princes” wines and progress made with international listings.
www.champagnedevenoge.com
CHAMPAGNE
DE VENOGE
IN ÉPERNAY
/Champagne_de_venoge
/ChampagnedeVenoge
11
"DE VENOGE is continuing to embrace its nobility, with a clear focus on excellence."
Gilles de la BassetièreChairman / Champagne DE VENOGE
12
2018 LANSON-BCC
HOUSE FOUNDED IN 1910
The PHILIPPONNAT family have been established in Aÿ since 1522, and have devoted themselves since the Second Empire to producing outstanding Champagne wines. From the Brut Royale Réserve, the House's ambassador, to the prestigious Cuvée du Clos des Goisses, Champagne PHILIPPONNAT offers an extensive range of full-bodied, structured wines, with a clear focus on Michelin star restaurants and fine wine enthusiasts. PHILIPPONNAT has one of the first Champagne vineyards to be awarded the “High Environmental Value” label. Its subsidiary PHILIPPONNAT Les Domaines Associés distributes Domaines Barons de Rothschild (Lafite) wines in France.
PHILIPPONNAT is devoted to enthusiasts seeking subtle pleasures and positions quality as a priority in all areas. Renowned for its perfect respect for its region, it is rolling out a value strategy driven by the energy and personality of its teams to strengthen its presence on selective distribution channels and ramp up its distribution for exports.
www.philipponnat.com
CHAMPAGNE
PHILIPPONNATIN MAREUIL-SUR-AŸ
/Champagne_philipponnat
/Philipponnat
13
"For PHILIPPONNAT, quality is the main focus in everything we do."
Charles PhilipponnatChairman / Champagne PHILIPPONNAT
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2018 LANSON-BCC
HOUSE FOUNDED IN 1834
For over 180 years, BOIZEL has devoted itself with passion to ensuring the highest standards and crafting vintages renowned for their elegance, finesse and balance. In France, BOIZEL is the mail-order (BtoC) specialist thanks to its strong customer relations focus and innovative marketing.
Over the last few years, BOIZEL has made major investments to renovate and showcase its buildings on Avenue de Champagne in Épernay, classed as a UNESCO World Heritage site. Following the opening of “L’Atelier 1834”, a dedicated contemporary space for tasting its wines, and a wine tourism tour, the House is embarking on a new stage in its long history. The arrival of a new Chairman and CEO, Florent Roques-Boizel, from the family’s 6th generation, illustrates the development of its new dynamic approach, while continuing to embrace the House’s core features and the quality of its Champagnes.
www.boizel.com
CHAMPAGNE
BOIZEL
IN ÉPERNAY
/Champagneboizel
/Champagneboizel
15
"BOIZEL’s development is built around its passion for Champagne and respect for the family values that have
shaped its identity."
Florent Roques-BoizelChairman / Champagne BOIZEL
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2018 LANSON-BCC
HOUSE FOUNDED IN 1730
Founded during the reign of Louis XV, CHANOINE FRÈRES was the first House to be authorized by the town of Épernay to dig a cellar in Champagne. The second oldest Champagne House, CHANOINE FRÈRES, now established in Reims, successfully blends modernity with tradition, with its modern, high-performance production facilities. CHANOINE FRÈRES Champagnes are present in the mass retail sector with the classic CHANOINE FRÈRES cuvees and the renowned Tsarine cuvee, which is also available through traditional channels.
CHANOINE FRÈRES is continuing to build on the House’s robust development. More specifically, its Tsarine cuvee is confirming its major potential thanks to the renowned quality of its wines and its growing number of listings across all distribution channels. Its bottle’s elegant curves, which give it outstanding visibility, particularly in the cinema, and its strong communication around its ambassador, Adriana Karembeu, are helping grow its reputation. The appointment of a new Chairman and CEO, Franck Coste, will enable CHANOINE FRÈRES to further strengthen its positions, both in France and for export.
www.champagnechanoine.com
www.tsarine.com
CHAMPAGNE
CHANOINE
FRÈRES
IN REIMS
/Champagne_tsarine
/Champagnetsarine
17
"CHANOINE FRÈRES and its Tsarine Cuvee have outstanding potential both in France
and internationally"
Franck CosteChairman / Champagne CHANOINE FRÈRES
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2018 LANSON-BCC
HOUSE FOUNDED IN 1973
The leading Champagne House in the village of Les Riceys, the Champagne region’s largest and most southerly vineyard, ALEXANDRE BONNET, with its 47 hectares of vines and its major grape purchasing contracts, actively contributes to supplies for the Group’s Houses. It is particularly renowned for its celebrated AOC label still wine, the Rosé des Riceys, as well as its collection of Champagnes covering a wide range of palates, both white and rosé, distributed in France and for export. The ALEXANDRE BONNET vineyard, with “Viticulture Durable en Champagne” sustainability and “Haute Valeur Environnementale” environmental certification since 2015, also stands out through the development of a museum to preserve the old Champagne grape varieties.
ALEXANDRE BONNET is present on traditional distribution channels, primarily for export. By valuing and promoting its exceptional vineyard, it is positioning itself as a specialist for Rosé Cuvees and regularly creates outstanding limited-edition Cuvees to satisfy the demands of discerning consumers.
CHAMPAGNE
ALEXANDRE
BONNET
IN LES RICEYS
www.alexandrebonnet.com
/Maison_alexandre_bonnet
/Maison.alexandre.bonnet
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"Forever true to its tradition, ALEXANDRE BONNET creates fine wines worthy
of the best Champagne grapes."
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2018 LANSON-BCC
Bruno Paillard Chairman and Chief Executive Officer
Philippe Baijot Deputy Chief Executive Officer
Évelyne Roques-Boizel Deputy Chief Executive Officer
Marie Paillard
Alice Paillard-Brabant
Florent Roques-Boizel
CM-CIC Investissement represented by Philippe Vidal
FIAG Holding represented by Antoine Gedouin
Michaela Merk
Michel Shapira
BOARD
OF DIRECTORS
Allée du Vignoble - 51100 Reims - France
Tel: +33 (0)3 26 78 50 00
www.lanson-bcc.com
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