Oeneo (SBT) H2 25/26 earnings summary

Executive summary

• Turnover for 2025-2026 was €275.5 million, down 9.7% year-over-year, reflecting a challenging environment for the wine and spirits industry with low production and declining global consumption.

• Recurring operating margin remained solid at 13.7%, supported by strong performance in the Closures division.

• Free cash flow increased to €46.4 million, strengthening the financial position and enabling continued investment in production and environmental initiatives.

Financial highlights

• Turnover declined 9.7% to €275.5 million compared to the previous year.

• Recurring operating profit fell 16.9% to €37.8 million; operating profit was €39.6 million, down 8.9%.

• Net profit, Group share, was €26.8 million, a 9.9% decrease year-over-year, with a net margin of 9.8%.

• Cash flow from operations rose to €66.6 million, with free cash flow at €46.4 million, up from €38.0 million.

• Dividend of €0.35 per share proposed, unchanged from the prior year.

Outlook and guidance

• The environment remains uncertain with no notable changes expected in the near term.

• Focus remains on cost optimization, innovation, and disciplined financial management.

• The Closures division aims to consolidate market share and maintain high profitability, while Winemaking targets a return to positive profitability through streamlining.