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The Spanish wine company González Byass is negotiating with banks to restructure its debts amounting to 150 million euros. This is reported by the newspapers El Conciso and Diario de Jerez. The goal is to reorganize the terms of the loans, as there is a lack of money to make short-term payments. According to media reports, the problem is not the amount of the debts, but their maturity.
González Byass cites the decline in wine consumption, uncertainties in trade with the USA, and rising interest rates as reasons for the problems. However, the company emphasizes that it operates profitably and expects a revenue of 230 million euros by 2026.
The company closed the fiscal year 2024 with a profit of 72,000 euros – compared to around two million euros in 2023. Revenue fell to 235 million euros in 2024. Operating profit deteriorated from 12.8 to 9.3 million euros. As reported by the magazine Economía Digital, the surplus was only possible because profits in Spain more than tripled in 2024 compared to the previous year. They amounted to 3.2 million euros and were able to offset significant losses in Chile and the USA.
The company González Byass has been in its sixth generation of family ownership since 1835. The group includes over 25 wine and spirits brands in Spain, Chile, and Mexico; these include Tío Pepe, Lepanto, Beronia, and Viñas del Vero. A restructuring began in 2025 after the company received a new loan of 86 million euros. In October, 34 employees were laid off in service and sales companies, and several facilities were sold, including a distillery.
(cs; Image: González Byass)
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