Laurent-Perrier (LPE) H1 24/25 earnings summary

Executive summary

• Half-year results declined after three years of strong growth, but operating margin remains high and above pre-Covid levels.

• Group continues to invest in brand support and quality, maintaining its value strategy despite market headwinds.

Financial highlights

• Champagne sales for H1 2024-2025 were €128.8m, down 16.0% year-over-year.

• Operating income fell 32.4% to €38.8m; net profit (Group share) dropped 34.5% to €25.3m.

• Operating margin was 30.1%, down 7.3 points from the prior year.

• Earnings per share decreased to €4.28 from €6.52 year-over-year.

• Operating cash flow was negative at €-39.2m, impacted by inventory rebuilding.

Outlook and guidance

• Results for H1 cannot be extrapolated to the full year due to geopolitical and economic uncertainties in key markets.

• Group remains committed to its value strategy, focusing on high-end champagnes, strong brands, and controlled distribution.