Oeneo (SBT) Q4 25/26 TU earnings summary

Executive summary

• Annual turnover for 2025-2026 reached €275.5 million, a 9.3% decrease at constant exchange rates year-over-year.

• The business environment was challenging due to a third consecutive year of low harvest volumes and a global slowdown in wine consumption.

• Effective cost control measures helped limit the impact on profitability, with recurring operating margin expected slightly above 13%, down nearly 2 percentage points from the prior year.

• The outlook remains cautious due to ongoing international crises, with a focus on productivity, cash-flow management, and innovation.

Financial highlights

• Fourth quarter turnover was €73.8 million, down 11.0% at constant exchange rates compared to the same quarter last year.

• Full-year turnover for Closures was €210.7 million, down 5.3% at constant exchange rates; Winemaking was €64.8 million, down 20.2%.

• Recurring operating margin for the group is expected to remain slightly above 13%.

Outlook and guidance

• The company is preparing for continued uncertainty at the start of 2026-2027, emphasizing productivity, cash-flow management, and innovation to capitalize on any market recovery.