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TFF (TFF) investor relations material
TFF Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Revenue and market environment
Consolidated revenue for Q1 2025/2026 was €89.4 million, down 26.5% year-on-year and 24.3% like-for-like.
The decline is attributed to a general market slowdown and a high comparison base from the previous year.
The group is adapting production structures and tools to address ongoing uncertainty and cautious investment in the sector.
Division performance
Wine division revenue was €52.1 million, down 9.9% (8.4% like-for-like), impacted by U.S. tariffs and currency weakness.
Alcohol division revenue was €37.3 million, down 41.5% (38.8% like-for-like), with bourbon and Scotch whisky both seeing lower volumes and prices.
Production adjustments included mothballing three stave mills and closing a cooperage line to match reduced demand.
Outlook and strategic priorities
Turnover is expected to fall by around 20% for the 2025/2026 financial year, with profitability also eroding.
The group aims to reduce inventories and debt to maintain agility for a future market recovery.
Management remains optimistic for the medium term but is focused on realistic, proactive adjustments.
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