(AOF) – TFF’s 9-month turnover reached 369.5 million euros, up 11.8% and 14.5% at constant currencies and scope compared to the previous year. Over this period, the group’s wine activity recorded moderate growth: +0.8% to 166.2 million euros. The weather conditions for the 2023 harvest weighed on activity levels in Europe excluding France and in Oceania,” explains the company.
“The stainless steel barrel and container activities are supporting the activity; however, the volumes are marking time, as expected and already noted at the end of the first half, on the basis of a 2022 vintage which had been very buoyant, characterized by a return at normative quantities in the USA and France”, adds TFF.
The alcohol activity increased by 22.7% to 203.3 million euros. The Bourbon activity maintained its growth rate during the third quarter.
The Whiskey activity is achieving significant growth, fueled by price effects that are still marked in the trading of used barrels, by barrel repair activities and by the trading of new barrels.
TFF maintains its financial objectives for 2023/2024. The group is still aiming for a growth rate objective above 10%, “despite the uncertainty over the variation in exchange rates as well as the slight anticipated delay in the American campaign”.
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