Endeavour Group profits plunge as restructuring write‑downs hit earnings

Australia's largest drinks and hospitality retailer, Endeavour Group, announced a dramatic fall in profit for fiscal 2026 after implementing a $300 million restructuring programme. Net profit is projected to drop from $426 million in FY2025 to about $52 million, an 87.8% year‑on‑year decline, while earnings before interest and tax fell 17.6%.

The loss reflects $311 million in charges, including $194 million of non‑cash asset write‑downs on wineries, vineyards, hotels and retail stores, plus a $78 million impairment on vineyard assets, $67 million on hotels and $45 million on retail locations. CEO Jayne Hrdlicka said the reset positions the company to focus on its core businesses. Group sales reached $12.2 billion, with liquor store sales up 0.7% and hospitality sales up 4.2%. The planned closure of the Melbourne Liquor Distribution Centre will incur $40 million in exit costs.