Franco-Belgian Malteries: Net profit down to €25.6M, dividend maintained at €3.93
Franco-Belgian Malteries published its annual results on October 27, 2026 for the year ended June 30, 2026. The net profit attributable to the group stands at €25.6M, compared to €37.0M a year earlier, while net cash reaches €104.4M, compared to €80.4M.
The accounts highlight the weight of the International Malteries Company (CIM), consolidated using the equity method. Its share of profit, at €21.8M, represents the bulk of net profit, while the operating profit of consolidated activities stood at €3.2M.
Both sources declined over the financial year, in a declining beer market. The group nevertheless improved its working capital requirement and will propose a dividend of €3.93 per share, at the same level as last year.
Revenue down 11.9% to €116.8M
Over the 2025-2026 financial year, Franco-Belgian Malteries achieved revenue of €116.8M, compared to €132.5M a year earlier, a decline of 11.9%. The group attributes this to two factors: a decrease in volumes sold and a price of barley down compared to the previous financial year.
The market context cited by the company is that of beer production down 1.6% in Europe and 0.7% globally between 2024 and 2025. Gross margin declined, penalized by the contraction in volumes and an intensification of competitive price pressure.
Selling costs fell, due to the decline in activity, the fall in barley prices and reduced energy costs, in particular gas and electricity. Operating profit thus stands at €3.2M, compared to €5.8M, down by €2.6M, despite a slight decrease in marketing, sales and administrative expenses.
CIM contributes €21.8M to net profit
The group's net profit mainly depends on its 47.7% stake in CIM, which holds interests in companies based in Eastern Europe. Its contribution stands at €21.8M on June 30, 2026, compared to €31.3M a year earlier.
According to the press release, CIM's sales show stable volumes in a declining market, but its gross margin was strongly affected by competitive price pressure. Net profit attributable to the group comes to €25.6M, compared to €37.0M in the previous year's disclosure.
The financial structure, however, strengthened. Net cash reaches €104.4M, compared to €80.4M, following the improvement in working capital requirement. Total balance sheet stands at €406.0M and shareholders' equity at €360.9M.
The group continued its investments, with maintenance work at the Prouvy site and the replacement of a building at Pithiviers as part of the "Retrofit" project. These expenditures are intended to support a differentiation strategy based in particular on an expanded range of specialty malts intended for craft brewers.
Dividend maintained at €3.93, Grand Export cited as growth driver
Going forward, Franco-Belgian Malteries indicates that the beer market should remain affected by inflationary pressures, an uncertain geopolitical environment and the gradual evolution of consumption habits. The group nevertheless views its prospects positively and cites growth opportunities for volumes, in particular in the Grand Export business.
The company states it is attentive to intensifying competition, which could put pressure on margins. It intends to continue its industrial transformation program and product innovation work, as well as the rollout of the "Climcare" initiative with certain customers.
It will be proposed to the general meeting of December 17, 2026 to distribute a dividend of €3.93 per share, identical to that paid for the previous financial year. The coupon detachment will occur on January 5, 2027 and payment on January 7, 2027.
This dividend is based on net cash of €104.4M on June 30, 2026 and shareholders' equity of €360.9M, for a net profit attributable to the group of €25.6M over the financial year.
