Pommery House: Revenue Down by 3.6%, but Market Share Increases
Pommery & Associés has presented its 2025 results marked by a tension: the group consolidates its competitive position on its flagship brands, yet faces a 3.6% decline in revenue, reflecting the widespread contraction in Champagne volumes. Between commercial offensives and margin pressures, the company must demonstrate that its strategy of refocusing can offset market uncertainties.
Revenue and Market Dynamics
The consolidated revenue of Pommery & Associés was established at €293.2 million in 2025, down by 3.6% in a context of shrinking Champagne shipment volumes and weakened yield of the appellation. However, during the same period, the group gained market share with its brands, notably through its Pommery and Champagne Pompadour champagnes. This apparent paradox reveals a sectorial reality: the group strengthens where the overall market weakens. By the end of February 2026, in a constant scope and excluding the divestment of Heidsieck & Co Monopole, the group's volumes even increased by 4.2%, with a 9.2% rise for Champagne Pommery, while global Champagne shipments fell by 0.7%. The change of corporate name on January 1, 2026, also marks this priority given to its two flagship brands.
Financial Performance and Strategy
The EBITDA of Pommery & Associés reached €43.3 million in 2025, with a margin rate of 14.8%, down by 140 basis points. The group attributes this erosion to a scissors effect between rising costs and falling volumes. However, the net result of the group improved, driven by the divestment of Heidsieck & Co Monopole carried out within the year. This dichotomy highlights the group's dependency on its non-recurring activities to support its net profitability, while regular business faces usual sector pressures. Nevertheless, Pommery & Associés accelerates its debt reduction: the financial structure has strengthened, with equity amounting to €430.2 million (30.7% of total balance sheet), and the group continues its strategy of divesting non-strategic assets with a target exceeding €50 million for 2026.
Optimistic Outlook for 2026
The group displays an optimistic trajectory for 2026. An improvement in regular operational margins is expected, driven by the new model of sustainable viticulture in the southern vineyards, whose effects should accelerate the 2026 results. The reduction in financial expenses, following the planned asset divestments in the debt reduction trajectory, should also support profitability. On the commercial front, Pommery & Associés intends to continue gaining market share, with volumes almost stable by the end of March 2026 despite the divestment of Heidsieck. The year 2026, marked by the group's 50th anniversary and Pommery's 190th anniversary, will be punctuated by exceptional vintages. Finally, the group will propose a dividend of €0.80 per share for 2025, corresponding to a gross yield of 7.84% based on the stock price as of March 27, 2026. The major challenge for investors will be to verify that the group effectively improves its regular operational margins in a still depressed Champagne environment, and that its strategy of commercial refocusing sustainably compensates for the negative volume effect of the market.
