Edrington Revenue Falls 14%: Macallan Gains Market Share

High-End Whisky Demand Slows: Edrington Pivots to Core Brands and Emerging Markets

Edrington, the parent company of The Macallan, Highland Park, and other premium spirits, reported a 14% decline in annual revenue. While core revenue saw only a slight 3% dip on a constant currency basis, overall pre-tax and operating profits dropped by more than 20%. The company attributed this to lower shipments of "prestige products," particularly high-aged whiskies like the 25 and 30-year-olds, reflecting a cautious sentiment in the luxury consumer market amid the current global economic climate.

Core Range Resilience: 12-Year-Old Sales Grow Against the Trend

Despite setbacks in the ultra-premium segment, The Macallan’s core range demonstrated strong resilience. Sales of the 12-year-old expression grew by 11%, gaining market share across Asia Pacific, the Americas, and Europe, with notable growth in China. Additionally, the Dominican rum brand Brugal continued its growth trajectory led by the US and Sweden, while The Glenrothes recorded double-digit growth following the success of its 15-year-old and the launch of The 51. In contrast, Highland Park saw a volume decline due to increased competition in its key markets.

Expansion into India and Navigating External Trade Shocks

CEO Scott McCroskie noted that the 2025/26 fiscal year faces multiple external challenges, including weak consumer confidence, increased regulation, and rising costs. The company is adopting a disciplined approach, strengthening its balance sheet and significantly reducing debt to navigate market volatility. Despite pressure on top-end demand, Edrington remains optimistic about long-term "premiumisation" and has established a subsidiary in India to tap into the world’s largest whisky market. Chairman Angus Cockburn also welcomed the removal of US whisky tariffs, viewing it as a relief from trade policy impacts.

Asset Disposal and Long-Term Strategic Health

To adapt to strategic changes and the operating environment, Edrington has implemented functional restructuring, layoffs, and completed several asset disposals. The company sold The Famous Grouse to William Grant & Sons and exited the American whiskey category by transferring its majority stake in Wyoming Whiskey. McCroskie emphasized that these moves are designed to protect the long-term health of its brands and build a foundation for sustainable growth once the market stabilizes, ensuring the business continues to lead in an uncertain spirits industry.

📅 Release Date: 2026-06-30

🔗 Source: https://www.thespiritsbusiness.com/2026/06/high-end-scotch-drags-edrington-fy-sales-down/