- Closing quarter sales rise by 4% to EUR1.87bn [US$2.04bn]
- Twelve-month top-line up 11% to EUR7.1bn
- Sales growth slows on nine-month +14%
Moët Hennessy has book-ended its performance in 2022 with another single-digit lift in sales, this time from the fourth quarter.
Having started the year with a +2% quarterly sales rise, the wine & spirits arm of LVMH yesterday reported a top-line increase of 4% in the three months to the end of December. Thanks to Q2’s stellar +30% showing, sales for the full year were up by 11%.
In subsequent commentary covering the year as a whole, parent company LVMH noted a 24% jump in sales from 'Champagne & wines', while 'Cognac & spirits' increased by 14%. For the former, "strong demand in Europe, Japan and emerging countries led to increasing supply constraints", while a focus on the value strategy for flagship Cognac brand Hennessy was highlighted for the latter.
Also referenced was a challenging start to the year in the US, where logistics-related issues were prevalent, while localised COVID measures impacted performance in China.
Despite the negatives, spirits brands Ardbeg and Glenmorangie showed "strong progress" in 2022m as did Belvedere vodka, thanks to its US activation last year fronted by actor Daniel Craig.
LVMH CEO Bernard Arnault: “Our performance in 2022 illustrates the exceptional appeal of our Maisons and their ability to create desire during a year affected by economic and geopolitical challenges. We approach 2023 with confidence but remain vigilant due to current uncertainties."
Earlier this week, Diageo reported a 9% top-line increase in the closing half of last year.
Moët Hennessy's official Q4 & full-year 2022 results announcement.
Group presentation on recent performance.
How premium brown spirits can ride out the macroeconomic storm – Category Intel
