The SAQ announces net income of $1.350 billion for fiscal 2021-2022

MONTREAL, June 7, 2022 /CNW Telbec/ - The SAQ ended its 2021-2022 fiscal year with net income of $1.350 billion, up $130.9 million or 10.7% from the preceding fiscal year. Dollar sales rose 7.4% to $3.854 billion, while litre sales reached 226.2 million litres, a 1.8% increase.

A $1.350 billion dividend

For the 10th year running, the SAQ will pay more than $1 billion to the Quebec government, funds that will benefit all Quebecers. Total government revenues rose $175.1 million or 7.3% to $2.581 billion. Of that amount, $2.085 billion will go to the Quebec treasury and $496.5 million to the federal government.

The relaxing of public health measures, which began in the second quarter, continued through December, helping to boost sales. In addition, the maintaining of certain restrictions on travel outside Quebec contributed to a positive tourism balance, with Quebecers tending to stay in the province.

Net income $1.350 billion +10.7%	Sales  $3.854 billion +7.4%
Gross margin $1.934 billion +7.2%	Ratio of net expenses to sales 15.2%

Store and specialized centre (permit holders, agencies and other customers) network 

• Dollar sales in this network totalled $3.508 billion, a $309.8 million or 9.7% increase.
• Volume sales rose 11.2 million litres or 6.4% to 186.3 million litres.
• Cooler sales reached $118.4 million, a $36 million or 43.7% increase. Volume sales totalled 20.7 million litres, up 6 million litres or 40.8%. Consumers' unflagging enthusiasm for these products explains this performance.
• The gradual re-opening of bars and restaurants was a contributing factor to the $200.9 million increase in sales to this customer segment.
• The average sales price per litre was $20.67 versus $20.32 for the preceding fiscal year.
• The value of consumers' average shopping cart dropped from $76.05 to $68.94. This 9.3% decrease is mainly due to a gradual return to conventional shopping behaviour, with customers visiting stores more often but spending less each visit.
• Online dollar sales rose 9.8% to $106.4 million. They now make up 3.5% of all consumer sales.
• In fiscal 2021-2022, sales of Quebec products rose 10.6% to $535.9 million. Of those sales, $30 million or 5.6% involved Origine Québec products. Quebec products now account for 15.3% of all sales made to consumers.

Wholesale grocer network

• Dollar sales in this network fell $45.9 million or 11.7% to $346.4 million.
• Volume sales experienced a 7.3 million litre or 15.5% decrease, ending the year at 39.9 million litres. After experiencing a sharp increase in fiscal 2020-2021 during the height of the pandemic, sales in this network have returned to a level similar to that of preceding fiscal years.
• It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales made in this network do not necessarily correspond to the sales these establishments made to consumers.

Net expenses

• Net expenses totalled $584 million, compared with $584.7 million for the preceding fiscal year, a $0.7 million or 0.1% decrease.
• Expressed as a percentage of sales, net expenses were 15.2% as opposed to 16.3% in fiscal 2020-2021. This is the best performance in the last 10 years.

The SAQ's results are accessible to all Quebecers in its Annual Report 2022 (available soon).

About the Société des alcools du Québec (SAQ)

Created in 1921, the SAQ imports, distributes and sells a broad range of wines, beers and spirits. Its sales network comprises 410 stores and 426 agency stores located throughout Quebec as well as a transactional website, SAQ.COM. Driven by the passion and know-how of its 7,000 employees, the SAQ offers Quebecers a world of discovery, with nearly 44,000 products from 3,700 suppliers in 76 countries. In fiscal 2021-2022, the SAQ remitted more than $2.0 billion to the Quebec treasury and provided support to more than 250 organizations and events, while also ensuring its business activities respected local communities and the environment.

For more information, visit the SAQ.COM website, follow us on Twitter (@LaSAQ_officiel) or view our Facebook and LinkedIn pages.

SOURCE Société des alcools du Québec - SAQ

Clémence Beaulieu Gendron, Media Relations, SAQ, 581-994-0364, [email protected]