(AOF) – The Tonnellerie François Frères (TFF) group generated net income for 2022/2023 of 54 million euros, up 49%. EBITDA is 93 million euros (ie 21.1% of turnover) which has increased by 86%. Over this period, its turnover amounted to 440 million euros, up 45%. The overall growth of 45.3% and 35% at constant data is well distributed, with the Alcohols and Wine divisions now representing respectively 52% and 48% of consolidated turnover.
The Group’s balance sheet structure continued to strengthen with shareholders’ equity of 462 million euros (vs. 426 million euros) and net debt of 184 million euros (vs. 137 million euros, including the continuation of investments in the Bourbon market, in particular the establishment of new stave milling sites and the strengthening of inventory levels (346 million euros vs. 277 million euros).
TFF has set itself a new business growth target of around +10% for the 2023/2024 financial year, combined with operating profitability ratios which should remain at high levels and gradually return to pre-pandemic levels .
The group will propose to the next General Meeting to maintain a dividend of 0.40 euro per share, supplemented by an exceptional dividend of 0.20 euro.
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German autonomy not so simple
China has been Germany’s leading economic partner for six years. However, across the Rhine, companies are called upon to reduce their heavy dependence on the Asian giant due to a rise in geopolitical tensions with the country. In this context, the powerful VDMA points out the importance of the Chinese market and the danger that a too sudden termination of ties with China would represent. The country is, in fact, the second export market and the first investment destination for German mechanical and industrial engineering. The federation nevertheless recognizes the need to diversify the trading partners of the German economy.