MONTREAL, Sept. 2, 2022 /CNW Telbec/ - For the first quarter of its 2022-2023 fiscal year, which ended on June 18, 2022, the SAQ reported net income of $325.6 million, a $41.6 million or 14.6% increase from the same quarter of the preceding fiscal year. Dollar sales rose 9.7% to $913.1 million, while litre sales reached 53.7 million litres, a 2.9% increase.
The sales growth is attributable to the resumption of business activities in the hospitality industry (restaurant and bar).
Net income $325.6 million +14.6% |
Sales $913.1 million +9.7% |
Gross margin $460.0 million +11.5% |
Ratio of net expenses to sales 14.7% |
- Dollar sales in this network totalled $830.5 million, an $80.6 million or 10.7% increase.
- Volume sales rose 1.7 million litres or 4% to 44.1 million litres.
- The reopening of restaurants and bars was a factor contributing to the $93 million increase in sales to this customer segment. Restaurant sales have now reached prepandemic levels, with consumer sales dropping $12.2 million as a result.
- Online dollar sales totalled $23.8 million, an 8.5% decrease. They now make up 3.6% of all consumer sales.
- The average sales price per litre rose to $20.36 versus $19.77 for the corresponding quarter of last fiscal year.
- The value of the average shopping cart of in-store customers dropped from $69.71 to $65.40. The 6.2% decrease is mainly due to consumers' gradual return to their former shopping habits; they now shop more frequently, as is shown by the 4.6% increase in store traffic, but spend less each visit.
- For the first quarter of the 2022-2023 fiscal year, sales of Quebec products totalled $128.2 million, a 12.1% increase. Quebec products now account for 19.2% of consumer sales. Of the total, $7.2 million was for Origine Québec products, which now make up 5.6% of all Quebec product sales.
- Dollar sales in this network rose $0.3 million or 0.4% to $82.6 million.
- Volume sales experienced a 0.2 million litre or 2% decrease to end the quarter at 9.6 million litres.
- 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 totalled $134.4 million as opposed to $128.5 million for the first quarter of fiscal 2021-2022, a $5.9 million or 4.6% increase.
- Expressed as a percentage of sales, next expenses in the first quarter were 14.7%, compared with 15.4% for the same quarter last fiscal year.
The SAQ's quarterly financial results, including its sales and expense trends for the last five years, are accessible to all Quebecers in its Quarterly Report Q1, now available (in French only) on SAQ.COM.
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
Source: Clémence Beaulieu Gendron, Media Relations, SAQ, 581-994-0364, [email protected]
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