For its 2024-2025 fiscal year, which ended on March 29, 2025, the Société des alcools du Québec (SAQ) reported net income of $1.401 billion, a $27.3 million or 1.9% decrease from the preceding fiscal year.

Results in brief

The 2024-2025 fiscal year consisted of 52 weeks. The results are compared with those of the 2023-2024 fiscal year, which comprised 53 weeks.

  • A $1.401 billion dividend, corresponding to the entirety of the net income earned, will be remitted to the Quebec government.
  • Government revenues totalled $2.609 billion, down $84.3 million from the preceding fiscal year. The goods and services tax (GST) break accounts for $27.6 million of the decrease. Altogether, $2.130 billion is destined for the Quebec treasury and $478.4 million for the federal government.
  •  Overall dollar sales decreased 1.4% to end the fiscal year at $4.042 billion. Volume sales fell 3% to 216.4 million litres.
  • Sales in the SAQ’s store and specialized centre network dropped $90.4 million or 2.4% from the preceding fiscal year, with the corresponding volume sales declining 8.7 million litres or 4.6%. The trend toward lower volumes noted in the last two years is largely due to changes in customers’ shopping habits*.
  • The SAQ will continue deploying initiatives to deal with market conditions and the trend toward lower volumes.  

Net income

$1.401 billion

-1.9%

Sales

$4.042 billion

-1.4%

Gross margin

$2.020 billion

-0.6%

Ratio of net expenses to sales

15.3%

14.7% in fiscal 2023-2024


*Information evaluated on a comparable fiscal year-over-year basis.


Detailed results:

Store and specialized centre network (permit holder, agency store and other customers)

  • Dollar sales in this network totalled $3.682, a $90.4 million or 2.4% decrease.
  • Volume sales fell 8.7 million litres or 4.6% to 178.8 million litres.
  • Online sales were up 2.6% from the preceding fiscal year, reaching $107.3 million and accounting for 3.6% of consumer sales.
  • The value of consumers’ average shopping cart increased 0.3%, going from $63.13 to $63.35.
  • For consumer sales overall, the average per-litre sales price rose to $22.03, compared with $21.68 for the preceding fiscal year.


Wholesale grocer network

  • Dollar sales in this network grew $31.9 million or 9.7% to reach $359.9 million.
  • Volume sales totalled 37.6 million litres, compared with 35.5 million litres for the preceding fiscal year, a 2.1 million litre or 5.9% increase.
  • 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 $618.7 million versus $603.6 million for the preceding fiscal year, a $15.1 million or 2.5% increase.
  • Expressed as a percentage of sales, net expenses ratio ended the year at 15.3%, compared with 14.7% for the preceding fiscal year.


The SAQ makes its results available to all Quebecers in its Annual Report 2024-2025.