Marie Brizard Wine & Spirits : 2022 results shy of our forecasts. A cautious message on the outlook
>2022 EBITA down 7.5% to € 11.8m - Yesterday evening MWBS reported earnings that fell short of our estimates. Based on sales of € 181.4m (+8.8%, of which 7.8% organic) EBITDA was € 11.8m (vs € 13.3m est.) down 7.5% vs 2021 which benefited from an exceptional credit note of € 3.1m. Adjusted for this effect, growth would have been 19%. The EBITDA margin was down 100bp to 6.5% reflecting a 200bp deterioration in the gross margin to 39.1% linked to cost inflation (raw m...Marie Brizard Wine & Spirits is a wine and spirit company which is engaged in the production and distribution of wines and spirits mainly in Europe and in the U.S.A. Co.'s products can be divided into three categories: Vodka and Spirits, Wines, and Other beverages. Co. develops a portfolio of spirit brand with in particular: Youri Dolgorouki; Sobieski; Marie Brizard; Old Lady's; Berger; “PL Polonaise”; Starogardzka; Balsam Pomorski; Krakowska; Zawisza. Co. operates geographically in Poland, Western Europe, Lithuania, Bulgaria, and Other countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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