Marie Brizard Wine & Spirits (MBWS) Q2 2024 TU earnings summary

Executive summary

• H1 2024 revenue reached €94.9m, a decrease of 3.9% year-over-year, with Q2 revenue at €51.6m, down 1.1% compared to Q2 2023.

• France saw modest growth, while international markets experienced a notable decline, especially in Asia-Pacific and Eastern Europe.

• Strategic brands like William Peel, Marie Brizard, and Sobieski performed well in France, but international branded business struggled.

Financial highlights

• France H1 2024 revenue rose 1.1% to €42.5m; Q2 up 1.6% to €23.0m, driven by strategic brands and On-Trade channel.

• International H1 2024 revenue fell 7.6% to €52.4m; Q2 down 3.2% to €28.6m, with declines in key export markets.

• Spain's Q2 sales up 11.2% due to industrial subcontracting; Scandinavia Q2 up 48.3% on Agency and Strategic Brands.

• Asia-Pacific Q2 revenue dropped 46.7%, with sharp declines in Korea, Taiwan, and Australia.

Outlook and guidance

• 2024 expected to remain challenging amid global economic uncertainty and continued market contraction.

• Focus remains on strategic development, innovation, and international expansion to drive sustainable growth.

• Cost management and resilience prioritized to safeguard profitability amid inflationary pressures.