“The Group continued to improve its operating performance in 2022. During the year, we successfully created value by working on multiple fronts: intensifying international growth, continuing the value-over-volumes strategy, and completing the restructuring program, said Fahd Khadraoui, Chief Executive Officer of Marie Brizard Wine & Spirits, said:. The biggest contributors to value creation were international development and the streamlining of overheads.

On the other hand, the Group was hardly hit by a tough external environment in 2022: the unprecedented surge in raw material and energycosts and patchyavailability of supplies restricted our capacity to meet customer demand and eroded margins. Nevertheless, we remained on track thanks to the hard work put in by all our teams," he said.

"This situation persists in 2023,and our major challenges this year will again be to deal with these external factors: theprice list increase policyto mitigate the effects of inflation, the availability of raw materials and the impact on our customers’ purchasing power. All of which leads us to take a prudent approach in the short and medium term, while maintaining our mainstream positioning and the quality of our products, a winning combination for our consumers in inflationary times,” Khadraoui said.