Bacardi-Martini NV, a Netherlands-based subsidiary and a core arm of rum maker Bacardi Ltd., posted a profit rebound for the year through March 31. Pretax earnings increased 5% to $170.4 million, and beverage revenue inched up to $5.12 billion. The company, which serves as a holding entity and internal bank for the group, saw shareholder's equity climb by $115 million to $4.27 billion. Long-term borrowings, predominantly consisting of senior unsecured notes, held steady at $3.62 billion.
Bacardi Ltd.'s headquarters are in Bermuda. Bacardi did not return requests for comment.
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The North American slowdown continued, with the region's revenue down 14% over the past two years and declining to $2.18 billion versus $2.31 billion a year earlier. Gains elsewhere more than offset that softness: revenue in Europe climbed to $1.85 billion from $1.72 billion, while the rest of the world advanced to $1.09 billion from $1.03 billion. Among its key labels are Grey Goose vodka, Patron tequila and Teeling Whiskey. The distiller is also seeing tailwinds from St Germain's momentum, with sales jumping after the Hugo Spritz emerged as a breakout cocktail in recent years.
Fitch Ratings said last month it expects Bacardi-Martini's net sales in this fiscal year to dip slightly, with North American headwinds continuing. Spirits makers are contending with a demand reset as more young U.S. consumers choose legal cannabis and reduce alcohol consumption for health reasons. Competitors are adjusting: Pernod Ricard SA forecasts it will land only at the lower end of its sales-growth range, while Diageo Plc, which Euromonitor says holds the largest share of the North American market, is cutting costs and prices to lift volumes. For everyday investors, think sector grind, not sprint, with standouts tied to specific brands and drink trends rather than across-the-board momentum.
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