Yesterday Monday, Vranken-Pommery started the week gloriously with a surprisingly high jump of more than 21% to 17.5 euros, its highest level since March 2020. Today, halfway through February 16, the Champagne group continues its progress with +5.37% to 18.65 euros.
Questioned yesterday by AOF, the financial director, Franck Delval, indicated that neither the group nor the Vranken family (main shareholder) were at the origin of this increase.
Trading volumes were also surprising with around 65,000 shares traded, compared with less than 3,000 per day over the last three sessions, representing 0.73% of capital traded.
Several factors are likely to have influenced the title: rumours that wine taxes in the United States may be reduced, namely that the group sells rosé de Provence in the United States.
Then, the action could also be carried by a possible deconfinement in the United Kingdom, a major consumer of champagne, even if its sales only represent around 3% of Vranken Pommery’s total turnover, according to Franck Delval.
The newspaper L’Echo also considered that the alcoholic drinks sector was promising in terms of action, foreseeing a return to the “Roaring Twenties”.
“I’m willing to bet that next summer, champagne will make its big comeback” confided Pierre Huylenbroeck of Mister Market Magazine in the article.
The latter took the opportunity to highlight Vranken-Pommery’s stock market performance, “In this case, Vranken-Pommery will be interesting. At 14 euros, its stock market price is well below its book value, which is over 40 euros per share, and where many tangible assets such as vineyards and castles can be found. Let’s not forget that China is already in the process of returning to normal life. And there they are very fond of Vrancken products”.
What is certain is that it is not a sectoral movement, the champagne sector having been considerably weakened by the pandemic. In fact, champagne sales showed a drop of 18 % in 2020 with 245 million bottles shipped worldwide.
In France, sales fell by 20%, and on the export market, the drop was only 16%, to 131 million bottles.
“It’s a black year, but we managed the crisis well by limiting production (…) and the final result is better than we feared in July,” said the president of the Union of Champagne Houses, Jean-Marie Barillère, during a press conference online with Maxime Toubart, president of the General Union of Champagne Winegrowers (SGV).
He also estimated the sector’s overall loss of turnover “at 1 billion euros less than in 2019”.
Featured photo : © Press
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