Annual Report 2025 - Key Financial Highlights
Annual Report 2025
Key Financial Highlights
Core Revenue
10%
Total revenue from our sales of continuing Edrington branded products on a constant currency basis.
Analysis
Core revenue fell by 10%, reflecting the reduction in consumer confidence and a more cautious approach to spending across our markets.
Brand Investment
9%
Marketing expenditure on our core brands, on a constant currency basis.
Analysis
Brand investment reduced by 9% in line with the reduction in core revenue. Our re-investment ratio remained at market leading levels at 24% of core revenue.
Core Contribution
28%
Profits from our branded sales and distribution after the deduction of overheads on a constant currency basis.
Analysis
Core contribution shows a more substantial reduction than core revenue due to product cost inflation and an increase in our operating costs.
Earnings Before Interest and Tax (EBIT)
22%
EBIT is a measure of the profit generated by the business before the impact of interest, tax, minority interest charges and items deemed to be exceptional in nature.
Analysis
EBIT fell by 22%, as the reduction in core contribution was partly offset by mature stock sales.
Free Cash Flow
43%
Net cash flow excluding the movements in borrowings, shares, dividend payments, expansionary capital expenditure and exceptional items.
Analysis
The improvement in free cash flow versus prior year reflects a reduction in cased goods stock and lower capital expenditure.
Net Debt/EBITDA
11%
The ratio of bank and private placement debt after the deduction of cash balances, to reported earnings before interest, tax, depreciation and amortisation.
Analysis
Whilst our net debt has decreased from prior year, the ratio has increased by 11% as a result of our lower EBITDA.
Earnings Per Share (pence)
23%
Profit for the financial year attributable to the owner, excluding exceptional items, divided by the weighted average number of shares.
The earnings per share decreased by 23% as a result of the lower earnings. The number of shares in issue is unchanged.
Dividend Per Share (pence)
25%
The total dividend paid per share for the financial year.
The dividend has been reduced in line with the underlying profitability of the business.