Marie Brizard Wine & Spirits (MBWS) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenues increased 1.3% year-over-year, driven by strong international sales, but nine-month revenues declined 2.2% to €140.8m.

• France saw a slight 0.6% decline in Q3 sales, with On-Trade up 29.6%, while International sales grew 2.8% in Q3 but fell 4.3% over nine months.

Financial highlights

• Q3 2024 group revenues: €45.9m, up 1.3% year-over-year; France: €19.3m (-0.6%), International: €26.5m (+2.8%).

• Nine-month 2024 group revenues: €140.8m, down 2.2% year-over-year; France: €61.9m (+0.6%), International: €78.9m (-4.3%).

Outlook and guidance

• Group maintains 2024 objectives to improve margins, but expects 2025 to be impacted by inflation on ageing spirits costs, especially Scotch Whisky and Cognac.

• Ongoing focus on adapting to market volatility, price elasticity, and innovation to sustain profitable growth.