Marie Brizard Wine & Spirits (MBWS) Trading Update summary

Revenue performance

• Full-year 2024 revenues declined 2.8% to €188.4 million, with Q4 down 4.6% to €47.6 million.

• France saw slight growth: +0.7% for the year (€83.9m) and +1.1% in Q4, aided by new premium bourbon agency brands.

• International revenues fell 5.5% to €104.5m, with Q4 down 9.0%, mainly due to lower Industrial Services activity and planned maintenance.

• Strategic International Brands sales declined, especially William Peel in Off-Trade, while On-Trade and Agency Brands performed well.

• Good performances in Africa, Middle East, and Canada offset declines in Spain, Bulgaria, and Lithuania.

Regional highlights

• Spain saw a sharp Q4 drop (–32.3%) due to postponed Industrial Services production; full-year sales down 5.0%.

• Western Europe, Middle East, and Africa export markets declined 3.8% for the year, with notable Q4 drops in UK and Benelux.

• Lithuania’s full-year sales fell 8.5%, mainly from export and Industrial Services declines.

• Bulgaria’s domestic market was solid, but Industrial Services exports dropped 20.6% for the year.

• Americas export region Q4 sales rose 11.8%, led by strong growth in Canada (+16.5% in Q4, +21.6% for the year).

Brand and market trends

• William Peel sales declined in Off-Trade, but San José and Marie Brizard gained market share in France.

• On-Trade channel in France remained resilient, supported by premium Agency Brands.

• In the US, Sobieski sales declined while Marie Brizard remained stable; Q4 saw a 22.7% drop due to shipment timing.

• Asia-Pacific saw Q4 recovery, especially in Japan and South Korea, but full-year revenues were down 13.5%.

• Brazil posted full-year growth of 8.2%, with Q4 up 11.8% despite slower local consumption.