TFF improves its profitability in the first half of 2022/2023 and raises its revenue target – 01/04/2023 at 18:18


(AOF) – The Tonnellerie François Frères group announces that its net income is up 149% in the first half, to 38.7 million euros, representing a net margin of 16.7%. Current Operating Income rose by 127% to 44.6 million euros with business volumes and price indexation that made it possible to fully understand the inflationary effects on raw materials and logistics costs. The Operating Result stands at 44.3 million euros after absorption of net non-current charges of 220,000 euros.

Its operating margin increased by more than 6 points over the half-year to 19.1%. TFF explains that the dynamics of the activities and the price increases have enabled the group to approach its normative profitability levels in the Wine division.

The Bourbon division confirmed the expected improvement in its profitability with higher business volumes, selling prices indexed to costs and better saturation of production tools.

The Whiskey division posted a very good first half thanks to the rise in prices and the good market trend.

The better-than-expected level of the euro/dollar parity and the good visibility on the group’s markets for this second half lead it to raise its annual turnover target to a level of 390 million euros. He was previously targeting revenues above 360 ​​million euros.

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