Q2 2024 Viva Wine Group AB Earnings Call Transcript
Key Points
- Viva Wine Group AB (OSTO:VIVA) reported a 6.4% increase in net sales for Q2, with an organic growth of 6.6%.
- The company achieved record-high market shares in the Nordic monopoly markets, strengthening its position as the market leader.
- Adjusted EBITDA margin improved significantly to 9.6%, showing a notable increase from the previous year.
- The new law amendment in Finland allowing sales of wines up to 8% in grocery stores was well-received, further strengthening the company's position in the Finnish market.
- Strong operating cash flow from ongoing business activities, despite planned inventory increases and one-time effects related to bonus payments.
- The timing of Easter had a negative effect on total market sales, impacting overall performance.
- The eCom segment showed only slight organic growth of 0.1%, with net sales slightly down due to discontinued businesses.
- Consumer sentiment in the eCom market remains low, indicating potential challenges ahead.
- The company expects a 'bumpy road' for the eCom segment in the coming quarters, indicating potential volatility.
- An impairment charge related to an old financial investment in a wine producer negatively impacted financial results.
¤ -
Good morning, and welcome, everyone, to our Q2 '24 presentation. This is agenda for today. And before we go into the quarterly update on financials, I just quickly want to start by giving you a short introduction to Viva Wine Group. We have two major segments, Nordics and eCom. In the Nordic monopoly market, we are the market leader in wine, and we also have a profitable eCom business in Europe.
Our operating companies are in the Nordic monopoly markets, Sweden, Finland, and Norway, while our eCom business is based in Germany, which is also our main market for eCom. Within eCom, we are operating three platforms, Vicampo, Weinfürst, and Wine in Black. And in total, we are now present in 11 different markets.
And now, let's move on to the quarterly update and the performance summary. In the quarter, we once again reported record-high market shares in the Nordics and we continue to strengthen our position as number one. Net sales for the group increased by 6.4% in Q2 with an organic growth of 6.6%. We can also
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
