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Financial results for fiscal 2012-2013

The SAQ’s net earnings climb 3.1% to reach $1.030 billion

 

 

Montreal, June 14, 2013 – The SAQ ended its 2012–2013 fiscal year with net earnings of $1.030 billion, up 3.1% from the preceding year. The government corporation’s sales rose 2.5% from fiscal 2011–2012, reaching $2.907 billion for the year, which comprised 52 weeks of operation as opposed to the preceding year’s 53 weeks. On a comparable 52-week basis, the annual increase would have been around 4.1%. Expressed as a percentage, net earnings amounted to 35.4% of sales versus 35.2% in fiscal 2011–2012. As a result, the SAQ remitted a dividend of $1.030 billion to the Quebec government at year-end, $9 million more than the amount specified for this reference year in its 2013–2015 Strategic Plan. In all, federal and provincial government revenues from the SAQ’s business activities, in the form of dividends, federal duties and consumption taxes, totalled $1.945 billion, of which $1.560 billion was remitted to the Quebec treasury.

 

 

Operating ratio under control

 

Net expenses totalled $522.4 million at fiscal year-end versus $509.6 million for the preceding year, a $12.8 million or 2.5% increase.

 

Expressed as a percentage of sales, net expenses amounted to 18% in fiscal 2012–2013, a performance identical to that achieved in fiscal 2011–2012.

 

 

Well-performing sales networks

 

In fiscal 2012–2013, sales in the SAQ’s entire sales and distribution network totalled $2.907 billion, an increase of nearly $70 million or 2.5%. The corresponding volume sales grew by 2.3 million litres to reach 191.2 million litres.

 

Specifically, the outlet and specialized centre network had sales of $2.585 billion at fiscal year-end, a $60.8 million or 2.4% increase. The corresponding volume sales grew 1.1%, from 149.1 million litres to 150.8 million litres.

 

For their part, sales in the wholesale grocer network rose 2.9% from the preceding fiscal year, reaching $321.8 million, while volume sales rose 1.5% to 40.4 million litres.

 

 

Wine accounted for 83.5% of the overall sales increase

 

Sales of most product categories were up in fiscal 2012–2013. The wine category, with sales of $2.183 billion, saw growth of $58.4 million or 2.7% from the preceding fiscal year. Ever more appreciated by Quebecers, wine accounted for 83.5% of the overall sales increase in the year just ended. The category’s corresponding volume sales rose 2.1 million litres to 157.3 million litres in fiscal 2012–2013.

 

Sales of spirits, which are sold only through the outlet and specialized centre network, also continued to grow, ending the year at $633.8 million, a $12 million or 1.9% increase from fiscal 2011–2012. The category’s volume sales totalled 22 million litres, up a slight 0.9%.

                                                       

Lastly, sales for the imported and microbrewery beers, ciders and coolers category declined a slight 0.6% to end the year at $90.1 million. The corresponding volume sales remained stable at 11.9 million litres.

 

 

The next fiscal year

 

To continue satisfying its customers, achieving success and meeting its objectives, the SAQ, with the help of its personnel, will focus on the priorities of its 2013–2015 Strategic Plan, whose initiatives are inspired by new retailing trends.

 

The SAQ’s 2013 annual report will be published in the coming days on SAQ.com.