Artisanal Spirits Reports Strong Financial Performance

Artisanal Spirits announced that both revenue and adjusted earnings for 2023 are in line with guidance, with anticipated profitability improvements in 2024 primarily driven by growth in China.

Revenue and Earnings Projections

Revenue for the year is expected to fall at the top end of the guidance range at 23 million pounds ($29 million), showcasing a growth of mid-to-high single digit percentage. Moreover, adjusted earnings before interest, taxes, depreciation, and amortization are projected to be around break-even.

Performance Overview

The company noted that January's performance aligns with expectations, driven by growth in China and contributions from Taiwan. The sustained positive momentum in the U.S. positions the group confidently for continued profitable growth in 2024, anticipating further revenue and Ebitda growth.

Membership Growth and Acquisition

Artisanal Spirits highlighted a 10% increase in Scotch Malt Whisky Society membership over 2023, surpassing 41,000 members. Membership growth serves as an indicator of future revenue growth. Additionally, the acquisition of Single Cask Nation in the U.S. has been successfully completed, with expectations of a positive Ebitda contribution in 2024.

Future Outlook

The company is set to release its full-year earnings on March 27, providing a comprehensive overview of its performance and projections moving forward.