The fourth quarter of 2025-2026 was in line with the first nine months, still impacted by a sharply contracting wine and spirits market. The industry continues to be affected by low harvest volumes for the third year running and a slowdown in global wine consumption.

Over the period, the Group recorded an 11.0% drop in turnover at constant exchange rates. The Closures division proved more resilient, down 7.5% at constant exchange rates, in line with distributors' cautious inventory reduction strategy, particularly in the United States. The Winemaking division, which is more exposed to the investments postponed in light of the economic climate, declined by 24.6% at constant exchange rates.

Over 12 months, turnover for 2025-2026 amounted to €275.5 million, down 9.3% at constant exchange rates. Effective cost control will limit the impact on profitability and demonstrate the Group's resilience in a deteriorated cycle. The Group's recurring operating margin should remain slightly above 13%, nevertheless declining almost 2 percentage points versus 2024-2025.

The difficulty of predicting the effects of multiple international crises calls for caution at the start of the 2026-2027 financial year. The Group is continuing to focus on productivity, cash-flow management and innovation, in order to benefit from market recovery as soon as it materializes.

Board of Directors' review of 2025-2026 by division

CLOSURES: solid performance in a challenging MARKET

The Division showed strong resilience throughout the year, in a context of low harvest volumes over the past three years and tighter customer budgets. Turnover was down by 5.3% at constant exchange rates, with nearly 2 billion cork closures sold, 85% of which were Diam.

The drop in activity was concentrated in the Americas region (the United States in particular) and to a lesser extent in Europe, with France and Spain enjoying significant new customer wins, thanks to the strong reputation of the Diam brand. New customer wins were also recorded in Oceania, where business activity seems to be rebounding after several years of decline.

This resilience in sales, combined with rigorous management of production costs, should enable the Closures division to maintain a very high recurring operating margin of around 20% of turnover.

WINEMAKING: sharp contraction in a declining global market

In a market in sharp decline globally, the Division recorded a record low with 2025-2026 turnover at €64.8 million, down 20.2% at constant exchange rates.

This trend is primarily due to the decline in the barrel business, disrupted in the United States by customs duties, and in France by the cognac market. The Division was also impacted by weak demand for large containers, exposed to the cognac market, while business remained more resilient in other markets amid a difficult economic climate.

Sales of alternative wooden winemaking solutions grew over the year. Vivelys' turnover, both services and consulting, remained stable, confirming the relevance of its positioning with winegrowers.

The Division pursued its streamlining measures to adapt to the current environment but will be in deficit for the year. The year was rich in innovations targeted to meet customers' needs and prepare for a market recovery.

Oeneo Group will publish its 2025-2026 full-year results on June 11, 2026

About OENEO Group

Oeneo Group is a major wine industry player with high-end and innovative brands. Present around the world, the Group covers each stage in the winemaking process through two core and complementary divisions:

• Closures, involving the manufacture and sale of cork closures, including high value-added technological closures through its Diam, Mytik and Setop ranges.
• Winemaking, providing high-end solutions in winemaking and spirits for leading market players through its cooperage brands Seguin Moreau, Millet, Galileo and Boisé, and developing innovative solutions for the wine industry with Vivelys (R&D, consulting, and systems).

We are passionate about the art and culture of wine, conscious of the urgent environmental and societal challenges facing our world, and firmly believe that enlightened innovation must serve the common good. We want to use our strengths and expertise to serve the wine industry's sustainable development as we innovate to uphold the great history of wine.

WE CARE ABOUT YOUR WINE

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