Marie Brizard Wine & Spirits: First half 2025 revenues

Core Insights - The company reported a significant decline in revenues for the first half of 2025, with total revenues of €86.6 million, down 8.5% compared to the same period in 2024 [1][5][6] - The decline was particularly pronounced in the French market, where revenues fell by 17.4%, while international revenues saw a more moderate decrease of 1.3% [6][11] Revenue Breakdown - In France, revenues for H1 2025 were €35.1 million, down from €42.5 million in H1 2024, reflecting a 17.4% decline [5][8] - International revenues totaled €51.4 million in H1 2025, down from €52.4 million in H1 2024, marking a 1.3% decrease [5][11] - Q2 2025 revenues were €44.4 million, down 13.7% from €51.6 million in Q2 2024 [1][7] Market Performance - The spirits market in France continues to decline, with Q2 2025 sales down 23.8% compared to Q2 2024, largely due to distribution losses for the William Peel brand [6][8] - The On-Trade sector showed positive growth, with sales up 12.6% in H1 2025, indicating a divergence in performance between On-Trade and Off-Trade channels [6][10] - Internationally, the United States experienced a sharp revenue decline of 57.5% in Q2 2025, primarily due to inventory reductions by the importer [19][20] Strategic Responses - The company is implementing price adjustments to counteract rising costs of matured spirits and is focusing on maintaining constructive dialogue with Off-Trade chains to recover market positions [23][24] - Efforts are being made to diversify offerings through the development of Industrial Services and Agency Brands, which are showing growth potential [25][26] Outlook - The company anticipates continued challenges in the international wine and spirits market, with uncertainties regarding trade negotiations and potential increases in customs duties impacting profitability [22][26]