AdVini Reports Decline in French Wine Exports

AdVini said on Monday that exports of French still wines fell in 2025, with value down 4.5% and volume down 4.2%, as the company pointed to sharp declines in the United States and China and a weaker euro against several currencies.

The French wine group, which is based in Saint-Félix-de-Lodez, reported annual revenue of €270.1 million, down 2.7% from €277.6 million a year earlier. On a like-for-like basis, revenue fell 1.3%, which the company said reflected a more favorable product mix.

The company said the export market remained under pressure throughout the year. Sales to the United States dropped 19%, while sales to China fell 19.5%. AdVini said those declines were partly offset by growth in North America, up 26%, Europe on-trade, up 1%, travel retail, up 13%, and South Africa, up 21%.

In France, AdVini said on-trade sales rose 3%, helped by stronger brand recognition and efforts to expand its presence with restaurants and other prescribers. By contrast, sales in French supermarkets fell 13% in value, while sales in discount channels declined 4%, as the company chose to protect margins rather than chase volume.

Exports now account for 60% of AdVini’s business, the company said, as it continues to move toward higher-value wines in response to demand for lower consumption but better quality.

Profitability improved sharply. Gross margin rose to 38.7% from 36%, helped by pricing discipline despite deflationary pressure. Current EBITDA increased 12% to €20.6 million, or 7.6% of revenue, from €18.4 million a year earlier. Current operating income climbed to €9.2 million from €5.7 million.

AdVini said it kept personnel and external costs under control during the year. Financial expense fell to €7.7 million from €9.9 million, reflecting lower interest rates and reduced debt. Net debt declined to €149.8 million from €157.6 million.

The company said operating cash flow reached €27.3 million and free cash flow was €15.5 million, supported by tighter inventory management that improved working capital.

AdVini said it remains focused on organic growth in branded wines and selective distribution channels, especially exports. It also said it expects the acquisition of part of InVivo Wines’ assets to close on April 30 after an extraordinary shareholders’ meeting, bringing InVivo into AdVini’s capital and adding distribution networks, the Cordier brand and production assets tied to sparkling and dealcoholized wines.

The group said its next update will be its first-half revenue release on July 23 after the market close.