Marie Brizard Wine & Spirits: Q1 2025 revenues

Core Insights - Marie Brizard Wine & Spirits (MBWS) reported first quarter revenues of €42.2 million, a decrease of 2.3% compared to Q1 2024, primarily due to a significant drop in sales in France amidst a declining spirits market [2][3][5] Revenue Breakdown - France Sales: Revenues in France fell sharply by 9.9% to €17.6 million, attributed to challenging negotiations in the Off-Trade channel and a slowdown in the spirits market, leading to loss of distribution and market share for key brands like William Peel [6][9] - International Sales: International revenues increased by 3.8% to €24.6 million, with strong performances in Spain, Lithuania, and Bulgaria, although the U.S. and Scandinavian markets faced significant declines [10][14][15] Performance by Region - Spain: Notable growth of 33.8% in Q1 2025, driven by Industrial Services, recovering from a weak Q1 2024 due to production stoppages [10] - Lithuania: Sales dipped by 2.7%, despite a strong 52.4% growth in Industrial Services, impacted by increased excise duties and competitive pressure [12] - Bulgaria: Revenues rose by 7.8%, supported by stockpiling in anticipation of price hikes and an improved product mix [14] - United States: Revenues plummeted by 51.3% due to order delays and reduced inventory levels amid tariff uncertainties [15] Strategic Insights - The company is navigating a year of transition marked by complex commercial negotiations to offset rising costs of matured spirits, particularly Scotch whisky and cognac [17] - The Group is focusing on productivity and cost control measures to support economic performance amidst a challenging market environment [19][21]