Subjects: ERN, CPG
The SAQ announces net income of $1.426 billion for fiscal 2022-2023
MONTREAL, June 7, 2023 /CNW/ - The SAQ ended its 2022-2023 fiscal year with net income of $1.426 billion, up $76.1 million or 5.6% from the preceding fiscal year. Dollar sales rose 5% to $4.048 billion, while litre sales reached 228.2 million litres, a 0.9% increase.
Results at a glance
- For the 11th year running, the SAQ will pay more than $1 billion to the benefit of all Quebecers. Specifically, a dividend of $1.426 billion will be remitted to the Quebec government.
- Government revenues rose $115.5 million (4.5%) to $2.697 billion. Of that amount, $2.179 billion will go to the Quebec treasury and $517.4 million to the federal government.
Net income $1.426 billion +5.6% | Sales $4.048 billion +5% |
Gross margin $2.040 billion +5.5%
| Ratio of net expenses to sales 15.2% |
Store and specialized centre (permit holders, agencies and other customers) network
- Dollar sales in this network totalled $3.684 billion, up $175.8 million or 5%. The increase is attributable to sales made to restaurants and bars.
- Volume sales rose 0.5 million litres or 0.3% to 186.8 million litres.
- Online sales were down 12.3% from the preceding fiscal year to $93.3 million. This result is nonetheless double that for pre-pandemic fiscal 2019-2020. They now account for 3.1% of consumer sales.
- The average sales price per liter in the store network and online increased to $21.34 versus $20.67 for the preceding fiscal year.
- The value of consumers' average shopping cart dropped from $68.94 to $65.26. This 5.3% decrease is mainly due to shoppers returning to their old habits, as indicated by the 4.3% rise in traffic.
- In fiscal 2022-2023, sales of Quebec products rose 9.1% to $584.5 million. They now account for 15.9% of all sales made in the store and specialized centre network.
Wholesale grocer network
- Dollar sales in this network grew $17.6 million or 5.1% to $364 million.
- Volume sales experienced a 1.5 million litre or 3.8% increase, ending the year at 41.4 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 rose to $613.5 million as opposed to $584 million in fiscal 2021-2022, a $29.5 million or 5.1% increase.
- Expressed as a percentage of sales, net expenses ratio remained stable at 15.2%, the same as the preceding fiscal year, despite the inflationary environment.
The SAQ makes its results accessible to all Quebecers in its Annual Report 2022-2023.
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 428 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 40,000 products from 3,800 suppliers in 77 countries. In fiscal 2022-2023, the SAQ remitted more than $2.0 billion to the Quebec government and supported some 230 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
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