Sweden · Delayed Price · Currency is SEK Viva Wine Group AB Earnings Call Transcripts
Fiscal Year 2025
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Strong sales and margin growth in 2025 were driven by the Delta Wines acquisition and B2C recovery. Deleveraging progressed, dividend increased, and further growth is targeted in 2026, especially in Norway, with stable margins and ongoing M&A focus.
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Q3 saw 49% net sales growth, mainly from the Delta Wines acquisition, with both B2B and B2C segments delivering organic growth. Margins improved in the Nordics, and net debt to EBITDA declined, while new financial targets and a main market uplisting signal a focus on expansion and stability.
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Q2 2025 saw a 20% sales increase driven by the Delta Wines acquisition, though margins declined due to lower-margin business and one-off costs. B2B growth was strong, B2C stabilized, and deleveraging is expected as EBITDA consolidates.
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Q1 saw a 1% sales decline due to Easter timing, but gross margin rose by 2pp to 21.2%. Market share in the Nordics increased for the 14th straight quarter. The acquisition of Delta Wines expands the group into new European markets and is expected to be accretive to EPS.
Fiscal Year 2024
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Nordic market share hit record highs for the 13th straight quarter, driving 8.7% sales growth and a 49.6% rise in Adjusted EBITDA. eCom sales declined slightly, but new strategies are expected to boost growth in 2025. Dividend remains at SEK 155 per share.
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Record market shares and strong organic growth in the Nordics drove higher sales and margins, while the e-com segment faced headwinds from weak consumer sentiment. EBITDA margin improved to 9.9%, and the company expects further margin gains in Q4 due to price hikes.
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Record market shares and 6.4% net sales growth were achieved, with strong momentum in the Nordics and stabilization in eCom. Adjusted EBITDA margin improved to 9.6%, and a new 8% wine category in Finland contributed to growth. eCom faces continued volatility due to weak consumer sentiment.