Habanos reports US$545 million in 2022 sales as market recovers

[El Presidente]

Habanos reports US$545 million in 2022 sales as market recovers

by Dermot [email protected]: ©The Moodie Davitt Report27 February 2023

 

Celebrating a solid year in 2022 at the Habano Festival this week were (left to right) Habanos Commercial Vice President Jorge Pérez Martel, Co-Presidents Luis Sánchez-Harguindey Pardo de Vera and Maritza Carrillo González and Vice President José María López Inchaurbe

 

Leading Cuban cigar manufacturer Habanos has announced a +2% rise in sales year-on-year in 2022, to US$545 million. The announcement was made to coincide with the 23rd Habano Festival in Cuba.

Habanos Co-Presidents Maritza Carrillo González and Luis Sánchez-Harguindey Pardo de Vera said: “These results reflect the perfect combination of the passion we all feel in this wonderful Habano business and the strength of our brands. They put the cherry on top of the unique tobacco that grows in this land and that offers unparalleled moments and experiences to aficionados from all over the world.”

Celebrating a solid year in 2022 at the Habano Festival this week were (left to right) Habanos Commercial Vice President Jorge Pérez Martel, Co-Presidents Luis Sánchez-Harguindey Pardo de Vera and Maritza Carrillo González and Vice President José María López Inchaurbe

The company’s business was boosted by the expansion of points of sale last year to 4,769 worldwide, up by +10% on a year earlier. These include 17 Cohiba Atmosphere locations, 157 La Casa del Habano franchises across 18,689sq m; 587 Habanos Terrace and Habanos Lounges; 1,264 Habanos specialist stores in addition to 2,744 other Habanos sales points.

New additions launched at the Habano Festival include (from top) Montecristo Open Slam vitola, Partagás Línea Maestra and Bolívar New Gold Medal vitola

The company manufactures and distributes its 27 premium cigar brands across 140 countries. By volume, the markets that generated the highest sales last year were Spain, France, Germany, China and Switzerland.

By region, Europe remains Habanos’ number one market, with 53.7% of sales value, followed by Asia Pacific (19.3%), the Americas (15.3%) and Africa and the Middle East (11.7%).

Key launches last year included Montecristo Wide Edmundo, Quai D’Orsay No. 52 and La Gloria Cubana Glorias, as well as Quai D’Orsay Imperiales, which was a key line introduced to the duty free market.

During a press conference at the Habanos Festival, details of the new lines Habanos is introducing were also revealed. A major launch to start the Festival week is the new Montecristo Open Slam vitola. With this addition, the Línea Open is expanded with a fresh design on cases and bands.

The launch of the Bolívar New Gold Medal vitola will also take place as a product exclusively made for La Casa del Habano stores.

Partagás Línea Maestra will also be presented to the market; its three vitolas, Origen, Rito and Maestro, are made with tobacco only from the San Luis plantations.

The Habano Festival programme offers five full days of activity around Habano culture and gastronomy. 

[Chas.Alpha]

Oh look. A new Monte Open line…🤔

[SCgarman]

17 minutes ago, Chas.Alpha said:

Oh look. A new Monte Open line…🤔

Discontinue really good cigars people love and give them more worthless rubbish. 

[SingleBarrel]

The Bolivars, I’m excited!

[grabow32]

That $545 Million could get you probably 20 boxes of BHK52's in next years prices... 

[benfica_77]

Why do I feel those Sales figures are cooked numbers....I should hire Habanos S.A's accountants lol 

[El Presidente]

13 minutes ago, benfica_77 said:

Why do I feel those Sales figures are cooked numbers....I should hire Habanos S.A's accountants lol 

...no...you want  Artie   accountant .....to go in the other direction 

[benfica_77]

10 minutes ago, El Presidente said:

...no...you want  Artie   accountant .....to go in the other direction 

haha I'll use Ayala Accountants  Your Canadian cousins! Trained by Artie of course! 

[SmokyFontaine]

We gripe about pricing, we gripe about quality control, but they will just keep selling everything they make. Literally zero reason for prices to ever drop back down. 

[PuroDiario]

2% yoy adding new locations and crazy price increases = organic growth down unless something missing, same stores sales on a unit level down, and with labor costs and logistical costs up…profits down too, though most of these profits are in strong currencies and their cost base is mostly local and not much care for the locals. And that’s the evil, even when performance is subpar on the public disclosure they still keep it coming steadily. 

[Salomones]

There is a new Gloria Cubana Turquinos as well.

[Capt. Corona]

If Europe is responsible for over 50% of the sales, where are all of these cigars?  A quick look at European retailers web inventory shows they have very limited supply.

Something wrong!  Someone is withholding facts I believe. 🤔 

[NSXCIGAR]

Bull crap. I believe zero numbers out of these clowns since Imperial sold out. You think any information coming out of a Cuban-Chinese outfit is serious? Those two countries are the the undisputed kings of cooking the books since the USSR folded (although N. Korea may be worse--I'll give you that.) 

Even if the revenue is $545M that's a 20% decline since 2021 with inflation. The real revenue could easily be something like $300M. We'll never know. They're probably angling to get more Chinese suckers to "invest."

[NSXCIGAR]

On 2/28/2023 at 6:59 PM, Salomones said:

There is a new Gloria Cubana Turquinos as well.

And RA 3, and Wide Edmundo which will be a hit. The RA 3 I just had tonight. Won't be super popular. Kind of like a fuller RAS. The WE and Turquinos will be huge hits. The RG CdL also won't be a massive hit. 

On 2/28/2023 at 10:03 AM, Chas.Alpha said:

Oh look. A new Monte Open line…🤔

Just a new model the Slam. So we got a 2-pack handed out last night and I'm thinking how do I get rid of these things. And then I go to a party for the Comodoro tonight and everyone's raving about them! Better than the Eagle they say. So I guess I'll have to try them. 

On 2/28/2023 at 10:30 AM, SingleBarrel said:

The Bolivars, I’m excited!

Start saving up. They don't look cheap:

[Fugu]

What’s about that spacer in that Boli box, above the head end of the sticks, any insight @NSXCIGAR? Just a sham-packaging or does it hold any function I wonder?

[JohnS]

How about using undressed Partagas Lusitanias 10-count boxes, add Bolivar dressing and a spacer and all those unused boxes usually reserved for the Double Coronas-sized Lusitanias now get recycled? I don't know. it's just a theory but the boxes seem about the correct size for a 10-count Partagas Lusitanias.

[NSXCIGAR]

1 hour ago, Fugu said:

What’s about that spacer in that Boli box, above the head end of the sticks, any insight

Yeah, people were wondering what the hell that is. Looked to me like a decorative spacer of some sort. The box looked absolutely massive and so did the cigars despite them being essentially a Hermosos No. 1. They looked like double coronas so I guess mission accomplished. 

[Fugu]

6 hours ago, JohnS said:

How about using undressed Partagas Lusitanias 10-count boxes, add Bolivar dressing and a spacer and all those unused boxes usually reserved for the Double Coronas-sized Lusitanias now get recycled? I don't know. it's just a theory but the boxes seem about the correct size for a 10-count Partagas Lusitanias.

Something along those lines doesn’t appear too far off the mark, indeed... 😄

[NSXCIGAR]

7 hours ago, JohnS said:

I don't know. it's just a theory but the boxes seem about the correct size for a 10-count Partagas Lusitanias.

Probably could have made that work. A 48 RG with the dividers might fill the Lusi 49. And the gold spacer block could have been 29mm instead of closer to 40. 

Apparently there's no extra effort in making SPBs of different sizes. I suppose labor's free down there after all! Personally I would have preferred at least a special box like the Punch 48 or SC Prado for them. These are so far removed from the original BGM at this point why feel obligated to use a historically accurate SPB? The only BGM 90% of people know is the 04/07 release anyway. Not that many people have a copy of MRN. 

Personally I think this would have worked well as one of the lacquered box LCDH releases which I assumed this was going to be until the details were confirmed a few months ago. 

[KnightsAnole]

Fake it till you make it. Good luck with that.

[ha_banos]

1 hour ago, KnightsAnole said:

Fake it till you make it. Good luck with that.

Can hear the daily morning affirmations...

[Cairo]

6 hours ago, KnightsAnole said:

Fake it till you make it.

Yup.  These folks really need body language coaches.   Their fake smiles look like prisoners cleaned up and dressed up after interrogation.

[helix]

1 hour ago, Cairo said:

Yup.  These folks really need body language coaches.   Their fake smiles look like prisoners cleaned up and dressed up after interrogation.

Smug Commie thieves . 

[Corylax18]

On 3/1/2023 at 8:21 AM, therealrsr said:

Habanos Commercial Vice President Jorge Pérez Martel.  This sounds like an important position but his suit pants scream otherwise.😂

Haha. At least his older brother was nice enough to let him borrow them!