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Consolidated Financial Statements
CONSOLIDATED FINANCIAL STATEMENTS 27 C ONSOLIDATED HIGHLIGHTS in millions of euros 1996 1997 1998 1999 2000 Net sales 4,932 7,513 7,130 8,758 11,867 Income from operations* 1,092 1,275 1,181 1,551 1,967 Income before taxes* 1,017 1,179 969 1,415 1,652 Net current income before goodwill amortization, Group share 282 300 184 295 320 Net income, Group share 191 246 47 264 251 * Adjusted retroactively to account for restatements. euros Net current income before goodwill amortization, per share* 1.68 1.78 1.04 1.63 1.77 * Adjusted to reflect the nominal split by four carried out on 07/03/2000. in millions of euros Total assets 17,042 20,091 21,422 26,330 28,435 Shareholders’ equity 3,358 3,595 3,724 3,887 3,972 Cash generation* 853 1,155 517 922 1,122 * Adjusted retroactively to account for restatements. 29 C ONSOLIDATED BALANCE SHEET in millions of currency units, at December 31 2000 2000 1999 1998 ASSETS Notes FRF Euros Current assets Cash and equivalents 3 4,787 730 664 672 Short-term investments 3 8,700 1,326 187 218 Treasury shares 4 8,989 1,370 903 244 Trade accounts receivable 5 10,992 1,676 1,476 1,153 Net deferred taxes 1,768 269 275 208 Inventories and work-in-progress 6-27 22,503 3,431 2,988 2,603 Other receivables 10,597 1,616 1,912 726 Total current assets 68,336 10,418 8,405 5,824 Fixed assets Investments in companies accounted for by the equity method 7 155 24 14 10 Other investments securities 8 13,455 2,051 4,217 3,777 Other financial fixed assets 2,710 413 261 199 16,320 2,488 4,492 3,986 Property, plant and equipment 9 38,261 -
Dear Wine Lovers, We Are Delighted to Present Fascinating Wine List With
Dear Wine Lovers, We are delighted to present fascinating wine list with the selection of classic rare and fine wines with an outstanding blend of quality and value. Some of the wines listed are rare and exceptionally vintage with only few bottles available in the world. NIYAMA is proud being able to present those unique selections to you. Some of the wines presented have not reached their top maturity yet, however if you wish to experience these, we will guide you through this unique experience. The extensive wine list selected will ensure that even most serious collectors and wine connoisseurs will find something to satisfy, amuse, and delight them. A Passion for Wine –Head Sommelier Piyal Rathnayaka, Assistant Head Sommelier-Vincent Malagueno, Junior Sommelier – Jibil Babu Dom Pérignon “Rarity” Terlano, Cantina Château Grillet, Pétrus, Grand Vin, Oenothèque, di Terlano, Alto Adige, Northern Rhône, Pomerol, Bordeaux, Moët & Chandon, Italy 1991 France 2010 France 2006 Epernay, France 1995 $1450 $510 $13600 $1200 Richebourg Grand Cru, Vega Sicilia, "Unico" Gran La Tache Grand Cru, “Bin 95” Romanée-Conti, Burgundy, Reserva, Ribera del Duero, Romanée-Conti, Burgundy, Penfolds Grange, Barossa , France 1997 Spain 2007 France 1996 South Australia 2009 $4900 $860 $7500 $1750 "The Laird", Torbreck Amarone Classico della Château Latour Château d'Yquem, Premier Estate, Marananga, Valpolicella DOP, Giuseppe (1st Growth), Pauillac, Cru Supérieur, Sauternes, Barossa Valley, Quintarelli, Verona, Bordeaux 2000 France 1995 Australia 2006 Italy 2003 -
Wine by the Glass Sparkling White Rosé
OCEAN HOUSE WINE BY THE GLASS SPARKLING Adami, "Garbel", Prosecco, Veneto, Italy N.V. 10 Billecart-Salmon, "Brut Reserve", Champagne, France N.V. 20 Krug, "Grand Cuvée Brut", Champagne, France N.V. 40 Schramsberg Vineyards, "Blanc de Blancs Brut", North Coast, California, USA 2015 15 Veuve Clicquot Ponsardin, "Brut Rosé", Champagne, France N.V. 20 WHITE Bortoluzzi, Pinot Grigio, Friuli-Venezia-Giulia, Italy 2017 12 Cloudy Bay, Sauvignon Blanc, Marlborough, New Zealand 2017 16 Domaine Zind-Humbrecht, Gewurztraminer, Clos Windsbuhl, Alsace, France 1998 30 Duckhorn Vineyards, Sauvignon Blanc, Napa Valley, California, USA 2016 15 Famille Perrin, Côtes-du-Rhône, Reserve, Rhone Valley, France 2015 9 Hugel & Fils Riesling Classic, Alsace, France 2015 11 Jordan Vineyard, Chardonnay, Russian River Valley, Sonoma County, California, USA 2016 18 Joseph Drouhin, Chassagne-Montrachet, Burgundy, France 2016 25 Kistler Vineyards, Vine Hill Chardonnay, Russian River Valley, USA 2013 25 Pascal Jolivet, "Attitude", Sauvignon Blanc, Loire Valley, France 2017 12 Sonoma-Cutrer Vineyards, Chardonnay, "Russian River Ranches", Sonoma Coast, Sonoma 2016 15 County, California, USA Tenuta dell'Ornellaia, Toscana Bianco, Tuscany, Italy 2013 55 Vie di Romans, Pinot Grigio, "Dessimis", Friuli Isonzo, Friuli-Venezia-Giulia, Italy 2014 25 ROSÉ Château d'Esclans, "Whispering Angel", Côtes de Provence, Provence, France 2017 15 RED Dominus Estate, Napa Valley, California, USA 1994 150 Elouan, Pinot Noir, Oregon 2016 14 Famille Perrin, Côtes-du-Rhône, Reserve 2016 9 Jonathan Edwards, Cabernet Sauvignon, Lodi, California, USA 2016 15 Justin Vineyards, "Isosceles", Paso Robles, San Luis Obispo County, California, USA 2015 30 Lamole, Chianti Classico, Tuscany, Italy 2015 14 Landmark Vineyards, Pinot Noir, "Overlook", California, USA 2016 12 Leviathan, Red Wine Blend, California, USA 2016 20 Louis Latour, Marsannay, Burgundy, France 2016 15 M. -
NOTEBOOK: Wine On-Premise in 2020 — Conversations with New Master Sommeliers: Mariya Kovacheva, MS, Pernod Ricard Justin Moor
NOTEBOOK: Wine On-Premise in 2020 pg. 2 — Conversations with New Master Sommeliers: pg. 3 Mariya Kovacheva, MS, Pernod Ricard Justin Moore, MS, Vetri Cucina, Las Vegas Joshua Orr, MS, Broadbent Selections Jill Zimorski, MS, Strategic Group, Chicago, Illinois STAR LISTINGS (800+ wines) pg. 23 — USA: Gems from Russian River Valley pg. 25 — Outstanding 2016 Cabernet Sauvignons/blends pg. 36 (Napa Valley & Washington State) — Top Merlots, Rhone-Style Blends, Syrahs, Zins pg. 45 — Great Nebbiolos from Piemonte pg. 99 — Focus on Montefalco: Rosso & Sagrantino Are pg. 91 Gaining Momentum — Special Report: 2016 Red Bordeaux pg. 72 www.restaurantwine.com/subscribe Issues #187, #188 & #189 ON-PREMISE WINE 2020: Wine Service Will Sell, but E-MAIL: Not New Tariffs [email protected] looks to be one of the most turbulent years on-premise in a decade. Internet: 2020 The list of challenges and possible issues is lengthy—ranging from labor shortages, food price increases, falling customer counts, the coronavirus www.restaurantwine.com outbreak, and stiffer trade tariffs--which, for the moment, have been postponed, www.ronnwiegand.com pending on-going trade negotiations. www.tastetour.com Despite these headwinds, and inevitable bumps along the road—be they political, ABOUT THE PUBLISHER: social, and/or economic—2020 looks to be a lukewarm if positive year in the US Ronn Wiegand, the first person in the world to hold both for the restaurant industry, notably for restaurants selling wine. the Master of Wine & Master Sommelier titles, had the distinction of passing both exams on his first attempt and receiving exclusive awards (Tim Derouet, Krug Cup) for The most serious downside risk to wine sales in the US on-premise market was the top scores in each. -
2018 Annual Financial Report 1 01 VA V2 24/06/2019 15:19 Page2
01_VA_V2 24/06/2019 15:19 PageI Translation of the French “Rapport financier annuel” Fiscal year ended December 31, 2018 01_VA_V2 24/06/2019 15:19 PageII 01_VA_V2 24/06/2019 15:19 Page1 Contents Management Report of the Board of Directors – Financière Agache group 3 1. The Financière Agache business model 3 2. Business overview, highlights and outlook 7 3. Business and financial review 27 4. Ethics and responsibility 43 5. Environment and sustainability 69 6. Attracting and retaining talent 85 7. Corporate philanthropy 101 8. Financial and operational risk management and internal control 107 Management Report of the Board of Directors – Financière Agache SA 121 1. Results of Financière Agache SA 122 2. Information regarding the Company’s share capital 123 3. Membership of the Board of Directors 123 Board of Directors’ report on corporate governance 125 1. List of all corporate offices and positions held by company officers 126 2. Summary of existing delegations and financial authorizations and use made of them 128 3. Authorizations proposed at the Shareholders’ Meeting 129 4. Information on the related- party agreements covered by Article L. 225- 37- 4 2° of the French Commercial Code 129 Consolidated financial statements 131 1. Consolidated income statement 132 2. Consolidated statement of comprehensive gains and losses 133 3. Consolidated balance sheet 134 4. Consolidated statement of changes in equity 135 5. Consolidated cash flow statement 136 6. Notes to the consolidated financial statements 138 7. Statutory Auditors’ report on the consolidated financial statements 202 Parent company financial statements: Financière Agache 207 1. Balance sheet 208 2. -
MEDIA PACK 2021 Fashion Language FRENCH Opinion MUSIC UNIQUE Tradictionsart
MEDIA PACK 2021 Fashion Language FRENCH Opinion MUSIC UNIQUE tradictionsART LITERATURE VIVRE DE ART economy CULTURE Overview: Founded in 1943, France-Amérique is the only bilingual French-English publication in the United States. Every month, the France-Amérique print magazine offers a compilation of portraits, reports, essays, and interviews to inspire thought and debate, combined with an elegant design and high-quality images. The publication analyzes French life and art de vivre, and offers a unique connec- tion to the French cultural scene in the United States. Thanks to its bilingual format, France-Amérique attracts students of French and English who use the magazine to improve their written comprehension in both languages. OUR COVERSSince the New Year, France-Amérique cover is created by French artist Léa Morichon who creatively adapts an editorial theme from each edition into an artistic cover illustration. CONTENT Each month, readers will find: Insertions: School Guide: NEWS France-Amérique publishes a bi-annual School Guide, COME ON OUT highlighting the latest trends and advancements in French education in the U.S, as well IDEAS as a comprehensive listing of bilingual schools around the BUSINESS country. FASHION TV5MONDE Guide: Each print issue features LIFESTYLE the TV5MONDE Guide, highlighting the channel’s BON APPETIT entire content. CULTURE LANGUAGE UNKNOWN FRANCE JULIO LE PARC The Perrotin gallery presents Julio Le Parc, an exhibition of works by the Paris-based Argentine modernist, a pioneer of kinetic and op art FRENCH CULTURAL EVENTS IN NORTH AMERICA keenly interested in the dynamic between a work and its viewer. April 23 through June 27 at Perrotin in NYC; perrotin.com. -
Wines by the Glass Champagne and Sparkling GLS
Wines By the Glass Champagne and Sparkling GLS BTL Fantinel, Prosecco, Italy 15 55 Aubry Fils Premier Cru, Louy-les-Reims, France NV 30 85 Besserat de Belefon, Brut, Champagne, France 20 115 Besserat de Belefon, Rosé, Champagne, France 25 150 Krug, Grande Cuvee, Reims, NV - half bottle 90 White Wines San Angelo, Pinot Grigio, Tuscany, Italy 2014 14 50 Fillaboa, Albariño, Rias Baixas, Spain 2014 14 50 Leth, Riesling, Feler Weinberge, Wagram, Germany 2014 17 66 Grof Degenfeld, Muscat Blanc, Tokaji, Hungary 2014 16 72 Fel, Chardonnay, Anderson Valley, California 2013 23 75 Duckhorn, Sauvignon Blanc, Napa Valley, California 2013 23 90 Loimer, "Terrasen", Gruner Veltliner, Kamptal, Austria 2013 22 94 Rose Ontañon, Clarete, Rioja, Spain 2013 15 50 Red Wines Castillo de Belarfonso, Méntrida, Spain 2013 14 52 Pulenta, Malbec, Mendoza, Argentina 2011 18 72 Viña Pedroza, Crianza, Ribera del Duero, Spain 2009 18 78 S' de Sao del Coster, Priorat, Spain 2014 20 80 Chateau Anthonic, Cru Bourgois, Moulis-en-Medoc, France 2009 18 82 Beringer, Knights Valley, Cabernet Sauvignon, Napa Valley, California 2013 24 92 Fel, Pinot Noir, Anderson Valley, California 2012 25 98 BUBBLES Sparkling Wines Raventos I Blanc, L'Hereu, Conca del Riu Anoia, Penedes, Spain 2012 71 Raventos I Blanc, de Nit, Conca del Riu Anoia, Penedes, Spain 2012 82 Schramsberg, Blanc de Blancs, Napa Valley, California NV 95 Grof Degenfeld, Extra Brut, Furmint, Tokaji, Hungary 2011 148 Champagne Recoltant Manipulant Aubry, Premier Cru 120 Gaston Chiquet Cuvée Tradition, Premier Cru, NV 170 Varnier-Fannière Brut Rose Grand Cru, NV 190 Marc Hebrart, Cuvee de Reserve, NV 190 Jean Lallement, Brut Grand Cru, NV 198 H. -
From Predators to Icons
From Predators to Icons J&sfra '0 ! 1 From Predators to Icons Exposing the Myth of the Business Hero MICHEL VILLETTE AND CATHERINE VUILLERMOT Translated from the French by George Holoch Foreword by John R. Kimberly ILR Press An Imprint of Cornell University Press Ithaca and London Originally published under the title Portrait de Vhomme d'affaires en predateur, by Michel Villette and Catherine Vuiller mot. © Editions LA DECOUVERTE, Paris, France, 2005. Ouvrage publie avec le concours du Ministere francais de la Culture-Centre national du livre. (This work is published with the help of the French Ministry of Culture, National Center of the Book.) English translation copyright © 2009 by Cornell University All rights reserved. Except for brief quotations in a review, this book, or parts thereof, must not be reproduced in any form with out permission in writing from the publisher. For information, address Cornell University Press, Sage House, 512 East State Street, Ithaca, New York 14850. First published 2009 by Cornell University Press First printing, Cornell Paperbacks, 2009 Printed in the United States of America Library of Congress Cataloging-in-Publication Data Villette, Michel. [Portrait de rhomme d'affaires en predateur. English] From predators to icons : exposing the myth of the business hero / Michel Villette and Catherine Vuillermot; translated from the French by George Holoch; foreword by John R. Kimberly. p. cm. Includes bibliographical references. ISBN 978-0-8014-4700-6 (cloth : alk. paper) — ISBN 978-0-8014-7566-5 (pbk.: alk. paper) 1. Capitalists and financiers. 2. Businessmen. 3. Success in business. 4. Capitalists and financiers—Biography. -
The Robert M. Parker Wine Cellar
The Robert M. Parker Wine Cellar The Robert M. Parker Wine Cellar is named in honor of the man often considered to be the world’s foremost wine authority, a born and bred Baltimorean. The Robert M. Parker Cellar is primarily focused on special, superb small production American wines, although we also have a broad selection of many very fine vintages from around the world. Our goal is to offer unique labels with which one may not ordinarily be familiar. In doing so, we endeavor to support those artisans who are striving to create exceptional wines. Most, but not all, of our wines have been rated in the Wine Advocate by Mr. Parker and are so noted. There are simply too many wines to rate them all, however our sommeliers have carefully selected, tasted and approved each and every wine new to our list. Upstairs at The Ivy offers our Parker 100 Cellar-an ever-growing list of wines rated 99-100 points. “There are few things more enjoyable than a fine meal and a fine wine shared with friends and comrades who love to experience life as it is meant to be.” Robert Parker Although Mr. Parker is a frequent dinner guest at Magdalena he always pays full price. There is no financial remuneration or other relationship whatsoever between the parties. Mr. Parker has authorized us to use his name; we are the only restaurant or wine cellar in the world so permitted. 2 Table of Contents Wine by the Glass 4 Large Format 5 Half Bottles 6 Sparkling Wines 7 Prestige Cuvée Champagnes 8 Mevushal Wines 8 Rosé Wines of the World 9 Domestic White 9 California Chardonnay -
THE WINE LIST = Rating of 90 Or Above
= VIP = Available in Fine Wine & Good Spirits Store THE WINE LIST = Rating of 90 or above ARGENTINA AUSTRALIA Errazuriz Errazuriz Don Maximiano Founder’s Reserve Archaval-Ferrer d’Arenberg Red Blend 2013 Achaval-Ferrer Finca Mirador Malbec 2013 d’Arenberg The Coppermine Road Cabernet Errazuriz MAX Pinot Noir Chile Reserva 2014 Sauvignon 2013 Achaval-Ferrer Finca Quimera Red Blend 2013 Errazuriz MAX Chardonnay Aconcagua Costa d’Arenberg Stephanie the Gnome With Rose Reserva 2015 Achaval-Ferrer Finca Bella Vista Malbec 2013 Tinted Glasses 2016 Errazuriz Kai Carménère 2013 Achaval-Ferrer Finca Altamira Malbec 2013 d’Arenberg The Ironstone Pressings GSM 2013 d’ Arenberg The Dead Arm Shiraz 2011 Bodega Catena Los Vascos by Domaines Barons de Bodega Catena White Bones Chardonnay Rothschild (Lafite) Adrianna Vineyard 2013 Torbreck Domaines Barons de Rothschild Bodegas Caro Mendoza 2014 Bodega Catena Alta Cabernet Sauvignon 2013 Torbreck Runrig Shiraz 2007 Los Vascos Classic Rosé 2016 Bodega Catena Alta Malbec 2013 Caro Aruma Malbec 2016 Bodega Catena Zapata Nicasia Malbec 2012 Two Hands Los Vascos Le Dix Cabernet Sauvignon 2013 Two Hands Coach House Block Shiraz 2014 Trivento Two Hands Bella’s Garden 2014 Trivento Golden Reserve Cabernet 2013 Vina Santa Rita Two Hands Sexy Beast Cabernet Sauvignon Trivento Golden Reserve Malbec 2014 2015 Santa Rita Triple C Red Blend 2013 Two Hands Ares Shiraz 2012 Santa Rita Pehuén Carménère 2011 Vinedos Emiliana Santa Rita Medalla Real Chardonnay 2015 Emiliana Coyam Red Blend 2013 Yalumba Santa Rita Casa Real -
Full Annual Report 2003
03Couv•GB 6/05/04 12:35 Page 1 PASSIONATE ABOUT CREATIVITY ANNUAL REPORT 2003 ANNUAL REPORT 2003 ANNUAL 03Couv•GB 6/05/04 12:35 Page 2 286 10 12 14 16 30 For information, 40 50 60 contact LVMH, 22, avenue Montaigne - 75008 Paris - France Telephone 33 1 44 13 22 22 - Fax 33 1 44 13 21 19 www.lvmh.com Photographs: Guy Marineau, Massimo Sestini/Gentleman, Stéphane Muratet, Taxi/Walter Bibikow, Philippe Stroppa/Studio Pons, 68 Laurent Brémaud, Gilles de Beauchêne, RMN, Tzu-Chen Chen, Laziz Hamani, Alex Buckingham, Greg Kadel, Olivier Claisse/Gamma, Laurent Brémaud, Karl Lagerfeld, Tyen, Carole Bellaïche, Etienne Tordoir, De Visu - Reims, Jean-Philippe Caulliez, Mario Palmieri, Franck Charel, D.R., Photo archives LVMH and Group Companies. Design and production communication 41, rue Camille Pelletan - 92300 Levallois-Perret - France - Tel.: 33 1 49 64 64 64 ISSN : 1292-3737 83 95 LVMH - RA 2003 • GB 4/05/04 14:32 Page 4 A COHERENT UNIVERSE OF MEN AND WOMEN PASSIONATE ABOUT THEIR BUSINESS AND DRIVEN BY THE DESIRE TO INNOVATE AND ACHIEVE. AN UNRIVALLED GROUP OF POWERFULLY EVOCATIVE BRANDS AND GREAT NAMES THAT ARE SYNONYMOUS WITH THE HISTORY OF LUXURY. A NATURAL ALLIANCE BETWEEN ART AND CRAFTSMANSHIP WHERE CREATIVITY, VIRTUOSITY AND QUALITY INTERSECT. A REMARKABLE ECONOMIC SUCCESS STORY WITH NEAR 55,000 EMPLOYEES WORLDWIDE AND GLOBAL LEADERSHIP IN THE MANUFACTURE AND DISTRIBUTION OF LUXURY GOODS. A UNIQUE BLEND OF GLOBAL VISION AND DEDICA- TION TO SERVING THE NEEDS OF EVERY CUSTOMER. THE SUCCESSFUL MARRIAGE OF CULTURES GROUNDED IN TRA- DITION AND ELEGANCE WITH THE MOST ADVANCED MAR- KETING, INDUSTRIAL ORGANIZATION AND MANAGEMENT TECHNIQUES. -
Typology and Financial Performance of Champagne Makers According to Distribution Channel
International Food and Agribusiness Management Review Volume 8, Issue 4, 2005 Typology and Financial Performance of Champagne Makers According to Distribution Channel Francis Declerck aL a Associate Professor, Finance Department; and Researcher, International Agri-Food Management Institute; ESSEC Business School (ESSEC-IMIA), B.P. 50105 - 95021 Cergy-Pontoise cedex, France. Abstract A typology of strategies related to the distribution channels used by Champagne makers is established. Champagne makers’ operating profit depends on their distribution network, which affects selling prices. Based on a sample of 20 Champagne makers (“Maisons de Champagne”), economic and financial performance indicators for Champagne makers are analyzed with reference to the type of distribution channel. Keywords: Champagne, distribution channel, strategy, performance L Corresponding author: Tel: + 33-(0)1-3443-3266 Email: [email protected] © 2005 International Food and Agribusiness Management Association (IAMA). All rights reserved. 1 Declerck / International Food and Agribusiness Management Review Volume 8, Issue 4, 2005 Introduction In 1992, during the economic recession in Western Europe and North America, consumers were unwilling to pay a high price for a bottle of Champagne, but the grapes used to produce that wine had been harvested 3 years earlier and purchased at a very high price. In 1991 and 1992, only 214 million bottles were sold compared to the 149 million bottles sold in 1989. Squeezed between high costs and low retail prices, Champagne makers had to sell Champagne in supermarkets at a lower price than usual. A few years later, after the boom in 1999 that saw sales reach 327 million bottles, economic stagnation returned. Sales dropped to 269 million bottles in 2001, 288 million bottles in 2002 and 293 million bottles in 2003, as shown in tables 1 and 2.