TFF Group (TFF) H2 23/24 earnings summary

Executive summary

• Revenue reached €486.5 million, up 10.6% year-over-year, marking an all-time high.

• Net income increased 7.5% to €58.4 million, reflecting strong operational performance.

• Growth driven by the alcohol division, now 57% of business mix, with bourbon activities as a key contributor.

• Wine division remained stable despite global harvest declines and market uncertainty.

Financial highlights

• EBITDA rose 15.6% to €107.5 million; current operating income up 16% to €91.8 million.

• Net profit group share at €56.45 million, up 6.9% year-over-year.

• Shareholders' equity increased to €511 million; net debt at €266 million, with cash at €92 million.

Outlook and guidance

• Revenue target for 2024/2025 set at around €500 million, with expectations of solid profitability.

• Cautious confidence expressed despite economic, geopolitical, and monetary uncertainties.

• Dividend of €0.60 per share proposed for the next AGM.