Pommery: Revenue up 0.6% in H1 2026 on a Like-for-Like Basis Compared to H1 2025
On July 16, 2026, Maison Pommery & Associés announced its financial results for the first half of 2026. Consolidated revenue fell by 12.4% to €95.7 million in reported figures, but this decline masks two opposing movements: on one hand, the divestiture of the Heidsieck & Co Monopole brand and the reduction in non-operational sales (combined €14.1 million); on the other hand, a 0.6% increase in like-for-like revenue, driven by growth in premium champagnes and international expansion. The group is thus navigating between portfolio restructuring and acceleration of its high-margin segments, in a context of ongoing refinancing.
Champagne Sales Grow Despite a Challenging Comparison Base
The Champagne business, the core of the group, recorded a mixed performance. Reported revenue fell to €83.4 million (-11.5%), but on a like-for-like basis, it increased by 4.4% compared to the first half of 2025. This growth is based on a 4.6% increase in the volume of bottled shipments, despite a market growth of only 1.2% in shipments, indicating a market share gain. The flagship brand Champagne Pommery & Greno showed particularly strong dynamics with a 7.1% increase, reflecting the strength of premium cuvées whose share in the portfolio continues to grow. The group also initiated the marketing of the Champagne Pompadour brand in its main markets, with positive initial results reinforcing the premium positioning.
Major Transactions Reflect Downsizing
Reported revenue reflects two major transactions that have reduced the group's size: the divestiture of Heidsieck & Co Monopole accounted for €9.6 million and the decrease in interprofessional sales without EBITDA contribution accounted for €4.5 million. These two movements total €14.1 million on a revenue of €109.3 million in the previous semester, representing 12.9% of the portfolio. The group has explicitly reduced a non-contributive segment (interprofessional sales) and divested a secondary brand, focusing its efforts on high-value-added segments. This refocusing strategy is accompanied by an expansion of Sparkling Wines, which grew by 31.1%, and a measured growth in wines from Provence and Camargue (+1.7%). The Portuguese Douro activity saw a 26.4% increase in dry wines, offset by a decline in Port wines.
Qualitative Outlook and Ongoing Refinancing
The group does not commit to any numerical guidance for the second half of 2026. The stated outlook remains qualitative: to maintain commercial momentum in the second half by focusing on the development of premium cuvées and strengthening positions in key markets. In parallel, Maison Pommery & Associés continues refinancing efforts in close consultation with its banking partners, while Henkell International continues its due diligence for a potential divestiture operation. This refinancing activity and exploration of partnerships add to the need to confirm commercial execution on its priority brands to support the trajectory.
