Corby Spirit and Wine Limited reports strong Q4 and full-year fiscal 2025 results, and announces dividend of $0.23 per share.

Executive Summary

• Corby Spirit and Wine Limited reported strong financial results for the fourth quarter and full fiscal year 2025, ending June 30, 2025, driven by sales execution excellence and expansion in the Ready-to-Drink (RTD) segment.
• The company declared a quarterly dividend of $0.23 per share, consistent with the previous payment, payable on September 26, 2025.
• Full-year revenue reached $246.8 million (up 7% reported, 2% organic), while Adjusted EBITDA grew 7% to $64.0 million, supported by robust cash flow generation of $44.8 million.

Key Details

• Q4 FY25 Financials:
  • Revenue: $72.0 million (+8% reported, +6% organic).
  • Adjusted EBITDA: $15.6 million (+18% year-over-year).
  • Adjusted Net Earnings: $7.5 million (+37% year-over-year).
  • Reported Net Earnings: $6.2 million (+30% year-over-year).
• Full-Year FY25 Financials:
  • Revenue: $246.8 million (+7% reported, +2% organic).
  • Adjusted EBITDA: $64.0 million (+7% year-over-year).
  • Adjusted Net Earnings: $30.6 million (+7% year-over-year).
  • Reported Net Earnings: $27.4 million (+15% year-over-year).
  • Cash Flow from Operating Activities: $44.8 million (+42% year-over-year).
• Revenue Breakdown (FY25):
  • Domestic Case Goods: $184.1 million (+1% organic).
  • Commissions Sales: $30.6 million (+15% organic), led by imported RTDs and wines.
  • Export Revenue: $14.9 million (-12% year-over-year).
• Balance Sheet & Capital Allocation:
  • Net Debt / Adjusted EBITDA ratio: 1.4x at fiscal year-end.
  • Dividend Payout Ratio: 57% for the full year.
  • Total Debt: $110.6 million (down from $140.8 million in FY24).
  • Net Debt: $91.0 million (down from $105.8 million in FY24).
• Market Performance:
  • Corby’s represented spirits outperformed the Canadian spirits market in value for three consecutive fiscal years.
  • RTD sales surged 22% in Q4 FY25, outpacing the overall RTD category growth of 9%.
  • Total represented spirits declined only 2% year-over-year in FY25, compared to a 5% market decline.
• Representation Agreement Update:
  • Corby continues to represent Pernod Ricard’s international wine brands (including Jacob's Creek, Stoneleigh, Brancott Estate, and Campo Viejo) during a transition period ending August 31, 2025, following the sale of these brands to Australian Wine Holdco Limited.
  • Discussions to continue representation beyond the transition period are progressing positively.
  • These wine brands represented 2% of Corby's revenue in fiscal 2025.
• Dividend Details:
  • Declared dividend: $0.23 per Voting Class A Common Share and Non-Voting Class B Common Share.
  • Payable Date: September 26, 2025.
  • Record Date: September 10, 2025.

Notable Quotes

• Nicolas Krantz, President and CEO: "I am incredibly proud of Corby's business performance for the fourth quarter leading to a record-high revenue in full year of fiscal 2025... Our recent acquisitions in the RTD segment have yielded strong results and have supported our ability to grow rapidly to align with evolving consumer preferences and newly opened retail channels."