The financial consequence of Endeavour Group’s wine exit has arrived

Endeavour Group (ASX: EDV) published its full-year FY2026 results on 5 August 2026, reporting a net loss after tax of A$174 million for the year – a material deterioration from the prior year – primarily driven by non-cash impairment charges and write-downs of A$596 million related to the wine asset restructure announced in May 2026. Group sales for the year were A$12.2 billion, broadly in line with the prior year. The wine manufacturing division, Pinnacle Drinks, recorded an EBIT loss of A$516 million, reflecting the impairment of goodwill and assets associated with the winery and vineyard disposals. Excluding the impairment and write-down charges, Endeavour Group’s underlying retail business continued to generate positive operating results, with the Dan Murphy’s and BWS retail network remaining Australia’s largest drinks retail operation. The impairment charges are non-cash and reflect the accounting consequence of a decision previously announced – not a deterioration in ongoing trading performance.