(AOF) – Marie Brizard Wine & Spirits (MBWS) declares that its EBITDA for the first half of 2023 amounted to 8.1 million euros, an increase of 0.5 million euros (excluding currency effect) compared to in the first half of 2022. The group’s share of net income amounts to 5.1 million euros over this half-year, an improvement of 2.6 million euros compared to the first half of 2022 which includes a provision for exceptional charges linked to to the restructuring of the large distribution sales department in France.
In a context of high generalized inflation, the gross margin rate stood at 36.6% over this first half compared to 39.9% at the end of June 2022.
This drop of 3.3 points in 2023 reflects the effect of the continued strong increases since the second quarter of 2022 affecting the prices of materials and energy, the impact of which weighs on the entire first six months of 2023 despite the increases in prices charged.
MBWS’s turnover, excluding excise duties, amounted to 98.8 million euros in the first half of 2023, up 14.3% (excluding currency effect) compared to the first half of 2022. This The improvement mainly comes from the increase in sales of part of the international business, as well as the good resilience of its strategic brands in France, despite a decline in volumes.
International activity stood at 56.7 million euros, up 22.2% (at constant exchange rate) compared to 2022.
Shareholders’ equity, group share, amounts to 199.6 million euros as of June 30, 2023 compared to 194.6 million euros as of December 31, 2022 while gross financial debt remains stable at 6.4 million euros. in the first half of 2023, as well as the Group’s positive cash flow of €44.9 million as of June 30, 2023.
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Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSE-SMEs, according to Ania (National Association of Food Industries. Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases However, they are not renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercéales, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity shock absorber”, which are considered insufficient. The organizations also deplore the failure of European negotiations to achieve a price shield to avoid distortions of competition. Agriculture and agri-food demand a maximum ceiling price of €180/MWh while many companies buy at prices above €500/MWh on the French market.