Luzhou old cellar is very good, only blame Fen wine is too fierce!
Text | Selling the drunkard team
| Yu Xiaomei
A few days ago, Luzhou Laojiao and Shanxi Fenjiu have successively released the "Performance Report for the First Three Quarters of 2021".
Although Luzhou Laojiao's performance is gratifying and profitable, it is still "grabbed" by Shanxi Fenjiu, whose revenue is about to exceed 20 billion, and regrets to stop at the fifth place.
According to the financial report, luzhou laojiao achieved operating income of 14.11 billion yuan from January to September 2021, an increase of 21.65% year-on-year; net profit attributable to shareholders of the parent company was 6.276 billion yuan, an increase of 30.32% year-on-year.
Among them, the operating income in the third quarter was 4.793 billion yuan, an increase of 20.89% year-on-year, and the net profit was 2.049 billion yuan, an increase of 28.48% year-on-year.
First of all, the off-season is not weak, highlighting the strong brand hard power of Luzhou Old Cellar!
As we all know, the third quarter is the off-season for liquor sales, however, Luzhou Old Cellar can maintain a high growth rate of more than 20% in revenue and net profit, which is comparable to the growth rate of the first and second quarters of this year, which is very rare.
Secondly, under the brand assignment, the gross profit of Luzhou Old Cellar is as high as 86%!
The data shows that the overall gross profit margin of Luzhou Old Cellar is as high as 86%. This is enough to prove that the high-end liquor products represented by the national cellar 1573 have performed well, and at the same time, the product structure of the old cellar in Luzhou is still improving, which is in perfect line with the current market development trend of "reducing the amount and increasing the price".
The "good" of Luzhou old cellar is affirmed by industry insiders, but unfortunately, when encountering 20 billion Shanxi Fenjiu, Luzhou old cellar is somewhat dwarfed.
It should be noted that although the net profit of Luzhou Laojiao is 86% better than the net profit of Shanxi Fenjiu in terms of 75%.
However, from the perspective of the scale and growth rate of revenue, whether it is the first three quarters or the third quarter, Shanxi Fenjiu has surpassed luzhou old cellar.
More importantly, Luzhou Laojiao is already in the stage of national branding, while Shanxi Fenjiu is a regional strong brand, so that the revenue scale and growth rate have been ahead of Luzhou Laojiao.
According to some insiders, the progress space of Shanxi Fenjiu is "larger" than that of Luzhou Old Cellar, and the difficulty of progress is "smaller" than that of Luzhou Old Cellar.
It is reported that from January to September, Shanxi Fenjiu achieved revenue of 17.257 billion yuan, a year-on-year increase of 66.24%; achieved a net profit of 4.879 billion yuan, a year-on-year increase of 95.13%, a continuous blowout growth.
At the same time, Shanxi Fenjiu achieved revenue of 5.138 billion yuan in the third quarter, an increase of 47.81% year-on-year; and net profit of 1.335 billion yuan, an increase of 53.24% year-on-year.
It is also worth mentioning that during the reporting period, Shanxi Fenjiu deepened the "1357+10" market layout, increased the market expansion south of the Yangtze River, and promoted the steady breakthrough of jiangsu, Zhejiang, Shanghai, Anhui, Guangdong and other markets.
In terms of regional distribution of income, in the first three quarters of this year, the market outside the province accounted for about 60%, compared with about 54% in the same period last year.
In terms of the number of distributors, from the beginning of the year to the end of the reporting period, the number of distributors in Shanxi Fenjiu Province increased by 87 to 732, and the number of distributors outside the province increased by 443 to 2694.
Industry experts said that the growth of Shanxi Fenjiu's performance is due to its nationwide channel layout, and at the same time, it also benefits from the introduction of high-end products, including Qinghuafen liquor.
Specifically, Fenjiu's Qinghuafen series products have achieved good results, and at the same time, Shanxi Fenjiu's development of the market south of the Yangtze River has been more successful, which has promoted the smooth progress of the company's nationalization strategy, further increased the company's scale and improved profitability.
The data shows that among the three series of products of Shanxi Fenjiu, the Fenjiu series is still its core and occupies an absolute leading role.
In the first three quarters of this year, the Fenjiu series achieved sales of 15.765 billion yuan, the series of liquor sales of 489 million yuan, and the sales of prepared wines including Zhuyeqing reached 871 million yuan.
Several industry insiders interviewed agreed that Shanxi Fenjiu, which has achieved revenue of 17.257 billion yuan in the first three quarters of this year, will definitely exceed 20 billion yuan in the next fourth quarter.
On the other hand, Luzhou Laojiao, its possibility of achieving 20 billion yuan in revenue this year is much smaller.
In this regard, industry experts said that in terms of current data comparison and development trends, Shanxi Fenjiu suppressed the old cellar in Luzhou, but the market changes are rapid, and it is difficult to predict what will happen next.
Therefore, even if the old cellar in Luzhou this year is blocked by Shanxi Fenjiu on the way forward, next year and the year after that, it is possible to achieve "hair suppression", everyone waits for the result, do not and should not hastily make any conclusions.