Oeneo Records a 8.7% Decline in Nine-Month Business Activity

Third Quarter Performance and Market Context

The third quarter of the 2025-2026 fiscal year resulted in a revenue of 61.4 million euros, down 10.3% at constant exchange rates compared to the same period last year, according to the press release. This trend is part of a contracting wine and spirits market, marked by a low volume of harvests for the third consecutive year and a slowdown in global consumption. Over the nine months, the Corking division generated a revenue of 149.6 million euros, down from 156.4 million euros a year earlier. The Aging division, on the other hand, reported a revenue of 52.1 million euros, down from 65.3 million euros in the same period of the previous fiscal year. The group anticipates similar activity in the fourth quarter and continues its cost control measures to preserve its operational profitability.

Corking Division Performance and Innovations

In the third quarter, the Corking division achieved a revenue of 46.1 million euros, bringing the nine-month total to 149.6 million euros. This development results from a lower volume due to poor harvests and challenging economic conditions prompting customers to opt for more economical solutions in the Diam range. The decline in volumes of the DIAM range is limited to 1.2%, according to the release, thanks to customer loyalty and new client gains. The Mytik Diam range, intended for sparkling wines, shows good resilience. Geographically, the decline remains measured in the group's main markets such as France, Europe, and the United States. Good sales orientation in Oceania and the rest of the world helps to offset the decline recorded in South America. Two innovations from the division were awarded in the third quarter: LiOX by Diam received the Innovation Award in October at the VITeff exhibition in Épernay, and Diam Collection was awarded in November at the SITEVI exhibition in Montpellier.

Aging Division Challenges and Geographic Impact

The Aging division records a revenue of 52.1 million euros over nine months, down 19.1% at constant exchange rates. According to the group, many clients are postponing their investments, particularly in barrels, affected by a disrupted geopolitical and economic context, the recurrent weakness of recent harvests, and a slower turnover of their stocks. Sales of large containers, exposed to the currently less buoyant cognac market, were also significantly impacted by these postponements during the third quarter, the release specifies. The ranges of oenological woods, more economical, are stable compared to last year. Geographically, France and the United States, a major market disrupted by tariffs according to the company, are the most impacted countries. The activity is better oriented in other regions, particularly in Europe. The division does not expect a significant improvement in the trend at the end of the fiscal year and continues its rationalization actions to limit the impact of the activity decline on its current operating margin. The group will publish its annual revenue for the 2025-2026 fiscal year on May 5, 2026.