In a research note published this morning, the private bank stated it expects the company to demonstrate resilience in a sluggish market.

Following recent contact with the firm, Oddo indicates that the company is expected to have continued outperforming a market that declined by 1.5% over the twelve months ending in February, while maintaining its average price per bottle.

According to its analysts, the group continues to gain market share in certain countries such as the United States and the United Kingdom, and is stabilizing its positions in markets like France, Japan, and Germany, despite an intensification of promotional activity at the end of 2025 and the beginning of this year.

The ultra-premium segment remained under pressure, weighed down by aggressive promotional actions from LVMH, the bank added.

Finally, the impact of the conflict in the Middle East - a region representing less than 5% of sales according to its estimates but boasting high profitability - remains immaterial for the group at this stage.

Focus on annual results

Ahead of these results, Oddo raised its EBIT forecasts by 3% and said it expects near-stable annual revenue of 293.6 million euros, with an operating margin of 25.2% (-10 basis points).

Annual results for the 2025-2026 fiscal year, which ended March 30, will be published on May 29.

On the Paris Stock Exchange, the share price was down 2.2% on Wednesday afternoon, as the market turned away from the luxury sector following disappointing releases from Hermes and Kering.

Penalized by the gloom in the wine and spirits market, the stock has fallen 2.4% since the start of the year, following a 33% decline in 2025. It currently has a market capitalization of 516 million euros.