(AOF) – The consolidated turnover of TFF Group in the first quarter of 2023/2024 amounts to 125.6 million euros, up 15% at current exchange rates and 18% at current exchange rates and constant perimeter. Sales from the Wine division amounted to 60.6 million euros, an increase of 9.5% and 10.8% like-for-like. These increased sales are mainly driven by the American market, the strongest contributor during this period, with well-oriented barrel volumes.
This quarter is in line with expectations despite variations in the exchange rate effect between the euro and the dollar.
In addition, sales from its Alcohols division amounted to 65 million euros, up 20.6% and 25.3% like-for-like.
The Bourbon division actively contributes to growth with ever-expanding barrel volumes and the entry into the scope of the ninth stave mill in Ohio. Eight stave mills are currently in operation awaiting the start-up of the Pennsylvania site at the end of 2023.
The activity of the Scotch Whiskey division is also continuing its growth cycle, driven by a price effect, in a market still under pressure from the lack of used barrels.
The group has confirmed its announced objective of growth in its activity greater than 10% for the current financial year, excluding external growth.
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