WINES & SPIRITS CONTRASTING TRENDS ACROSS DIFFERENT MARKETS FOLLOWING AN EXCEPTIONAL YEAR IN 2022
Ruinart
Revenue €6,602m -4% vs 2022(1)
Profit from recurring operations €2,109m -2% vs 2022
Operating margin 32.0%
(1) With comparable structure and constant exchange rates.
Ruinart
The Wines & Spirits business group saw a revenue decline (-4% organic) in 2023, faced with a particularly high basis of comparison. Profit from recurring operations was down 2%.
Driven by its value strategy, the champagne business posted growth, with a good performance in Europe and Japan offsetting the effects of an unfavorable macroeconomic environment in the United States. Hennessy cognac was affected by a mixed recovery in China and by the post-Covid normalization of demand in the United States, while efforts continued to maintain optimal inventory levels among retailers. In Provence rosé wines, LVMH acquired the prestigious Minuty estate, the second-largest market player after Château d’Esclans, which also continued its international development.