REG - Artisanal Spirits Co - Notification of FY Results Date

Artisanal SpiritsAnnouncement

19/02/2024 07:00

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RNS Number : 5217D  Artisanal Spirits Company PLC (The)  19 February 2024

 19 February 2024

 

The Artisanal Spirits Company plc

 

("The Artisanal Spirits Company", "ASC" or "the Group")

 

Notification of FY Results Date, Completion of Single Cask Nation Acquisition

and Trading Update

 

The Artisanal Spirits Company (AIM: ART) is the creator of outstanding,
one-of-a-kind whisky and experiences around the world, and the owner of The
Scotch Malt Whisky Society ("SMWS"), Single Cask Nation and J.G. Thomson.

 

Notification of Full Year Results Date

The Group will publish its Full Year Results for the year ended 31 December
2023 on Wednesday, 27 March 2024.

 

Sellside analyst presentation

 

Andrew Dane, Chief Executive Officer, and Billy McCarter, Chief Financial
Officer, will host an in-person presentation for sellside equity analysts on
Wednesday, 27 March at 09.00 hours GMT.   Analysts wishing to join should
register their interest by contacting: artisanalspirits@instinctif.com
(mailto:artisanalspirits@instinctif.com)

 

Single Cask Nation ("SCN")

 

Following last month's announcement regarding the acquisition of SCN in the
US, this transaction has now successfully completed.

 

With sales commencing in Q1, the Group remains confident that SCN will make a
positive contribution to EBITDA delivery in the current year, FY24.

Encouragingly, SCN was awarded Independent Bottler of the Year Award at the
prestigious 'Icons of Whisky Awards' in Louisville in Kentucky in the US
earlier this month. This accolade further emphasises the quality and appeal of
SCN's exquisitely crafted whisky and the future opportunity for ASC in the US
augmented by this collaboration which is complementary and incremental to the
existing SMWS US business.

 

Trading Update

 

The Group is pleased to announce that SMWS membership growth increased
significantly, a leading indicator of future revenue growth, by 10% over the
year ended 31 December 2023 and now exceeds 41,000 members, a noteworthy
milestone in the Group's 40(th) anniversary year.

 

Revenue and adjusted EBITDA for FY23 remain in line with guidance issued on 8
December 2023, with revenue expected to be at the top end of £23m (plus 1%),
representing mid to high single digit full year revenue growth, and adjusted
EBITDA around break-even.

 

January trading remains in line with expectations, led by growth in China and
contribution from Taiwan. This, combined with continued good momentum in the
US, means that the Group remains confident that it can continue to grow
profitably with FY24 anticipated to deliver further revenue and EBITDA growth.

 

For further enquiries:

 

 The Artisanal Spirits Company plc                       via Instinctif Partners

 Andrew Dane, Chief Executive Officer

 Billy McCarter, Chief Financial Officer

 Liberum Capital Limited (Nominated Adviser and Broker)  Tel: +44 (0) 20 3100 2222

 Edward Thomas

 Dru Danford

 John More

 Instinctif Partners (Financial PR)                      Tel: +44 (0)20 7457 2020

 Justine Warren

 Matthew Smallwood

 Joe Quinlan

 

 

Notes to Editors:

 

About The Artisanal Spirits Company

 

ASC's purpose is to captivate a global community of whisky adventurers,
creating and selling outstanding, one-of-a-kind whisky and experiences around
the world with an ambition to create a high quality, highly profitable and
cash generative, premium global business.

 

Based in Edinburgh, ASC owns The Scotch Malt Whisky Society (SMWS), Single
Cask Nation (SCN) and J.G. Thomson (JGT), as well as operating a cask storage,
bottling and logistics facility in Scotland. Owning over 17,000 casks
primarily comprising Single Malt Scotch Whisky, ASC's stock includes
outstanding whisky (and other spirits) from 150 different distilleries across
20 countries which is sold both as individual bottles and whole casks.

 

Established in 1983, SMWS currently has a growing worldwide membership of over
41,000 paying members. With an established global presence in c.30 countries,
SMWS operates a direct-to-consumer model (90% of revenue) primarily through
e-commerce, in addition to four member rooms in the UK. SMWS provides members
with inspiring experiences, content and exclusive access to a vast and unique
range of outstanding, expertly curated, single cask Scotch malt whiskies.

 

In January 2024, ASC acquired SCN which sources, curates and bottles
single-cask whiskies and other spirits selling both online and via traditional
retail channels to its following of over 10,000 whisky enthusiasts in the
US.  SCN also retails to international markets including the UK, Germany,
Sweden, Japan, Israel and Canada.

 

Launched in the UK in late 2021, JGT has a focus on outstanding small batch
blended malt whiskies and other spirits, available both through
direct-to-consumer online sales and through traditional retail channels. The
award-winning brand has subsequently expanded into international markets.

 

With proven e-commerce reach and a growing family of brands, ASC is building a
portfolio of limited-edition and small-batch whisky and other spirits brands
for a global movement of discerning consumers - delivering revenue of c.£23
million in FY23 with over 80% of revenue generated online, predominantly from
outside the UK, with presence in the other key global whisky markets including
USA, China, Europe, Japan, Australia and Taiwan.

 

ASC has a pioneering business model, a substantial and growing addressable
market presenting a long-term global growth opportunity and a strong and
resilient business primed to deliver growth.

 

 

 

 

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