The Scotch Malt Whisky Society is exploring possibility of IPO

Artisanal Spirits Company, owner of The Scotch Malt Whisky Society, a global association of Scotch single malt whisky lovers, associating over 28,000 members worldwide, considers going public after sales surge in 2020. The group reported very strong results for the previous year and is currently exploring IPO on the London Stock Exchange.

SMWS revenues increased to £ 15 million in 2020, driven by a 30% increase in e-commerce sales and growing demand for premium Scotch whisky in the UK and abroad. Foreign trade now accounts for 69% of the group's total revenues, an increase of 10% compared to 2019. The Scotch Malt Whisky Society membership grew by 4% last year to around 28,000, driven mainly by the increase in online registrations .

 Despite the negative impact of high tariffs on exports to the USA (the association's second largest market), the association's EBITDA increased by 100,000 GBP. The largest international market in 2020 was China, with sales in excess of £ 3 million. ASC expects continued strong growth abroad, especially in China, Germany, Japan and the US.

Paul Skipworth, who has served as President of the Artisanal Spirits Company in recent years, said:

“Over the past five years as chair, I’m delighted that company revenues have nearly tripled, stock levels have quadrupled and the business has changed positively and dramatically from being 80/20 UK/International to around 30/70 UK/International. The foundations for success have been built and are delivering results year on year. Further ambitious plans are under consideration. I have no doubt that the future is bright for the ASC. I believe that the ASC is extremely well positioned to take advantage of the global consumer trends of premiumisation; digital engagement and e-commerce; internationalisation of brands and consumers and the consumer thirst for knowledge on the creation, authenticity and heritage of the products that they consume. Combined with its stock holdings and supply relationships with over 100 distilleries worldwide, I believe that the ASC will continue to grow strongly in the years ahead.”

ASC's new president Mark Hunter said:

“I feel very privileged to take on this role at such an exciting time for ASC and the Scotch Malt Whisky Society. SMWS is a special organisation, delivering only the very best single cask, single malt whisky, craft spirits and entertainment to its loyal members around the world. Working alongside the ASC executive team, I am committed to continuing the work of my predecessor, Paul, in ensuring the Society continues to grow and thrive while protecting the distinctive culture and values that make it so unique.”

Source: dailybusinessgroup.co.uk

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