And there was — if you use EBITDA. Marie Brizard Wine & Spirits reports EBITDA of $12.85 millionfor fiscal 2020, reversing the 2019 EBITDA loss of $4.24 million. But when you apply conventional accounting rules, the French producer significantly narrowed its loss from continuing operations to $6.67 million from a loss of $36.62 million. It also narrowed its accounting loss to $46/57 million from a loss of $65.9 million a year earlier.
Andrew Highcock, CEO, said that with a strengthened financial structure, the Group will “pursue the alignment of its costs to the size of the business on a country-by-country basis, as a key to the sustainable consolidation of its profitability. Focused on leading brands or brands with a growing
reputation, MBWS is committed to addressing new consumer trends, seeking more naturalness and less alcoholic products.
“The pandemic has also led to the emergence of home consumption of cocktails, a trend that is likely to continue. After these encouraging results in 2020, the Group remains cautious for 2021 as the economic impact of the pandemic persists at the beginning of the year in many of its markets.”
But MBWS’s first quarter sales, also released yesterday, show organic sales growth fell 6.9%. That’s largely because sales outside France plunged 17.1%.