Charenton-le-Pont, 29 October 2026
Q3 2026 revenues
Sales rose slightly by +0.3% (+1.8% as reported) vs. Q3 2025, with contrasting trends: France Cluster posted a +13.3% increase in revenues for the quarter, whilst the International Cluster recorded a fall of 7.1% (-4.8% as reported), against an unstable international backdrop.
Nine-month 2026 revenues down by -2.9%¹ at €125.6m vs. 2025 (-1.5% as reported).
- France: sales up 13.3% in Q3 2026 and 4.8% over nine months, driven by the recovery in the Off-Trade sector and the strong performance of innovations.
- William Peel sales are recovering as expected after being hit in 2025 by certain Off-Trade distributors delisting the brand, but the recovery is proceeding at a significantly slower pace than anticipated;
- Marie Brizard and Sobieski posted sales growth driven by innovations;
- On-Trade business was down 2.8% in Q3, mainly due to inventory normalisation following the summer.
- International: sales down 7.1% in Q3 2026 (-4.8% as reported) and 7.9% over nine months (-5.5% as reported), with contrasting trends across regions:
- Strong performance in Spain, particularly driven by Industrial Services;
- Slowdown in Export business in Western Europe and Canada;
- Sales declined in Lithuania and Bulgaria, reflecting Export activity, particularly to Ukraine and Romania, despite resilient domestic markets;
- Revenues declined in the United States, mainly due to Sobieski and inventory rundown by the importer, despite a slight increase in sales of Marie Brizard and Gautier.
Marie Brizard Wine & Spirits (the “Company”) (Euronext: MBWS) today announces its unaudited revenues for the period from 1 January to 30 September 2026.
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NB: All revenue growth figures reported herein are at constant exchange rates and consolidation scope (like for like), unless stated otherwise. Reported data incorporates currency effects and changes in consolidation scope
Nine-month 2026 revenues
| €m | 9M 2025 | LFL change | Currency and scope effects | 9M 2026 | LFL change | Reported change |
| France | 50.0 | +2.4 | - | 52.3 | +4.8% | +4.8% |
| International | 77.5 | -6.1 | +1.8 | 73.3 | -7.9% | -5.5% |
| TOTAL MBWS GROUP | 127.5 | -3.7 | +1.8 | 125.6 | -2.9% | -1.5% |
Q3 2026 revenues
| €m | Q3 2025 | LFL change | Currency and scope effects | Q3 2026 | LFL change | Reported change |
| France | 14.8 | +2.0 | - | 16.8 | +13.3% | +13.3% |
| International | 26.1 | -1.9 | +0.6 | 24.8 | -7.1% | -4.8% |
| TOTAL MBWS GROUP | 40.9 | +0.1 | +0.6 | 41.6 | +0.3% | +1.8% |
France Cluster
Against a backdrop of a persistent slowdown in the spirits market, France Cluster revenues amounted to €52.3m for the nine months ended 30 September 2026, up 4.8% versus 2025, which included the negative sales impact of the de-listing of William Peel by certain Off-Trade distributors. This improvement was particularly evident in Q3 2026, albeit later than anticipated, with sales up 13.3% to €16.8m compared with Q3 2025, which was fully impacted by the William Peel de-listings. This improvement was also driven by the strong performance of Marie Brizard and Sobieski innovations.
Despite a 2.8% decline in Q3, On-Trade sales were up 6.8% over nine months, notably driven by the latest Marie Brizard innovations and contributions from new Agency Brands.
International Cluster
The International Cluster posted revenues of €73.3m for the first nine months of 2026, down 7.9% versus the first nine months of 2025 (down 5.5% as reported).
Q3 2026 sales were down 7.1% (down 4.8% as reported), continuing the trend seen in the first half of 2026, which was impacted by a challenging international operating environment.
MBWS International (Export) revenues were down 12.7% in Q3 2026, confirming the sales decline already recorded in the first half, with lower sales in growth European markets including the United Kingdom, Belux, Germany, Poland and Italy, as well as in Asia-Pacific (Taiwan and Korea).
Spain posted sales growth of 23.3% in Q3 2026, driven by Industrial Services, which rose 23.1% following the increase already recorded in Q2 2026. This growth does offset the slight decline in International Strategic Brand sales.
In Denmark, Q3 2026 confirmed the downward sales trend recorded in the first half year, with sales down 13.5% (+77.9% as reported, including the scope effect), despite the resilience of the strategic Marie Brizard brand and certain local brands.
Lithuania posted a 14.5% decline in Q3 2026 revenues, mainly due to Export activity, particularly to Ukraine. Domestic market business increased 8.7% in Q3 2026, continuing the first-half trend, which benefited from renewed competitiveness generated by more sustained promotional activity and market share gains.
In Bulgaria Q3 2026 sales declined 23.5%, impacted by Export activity, mainly Industrial Services, and to a lesser extent by Branded activity in the domestic market, across both wine and spirits categories.
In the United States, revenues fell sharply by 44.5% in Q3 2026 and were down 0.8% over nine months. Sobieski shipments declined significantly in Q3 as the importer continued its inventory rundown. Sales growth for Marie Brizard and Gautier continued, but was insufficient to reverse this negative trend.
In Brazil, Q3 2026 sales rose 21.0%, mainly driven by a recovery in local brand activity and the gradual ramp-up of Industrial Services under a new contract. However, this was insufficient to offset the first-half decline, with revenues down 4.4% over the first nine months of 2026.
Outlook
Spirits markets continue to struggle against volatile macroeconomic and geopolitical headwinds in the second half of 2026, requiring considerable operational agility and commercial responsiveness. In particular, the Group remains exposed to the impacts of the ongoing conflicts in the Middle East and Ukraine, which are driving up the cost of inputs and transport (maritime and land logistics, energy, raw materials, etc.) and disrupting supply chains (longer lead times, delays in order collection, declining sales, etc…).
Against this backdrop, the Group expects the prevailing uncertainty and contrasting trends to continue for the rest of the year, characterised by:
• In France, continued positive momentum, mainly driven by the gradual but slow recovery in William Peel distribution in the Off-Trade sector and the resulting claw-back of market share, innovations for the Marie Brizard and Sobieski Strategic Brands, portfolio expansion with new Agency Brands and the contribution from new Industrial Services contracts;
• Internationally, an expected decline in Eastern Europe, impacted by external factors affecting certain subsidiaries, particularly the challenges faced by Group customers in Ukraine due to the conflict, as well as other
customers in Central Europe. Performance will also reflect the effects of initiatives launched this year in certain subsidiaries, including Brazil and Denmark, with the aim to pave the way for future growth.
To address this environment, the Group is building on tangible progress across all its strategic development priorities: targeted innovations for International Strategic Brands and Flagship Regional Brands, the expansion of the Agency Brands portfolio via new contracts in France, the integration of a distributor in Denmark and the development of new Industrial Services partnerships in France and Brazil.
The Group maintains a profitable and sustainable approach to developing its business portfolio in product categories offering the most attractive growth prospects in France and internationally, and is strengthening its presence in key markets by leveraging its subsidiaries, commercial networks and direct exports. It is also actively pursuing the identification of suitable and profitable growth opportunities, both organic and external, rigorously and selectively, with a view to long-term development. The Group is thereby demonstrating its ability to gain market share on its mainstream brands by combining targeted initiatives, agile commercial execution and rigorous cost management.
Financial calendar
- Publication of Q4 and full-year 2026 revenues: 18 February 2027
| Investor and shareholder relations contact MBWS Group Emilie Drexler relations.actionnaires@mbws.com Tel.: +33 1 43 91 62 40 | Press contact Image Sept Clémence Vermersch - Laurent Poinsot cvermersch@image7.fr– lpoinsot@image7.fr Tel.: +33 1 53 70 74 70 |
About Marie Brizard Wine & Spirits
Marie Brizard Wine & Spirits is a wine and spirits group operating in Europe and the United States. Marie Brizard Wine & Spirits stands out for its expertise, a combination of brands with a long tradition and a resolutely innovative spirit. Since the birth of the Maison Marie Brizard in 1755, the Marie Brizard Wine & Spirits Group has developed its brands in a spirit of modernity while respecting their origins. Marie Brizard Wine & Spirits is committed to offering its customers bold and trusted brands full of flavour and experiences. The Group now has a rich portfolio of leading brands in their market segments, including William Peel, Sobieski, Marie Brizard, Cognac Gautier and San José.
Marie Brizard Wine & Spirits is listed on Compartment B of Euronext Paris (FR0000060873 - MBWS) and is part of the EnterNext© PEA-PME 150 index.
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