It will take two years at the Société des alcools du Québec (SAQ) to fully recover financially from the COVID-19, learned The Newspaper. The management conceded that the corporation will not be able to achieve the target of the dividend set by Quebec in the last budget.
On Thursday, the president and chief executive officer of the SAQ, Catherine Dagenais, was crossing in the national capital to meet employees.
In particular, it has discussed with The Log of the next strategic plan of its organization, which will be presented over the next few weeks, the prices of products, severance benefits and impacts of the pandemic.
From the outset, Ms. Dagenais has not hidden that the last few weeks have had an impact on the finances of the corporation. Due to the closure of restaurants and bars, and in spite of the increase of the demand of the consumers, the SAQ has seen its sales “remote 1 %” since April compared to the same period in 2019-2020.
In its last budget, the provincial government hoped to receive 1.22 billion $ of the SAQ for the financial year 2020-2021. Note that Quebec has just touched $ 1.23 billion $ (+6.9 %) and for 2019-2020.
Without being able to provide a precise figure for the moment, the president confirmed that this amount will be “lower” in the forecast for this year. It ensures that the prize pool will be, however, more than a billion dollars.
“We cannot do what we had thought to do it before the COVID-19. This is going to be lower, because it will make less income. (…) The restoration, it hurts. There is tourism and there is also the judgment of events, such as the Grand Prix week. The customers will not go more in the branches, to compensate, ” responds Ms. Dagenais. “It will take two years before it is aligned on what we planned to do before the COVID-19 “, she adds.
The new growth plan of three years from the SAQ, which will be endorsed in the near future, will be focused on the customer experience, the experience used, social responsibility, and performance.
A single price increase
Despite a surplus of wines, some producers, especially in Europe, the SAQ intends to increase prices on several products in August. Thursday, however, it has not been possible to obtain the number of wines and spirits that will be affected.
The directorate justifies this increase by the increase of the excise tax, federal, unfavorable currency exchange rates and the impacts of the pandemic. She adds that the tariff of certain products should also decrease.
Unlike the past few years, the SAQ intends to make a single price increase in 2020. The increase is typically scheduled in November will be postponed to 2021, revealed the direction.
► Wine tasting
The SAQ does not intend to put a definitive end to its services, wine tasting in the branch. This offer has been put on pause due to the pandemic, just like the events aimed to enable consumers to discover new spirits. “The tasting is a favorite activity of clients. It is necessary that the tasting back. Over the next few weeks or months, we are going to look at how we can re-enter this offer “, noted the president, Catherine Dagenais.
► Impact on the points of sale
The direction of the SAQ did not intend to close point-of-sale (410) in the course of the next year because of the pandemic. “Our network is going well and he is healthy, advance the president, Catherine Dagenais. No plan of compression is contemplated. The company’s State analysis, however, new partnerships for install shops in a grocery store. In 2017, the SAQ had opened a first branch of this kind in a Metro supermarket in LaSalle. “Yes, we will have other,” noted Ms. Dagenais. Maybe he is going to be different this year “, she adds.
► Quebec products
The demand for québec products has exploded since march. Sales for wine have increased by 60 % and 80 % for spirits here. The SAQ states that the Québécois have also purchased more products of “popular” since the beginning of the pandemic. Moreover, the SAQ has recently announced to its suppliers that due to a surplus in its warehouses, he had more orders for wine specialty supply batch. There are wines offered in limited quantity, in particular in the sector of the restoration.
Finished the “transition allowances” for the bosses
The Société des alcools du Québec (SAQ) is said to have put an end to his formula of “transition allowances” for members of its management. This week, we learned that a vice president had left the organization last fall with severance pay of 488 995 $.
“The contracts of the vice-presidents were reviewed over the past few years. In fact, it was the last contract of the kind, ” replied the Newspaper, the president and chief executive officer of the SAQ, Catherine Dagenais.
During the unveiling of the financial results of the SAQ for the 2019-2020 fiscal year, one could read in the documents that the former vice-president of human resources, Madeleine Gagnon, was a party on October 2, with nearly a half-million in severance pay.
She also received a base salary of 186 532 $, as well as 56 503 $ in benefits and bonuses.
Ms. Dagenais has confirmed, Thursday, that the contract of the vice-president had not been renewed.
It should be noted that it has received $ 52,000 more than the ex-president-director-general, Alain Brunet, as ” transition allowance “.
“There will be more of a departure allowance. It was when the contract was not renewed. Here, the contracts are indeterminate. If I thank a president for any reason, it will, however, all the same, have a premium of separation “, has light to moderate Ms. Dagenais.