TFF Group: Quarterly sales below expectations

(CercleFinance.com) - TFF Group's share price continued its downward trend on the Paris Bourse on Thursday, as investors continued to pull back on the former François Frères cooperage after its quarterly sales fell short of expectations.


At around 11:30 a.m., the share price was down almost 4%, bringing its decline over the last 12 months to over 43%.

Last night, the Group reported Q3 sales of €87 million, down 17.3% on the same period in 2023, representing a decline of 21% on an organic basis.

In a press release, TFF cites an uncertain context and the "historically low" level of the 2024 harvest, which have continued to weigh on its business levels.

By way of comparison, sales for the first half of the 2024/2025 financial year showed a more limited decline of around 10% on an organic basis.

Analysts at TP ICAP Midcap note that sales for the past quarter came in below their expectations, at €92.4 million.

The brokerage firm, which cites a "still complicated" situation, notes that business remains "deteriorated" in both of the Group's divisions.

Wine business contracted by 8.8% over nine months, while the spirits division was down 13.3%, with the slowdown in bourbon business outweighing the resilience of whisky.

TFF declares that the absence of any signs of recovery in all its markets, in an economically difficult environment, leads it to confirm its forecast of a decline in sales of over 10% for the full year.

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