MONTREAL, March 20, 2025 /CNW/ - For the third quarter of its 2024-2025 fiscal year, which ended on January 4, 2025, the Société des alcools du Québec (SAQ) reported net income of $514.1 million, an $8.6 million or 1.6% decrease from the corresponding quarter of the preceding fiscal year.
Results in brief
- Sales in the network of SAQ stores and specialized centers have decreased by $6.9 million, or 0.5%, compared to the corresponding quarter of the previous fiscal year, reflecting a decline in sales volume of 1.9 million liters, or 3.1%. Volumes in this network maintained their downward trend, as has been the case for the last two years, a development largely attributable to changes in customers' shopping habits.
- Overall dollar sales dropped 0.3% to $1.410 billion.
- Government revenues totalled $917.3 million, down $30.1 million from the corresponding quarter of the preceding fiscal year, with the goods and services tax (GST) break accounting for $12 million of the decrease. Of the total amount, $763 million will be remitted to the Quebec treasury and $154.3 million to the federal government.
- The SAQ has taken measures to address the constantly evolving market context as well as the downward trend in volumes.
Net income $514.1 million -1.6% |
Sales $1.410 billion -0.3% |
Gross margin $703.8 million stable
|
Ratio of net expenses to sales 13.5% 12,8% in Q3 2023-2024 |
Detailed results
Store and specialized centre (permit holders, agency stores and other customers) network
- Dollar sales in this network totalled $1.283 billion, a $6.9 million or 0.5% decrease.
- Volume sales fell 1.9 million litres or 3.1% to 58.5 million litres.
- Online sales were down 2.9% from the corresponding quarter of the preceding fiscal year, reaching $43.3 million and accounting for 4.0% of consumer sales.
- The value of customers' average shopping cart increased 0.2%, going from $67.65 to $67.76.
- For consumer sales overall, the average sales price per litre rose to $23.54, compared with $23.11 for the corresponding quarter of the preceding fiscal year.
Wholesale grocer network
- Dollar sales in this network grew $3.1 million or 2.5% to reach $127.5 million.
- Volume sales remained stable at 13.2 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
- Net expenses rose to $189.7 million versus $181.2 million in the corresponding quarter of fiscal 2023-2024, an $8.5 million or 4.7% increase.
- Expressed as a percentage of sales, net expenses in the third quarter were 13.5%, compared with 12.8% for the same quarter of the preceding fiscal year.
The SAQ's quarterly financial results, including the sales and expense trends for the last five years, will be found in its Q3 financial report (in French only).
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 409 stores and 429 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 more than 40,000 products from 6,000 suppliers in 79 countries. In fiscal 2023-2024, the SAQ remitted more than $2.2 billion to the Quebec government and supported some 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 X (@LaSAQ_officiel) or view our Facebook and LinkedIn pages.
SOURCE Société des alcools du Québec (SAQ)
Source: Laurianne Tardif, Media Relations, SAQ, 418 409-2347, [email protected]
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