The SAQ announces net income of $350.4 million for the second quarter of fiscal 2022-2023

MONTREAL, Dec. 9, 2022 /CNW Telbec/ - For the second quarter of its 2022-2023 fiscal year, which ended on September 10, 2022, the SAQ reported net income of $350.4 million, a $12.7 million or 3.8% increase from the same quarter of the preceding fiscal year. Dollar sales rose 2.5% to $951.4 million, while litre sales reached 55.9 million litres, a 0.2% increase.

Store and specialized centre (permit holders, agencies and other customers) network

• Dollar sales in this network totalled $876 million, a $16.9 million or 2% increase.
• Volume sales dropped 0.5 million litres or 1% to 47.5 million litres.
• The reopening of restaurants and bars was a factor contributing to the $18.7 million increase in sales to this customer segment. Restaurant sales have now reached prepandemic levels, with in-store sales dropping $2.7 million as a result.
• Online dollar sales totalled $17.7 million, a 17.3% decrease. They now make up 2.5% of all consumer sales.
• The average sales price per litre rose to $19.99 versus $19.56 for the corresponding quarter of last fiscal year.
• The average value of the of in-store customers' shopping cart dropped from $65.84 to $64.51. This 2% decrease is mainly due to consumers' gradual return to their former shopping habits; they now shop more frequently, as is shown by the 1.1% increase in store traffic, but spend less each visit.
• For the second quarter of the 2022-2023 fiscal year, sales of Quebec products totalled $146.7 million, a 10.4% increase. Quebec products now account for 20.7% of consumer sales. Of the total, $8.8 million was for Origine Québec products, which now make up 6% of overall Quebec product sales.

Wholesale grocer network

• Dollar sales in this network rose $6.4 million or 9.3% to $75.4 million.
• Volume sales experienced a 0.6 million litre or 7.7% increase to end the quarter at 8.4 million litres.
• 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 totalled $132.5 million as opposed to $129.7 million for the second quarter of fiscal 2021-2022, a $2.8 million or 2.2% increase.
• Expressed as a percentage of sales, net expenses in the second quarter were 13.9%, compared with 14% for the same quarter last fiscal year.

Contribution to the Quebec treasury

• In the second quarter of its 2022-2023 fiscal year, the SAQ remitted $530.7 million to the Quebec government, a $15.3 million or 3% increase from the same quarter of last fiscal year.
• This amount is composed of the net earnings from operations and the consumer taxes collected.

The SAQ's quarterly financial results, including its sales and expense trends for the last five years, are accessible to all Quebecers in its Quarterly Report Q2, now available (in French only) on SAQ.COM.

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 410 stores and 426 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 76 countries. In fiscal 2021-2022, the SAQ remitted more than $2.0 billion to the Quebec treasury and provided support to more than 250 organizations and events, while also ensuring its business activities respected local communities and the environment.

For more information, visit the SAQ.COM website, follow us on Twitter (@LaSAQ_officiel) or view our Facebook and LinkedIn pages.

SOURCE Société des alcools du Québec - SAQ