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Time is on our side TFF GROUP ANNUALS RESULTS 2020/2021 A SOLID RESISTANCE FOR TFF'S OPERATIONAL RESULTS A CONFIDENT AND CAUTIOUS OUTLOOK Monday July 12th 2021 , 17h45 The Management Board , meeting on July 12th under the chairmanship of Jérôme François , examined and approved the accounts that closed on April 30th , 2021 , which will be submitted for approval to the next General Meeting on October 29th , 2021 , during which a dividend of € 0.35 per share will be suggested : Consolidated accounts in M € IFRS 2020/2021 % 2019/2020 % Var . Turnover 260.88 279.66 -6.7 % EBITDA 47.90 18.4 % 53.43 19.1 % -10.3 % Profit from recurring operations 36.83 14.1 % 43.66 15.6 % -15.6 % Operating profit 37.44 14.4 % 35.59 12.7 % 5.2 % Operating profit after MEE 37.96 14.6 % 36.42 13.0 % 4.2 % Financial result ( 10.27 ) 1.11 Taxes ( 7.19 ) ( 10.68 ) NET PROFIT 20.50 NET CEO RESULTS 20.04 7.9 % 7.7 % 26.85 26.64 9.6 % 9.5 % -23.6 % -24.8 % * EBITDA definition : earnings before interest , taxes , depreciation and amortization The audit procedures on the consolidated financial statements have been carried out . The certification report will be issued after the finalization of the procedures required for the publication of the annual financial report . TFF'S STRONG OPERATIONAL PERFORMANCE In an unprecedented context that was marked simultaneously by the pandemic , Brexit , US taxes and climate - related difficulties , TFF Group was able to demonstrate its strong ability to anticipate and respond , thus limiting the fall of its turnover to- 5.2 % like - on - like ( -6.7 % in consolidated terms ) , with the company's EBITDA remaining at the high level of 18.4 % of revenue . Wine division : € 148 million of activity , i.e. - 11.9 % ( -12.1 % like - on - like ) The wine business was penalized by a 2020 harvest that was low in volume with 45 % of the group's markets impacted by the fires in the USA and in Australia and the context of a pandemic that was hardly conducive to investment . Alcohol division : € 112.9 million in turnover or + 1.1 % ( + 5.2 % like - on - like ) The whisky division held up well thanks to a trading business that grew in volume thus compensating the prices that fell as a of an abundance of used barrels . The renovation / repair activity continued to grow thanks to the opening of our 8th production site . A site that will allow us to reach a production level to 1 million barrels a year . The Bourbon division reached € 65.8 million in activity , representing a rise of 7.8 % . The winning combination of cooperages and stave - mills has helped fuel a growth momentum over the last 4 years and despite the COVID - 19 pandemic .