The SAQ announces net income of $284 million for the first quarter of fiscal 2021-2022
Montreal, August 30, 2021 – For the first quarter of its 2021-2022 fiscal year, which ended on June 19, 2021, the SAQ reported net income of $284 million, up $40.5 million or 16.6% from the first quarter of the company’s preceding fiscal year. Dollar sales rose 8.3% to $832.2 million, while litre sales reached 52.2 million litres, a 3.6% increase. During the first quarter of fiscal 2020-2021, the introduction of various public health measures had an adverse impact on sales, partly explaining the increase in the quarter just ended.
Ratio of net expenses to sales
Store and specialized centre (permit holders, agencies and other customers) network
• Dollar sales in this network totalled $749.9 million, a $71.6 million or 10.6% increase.
• Volume sales rose 3.1 million litres or 7.9% to 42.4 million litres.
• Cooler sales reached $38.9 million, a $13.1 million or 50.8% increase. Volume sales were up 2.3 million litres or 50% to 6.9 million. This performance is attributable to customers’ unflagging enthusiasm for these products, especially ones from Quebec.
• Public health measures and the closing of restaurants and bars affected this network’s sales in the first quarter of fiscal 2020-2021. The gradual re-opening of the hospitality industry was a contributing factor to the $27.2 million increase in sales to this customer segment.
• The average sales price per litre was $19.77 versus $19.32 in fiscal 2020-2021. The value of consumers’ average shopping cart dropped from $85.82 to $69.71. These results point to a gradual return to conventional shopping behaviour, with customers visiting stores more often but spending less each visit.
• Online dollar sales rose 7.9% to $26 million and now account for 3.8% of consumer sales.
Wholesale grocer network
• Dollar sales in this network fell $8 million or 8.9% to $82.3 million.
• Volume sales experienced a 1.3 million litre or 11.7% decrease to end the quarter at 9.8 million litres.
• The public health measures and the closing of the restaurant industry had boosted sales in this network in the first quarter of fiscal 2020-2021.
• Net expenses totalled $128.5 million, compared with $138.1 million for the first quarter of last year, a decrease of $9.6 million or 7%.
• Compared with the corresponding quarter of fiscal 2020-2021, the company lowered its expenses even as it continued following the public health guidelines implemented to protect customers’ health and safety.
• Expressed as a percentage of sales, net expenses were 15.4% as opposed to 18% in fiscal 2020-2021.
The SAQ’s detailed results, including sales and expense data for the last five years, are accessible to all Quebecers in its Quarterly Report Q1 2021-2022, now available (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 nearly 44,000 products from 3,700 suppliers in 82 countries. In fiscal 2020-2021, the SAQ supported some 300 organizations and events and paid a dividend of $1.219 billion to the Quebec government, while also ensuring its business activities respected local communities and the environment.