Marie Brizard Wine & Spirits

Q1 2024 revenues

                                                                                      Charenton-le-Pont, 25 April 2024

Q1 2024 revenues

Revenues of €43.3m, down 6.9% versus Q1 2023

Sales hold up well in France in a still declining market

International sales fall, with geographical disparities, as a number of customers cut inventories

• In France, sales rose slightly by 0.5% at end-March 2024 versus 2023, despite a shrinking spirits market
  • volume sales in the Off-Trade were down, largely because reduced promotional intensity in Q1 2024 than in Q1 2023. But the Marie Brizard brand enjoyed a bump in sales thanks to new product listings;
  • On-Trade Sales rose 7.9% in Q1 2024, up from an already strong basis for comparison in Q1 2023.
    
    
• International sales fell 12.3% during the quarter versus Q1 2023, with contrasting operating performances by region:
  
  
  • a decline in sales at European subsidiaries, particularly Lithuania, Bulgaria and Spain, as a number of customers ran down their inventories and the Industrial Services segment contracted, including the bulk market. William Peel, however, posted a strong quarter with growing revenues;
    • first quarter of recovery in the United States, with Sobieski doing better following a dismal Q1 2023, and growing revenues in Brazil as 2023 price rises fed through;
    • declining export markets, particularly in Asia Pacific, with significant decreases in Australia, Korea and Europe, where strong growth in Benelux, Italy and Germany were unable to offset declining sales in Poland.

NB: All figures for changes in revenues reported herein are at constant exchange rates and consolidation scope, unless otherwise stated.