15 May 2007 - Over the first quarter of 2007, Belvédère generated sales of EUR 202.6 million, up 65.4%.
Pro-forma, the solid progression of sales of spirits (up 9.6% in volume terms) enabled the Group to post sustained growth in activity. As such, pro-forma revenue excluding excise duties was up by 12.5%. At constant exchange rates, this increase came out at 13% to EUR 121.1 million.
Sales by country
In France (48.7% of Q1 20071 revenue), activity was up 0.7% and remains underpinned by the ongoing success of the William Peel and Sir Pitterson brands.
In Poland (31.3% of Q1 20071 revenue), revenue excluding excise duties and like-for-like was up 7.4%. At the end of March, the Group’s market share in vodka production remained high at 27.8% (AC Nielsen).
In Lithuania, (3.7% of Q1 20071 revenue), the Sobieski brand continued to have great success which led to an 8.6% increase in sales.
In Spain, (2.9% of Q1 20071 revenue), activity was up 7.2%, bolstered mainly by the Anisette Marie Brizard.
In Bulgaria (1.3% of Q1 20071 revenue), the Group is now beginning to reap the rewards from its investments in wine over several years with a strong progression in domestic sales. As such, revenue in Bulgaria has doubled over one year to EUR 1.6 million (up 101%).
Outlook for growth and profitability
The solid figures posted at the beginning of the year not only underline the perfect integration of Marie Brizard Group and the distributors recently acquired in Poland but also the Group’s capacity to generate sustained organic growth. This trend should be confirmed over the coming quarters and lead to a further significant improvement in margins.