Q4 2024 Corby Spirit and Wine Ltd Earnings Call Transcript
Key Points
- Corby Spirit and Wine Ltd (CBYDF) reported significant revenue growth of 41% for FY24, breaking the $200 million milestone for the first time.
- The company achieved a robust 37% increase in adjusted earnings from operations for the full year.
- Corby Spirit and Wine Ltd (CBYDF) successfully integrated recent acquisitions, contributing to the strong financial performance.
- The company declared an increased dividend of $0.22 per share for Q4 FY24, reflecting a 5% increase from the previous quarter.
- Corby Spirit and Wine Ltd (CBYDF) managed to outperform the market in value for the second consecutive year, showing positive results in the spirits segment.
- Organic revenue saw a modest decline of 1% in Q4, excluding contributions from recent acquisitions.
- The company faced a customer pricing dispute, negatively impacting domestic case goods revenue.
- International case goods revenue declined by 27% in Q4 due to shipment phasing impacts.
- Total commissions decreased by 4% in Q4, affected by the lapping of some wine brands no longer represented by Corby Spirit and Wine Ltd (CBYDF).
- Higher interest charges related to the loan contracted to acquire ABG impacted net earnings per share growth.
Good morning. Welcome to Corby Spirit and Wines Fiscal Year End 2024 financial results conference call for the period ended June 30th, 2024. Joining me on the call this morning are Nicolas Krantz, President and Chief Executive Officer; and Juan Alonso, Vice President and Finance, Chief Financial Officer. Hopefully, you have had the opportunity to review the press release, which was issued yesterday.
Before we begin, I would like to inform listeners that information provided on today's call may contain forward-looking statements, which can be subject to risks and uncertainties cause actual results to differ materially from those anticipated risks and uncertainties about the Company's business are more fully discussed in Corby's materials, including manual interim MD&A filed with the securities regulatory authorities in Canada as required (Operator Instructions)
Now I will turn the call over to Mr. Krantz.
Thank you very much and good morning, everyone.
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