Marie Brizard Wine & Spirits (MBWS) has reported a 14.3% increase in revenue to €98.8 million in the first half of its financial year.
MBWS attributed this growth to the good performance of parts of its international business and growth in sales across strategic brands, such as William Peel and San José, in France.
In France, sales increased by 12.6% year-on-year, to €22.7 million, in the second quarter due to fewer supply disruptions compared with the same period last year.
Revenues for the French business unit in the first half amounted to €42.1 million, up 5.0% year on year.
MBWS' international segment posted first-half revenue of €56.7 million, up 22.2% (at constant exchange rates) compared to the same period last year.
Sales in the second quarter of 2023 amounted to €29.6 million, up 15.5% compared to the same period in 2022.
Outlook
MBWS said it is monitoring the elasticity of consumer demand concerning price increases and their impact on certain product categories, particularly vodka and cognac.
International growth will remain a priority for the group’s development, even if the current economic climate enabled a buoyant second-quarter performance in France, it added.
It will continue to implement its development strategies, such as expanding strategic brands internationally, strengthening its regional brands’ local positioning, growing its agency brand business, and developing the industrial services offering.
The lack of visibility in the short and medium term still requires a certain degree of caution regarding the group’s annual outlook, MBWS added.
European Business
In Spain, MBWS reported 21.7% growth in sales in the second quarter, boosted by the company's strategic brands and the continued buoyancy of industrial subcontracting services.
In Western Europe export markets, second-quarter revenue increased by 11.4%, driven by the strong sales performance in BeNeLux, Italy, North Africa and, to a lesser extent, Germany.
The British market recorded new listings across the group’s brands, particularly Sobieski.
In Lithuania, revenue increased by 25.0% in the second quarter, particularly in the export brand business, due to an increase in sales to the Ukrainian market. Domestic sales were stable compared with the first half of 2022, the company added.
Bulgaria witnessed 25.2% revenue growth in the second quarter, driven by export markets and industrial subcontracting services, in particular.
Revenues in Scandinavia declined 28.2% in the second quarter from a record high in the year-ago period, which saw a sharp business recovery following the lifting of health restrictions earlier that year.
This decline was also due to price elasticity impacting sales volumes following price increases, along with the tight competitive environment at the start of this year.
In the Eastern European export markets, sales in Poland dropped in the first half of the year amid a general market slowdown across all categories.
Other Regions
The United States witnessed sales growth of 15.3% despite operational, logistical, and commercial difficulties affecting the brands’ performance.
Elsewhere, Brazil posted revenue growth, driven by local brands and the implementation of sales and pricing policies over the period.
The export market in America continued to be impacted by a decline in revenue in Canada in the second quarter.
Revenue in the Asia Pacific region fell 6.4% in the second quarter, particularly in Australia, while Korea started to recover.
