The system had shortcomings by partitioning he said25 but that economists assess rather than 2 at mostI do everything to achieve the best resultsI did not come back I do not have the habit of winningDespite this setback the CEO of Airbus expressed confidenceIndeed this is done already from time to timeAttention however the stress test must be well doneToday the British market undertaking is expensiveHe had already been decided to add a family memberA very juicy system and obviously leads to swelling of the costs"The crisis has caught the Champagne," acknowledged Friday in Epernay (Marne) the leaders of the wine center of Champagne (HVAC), representing the first union of cooperatives of champagne, with its 84 cooperatives, known for the mark Nicolas Feuillatte. After to be long believed to shelter, winemakers discovered the magnitude of the recession. On the first four months of the year 2009, the sales volume of Nicolas Feuillatte plummeted 34. "It is worrying, but it's better than others", noted Michèle Henault, first Secretary of the Board of Directors. Global market of Champagne have declined by 38 since the beginning of the year, according to the Regional Directorate of the foreign trade. And the price war is raging. Nicolas Feuillatte for his part refused to enter into "suicide rate", in which themselves are discarded some of the larger houses, whose stocks weigh heavy in financial expenses. "It is an irresponsible attitude to propose trademarks to 8 euros the bottle", storm Dominique Pierre, Executive Director of the CAC. "How to explain to the consumer that he paid 22 or 25 euros cheaper brands in 2008" "This triggering devalues the image of the product and sows confusion," he added.
With little debt amounting to 35 of the total of the balance sheet and despite a stock that has increased by 15, to EUR 25 million, the HVAC feels in a good position to defend the value of its products. The discounts and promotions are made "on a case by case", if "the market is worth the candle", says one of its leaders.
New line of credit
The cooperative nature of the group earned him both less return on investment of its membership requirements and the duty to preserve the value of the grape, they battle him. "The commitments made in this matter will be kept", Dominique Pierre promised farmers. Paid 4.90 euros per kilo for the 2008 harvest, it increased by 15 since 2004. Nicolas Feuillatte, brand sold in large distribution in France, says not having realized that 15 of its sales promotion, against 29 for the whole of the champagne.
In 2008, the Group rescued furniture, despite a decrease of 5 (to 83 million of bottles) of the volumes sold on the whole of the year and a slight slowdown for export, with the higher prices that it has passed. Its turnover is set at 193 million euros ( 4), while net income increased by 7, to EUR 10.2 million. HVAC is a quite exceptional course since 2001 by tripling its operating income and quadrupling the current result. It offers a price range of 18 to 130 euros for the pink cuvée, it wishes to continue to evolve in favour of a greater proportion of bottles of quality, great wines and rosé. HVAC is to prepare not less to face the storm of 2009. The Group has provided "to launch hunting economies", delete the acting jobs, very slow "investment". Security and to ensure "prudent management", an additional credit line was opened from its banks. "Immobilism so don't", warns Dominique Pierre. It can reduce the wing while preserving all of our capabilities to take advantage of the recovery as soon as it will be there."