Edrington financial results for 2024-25

04 Jul 2025

International premium spirits company Edrington today announces its financial results for the year to 31^st March 2025. A challenging economic environment contributed to a reduction of 10 percent in core revenue to £912 million on the same period in the previous year.

The company also confirms the sale of The Famous Grouse and Naked Malt brands to William Grant & Sons Ltd, effective on 1^st July 2025. Reported results for 2025 exclude these brands, which are recorded as discontinued operations.

CORPORATE HIGHLIGHTS

• Leading brand The Macallan marked a successful 200^th anniversary year and recorded its second-highest year ever for sales, reinforcing its position as the world’s number one Single Malt Scotch Whisky by value.
• The Company completed a quartet of acquisitions and investments, which began in 2023, to establish an end-to-end supply chain of the highest quality Sherry-seasoned oak casks for The Macallan through a new partnership with the Tevasa cooperage in Jerez and two sawmills in northern Spain.
• Highland Park launched new branding and packaging inspired by its Orkney home.
• Highland Park distillery upgraded, which will reduce carbon emissions by up to 20 per cent.

CORPORATE FINANCIAL SUMMARY                                                           

*pre-exceptional items

After a period of industry-leading growth, during which the business has grown significantly, this has been a period in which Edrington experienced the full-year impact of reduced consumer demand. However, core contribution was 38 percent ahead of pre-pandemic levels.

The decline in sales was broadly consistent across international markets, with exceptions including a resilient performance by Brugal rum in the Dominican Republic and The Macallan in South Korea and Japan. The Macallan 12, 15 and 18-year-old expressions continued to grow in China and the company saw high consumer demand for products launched to celebrate The Macallan’s 200^th anniversary.

Core contribution declined more sharply, reflecting increased production and employment costs. The business reduced brand investment by nine percent in line with the reduction in revenue although the reinvestment ratio remained at market-leading levels at 24 percent of core revenue.

Commenting on the results, Scott McCroskie, Chief Executive, said: “After several years of unprecedented growth for premium spirits and industry-leading results posted by Edrington, the business felt the full effect of the global economic downturn during the year.

“Our focus on ultra-premium spirits has driven Edrington’s growth in recent years and we have continued to execute our strategy despite the hostile trading environment. This includes further strategic investments in our sherry cask supply chain and in reducing our carbon footprint.

“On 1^st July 2025 we completed the sale of The Famous Grouse and Naked Malt brands to William Grant & Sons. This reflects our choice to focus on the premium end of the market, where we are best placed to compete.

“Looking ahead, the political and economic backdrop remains volatile, which we expect will continue to weigh on consumer sentiment in the coming year. We believe top-line growth will be difficult to come by in this environment, although adjustments to overheads and brand investment are expected to align net sales and core contribution more closely next year.

“Edrington’s strategic focus on ultra-premium spirits remains effective. We will continue to execute it to strengthen our brands and our business for the long-term benefit of our investors, our employees, and those who benefit from our own and our principal shareholder’s charitable activities.”