The SAQ announces net income of $541.4 million for the third quarter of fiscal 2022-2023

MONTREAL, March 27, 2023 /CNW/ - For the third quarter of its 2022-2023 fiscal year, which ended on December 31, 2022, the SAQ reported net income of $541.4 million, a $45.7 million or 9.2% increase from the same quarter of the preceding fiscal year.

Net income $541.4 million +9.2%	Sales $1.427 billion +5.4%
Gross margin $723.2 million +7.1%	Ratio of net expenses to sales 12.7%

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

• Dollar sales in this network totalled $1.290 billion, a $58.9 million or 4.8% increase. Of this increase, 70% is attributable to hospitality industry sales, most notably during the 2022 holiday period, which were no longer affected by the public health restrictions in effect during the corresponding quarter of the preceding year.
• Volume sales remained stable at 61.6 million litres.
• Online dollar sales totalled $34.3 million, a 6% decrease. They now make up 3.2% of all consumer sales.
• The average sales price per litre rose to $22.79 versus $21.84 for the corresponding quarter of last fiscal year.
• The average value of in-store customers' shopping cart dropped from $71.45 to $68.95. This decrease is mainly due to consumers' returning to their pre-pandemic shopping habits.
• For the third quarter of the 2022-2023 fiscal year, sales of Quebec products totalled $199.6 million, a 7.1% increase. Quebec products now account for 15.5% of sales in the store and specialized centre network.

Wholesale grocer network

• Dollar sales in this network rose $14.6 million or 11.9% to $137.8 million.
• Volume sales experienced a 1.2 million litre or 8.5% increase to end the quarter at 15.4 million litres.
• It should be noted that the SAQ acts as a wholesaler to the Quebec grocery and convenience store network. Consequently, the sales in this network do not necessarily correspond to the sales these establishments made to consumers.

Net expenses

• Net expenses totalled $181.8 million as opposed to $179.7 million for the third quarter of fiscal 2021-2022, a $2.1 million or 1.2% increase.
• Expressed as a percentage of sales, net expenses in the third quarter were 12.7%, compared with 13.3% for the same quarter last fiscal year.

Contribution to the Quebec treasury

• In the third quarter of its 2022-2023 fiscal year, the revenue generated for the Quebec government reached $801.7 million, a $52.1 million or 7% increase from the same quarter of last fiscal year.
• This amount is composed of the net earnings from operations and the consumer taxes collected.

The SAQ's quarterly financial results, including the sales and expense trends for the last five years, are accessible to all Quebecers in its Quarterly Report Q3, now available (in French only) on SAQ.COM.

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

Geneviève Cormier, Media Relations, SAQ, 514 941-5640, [email protected]