Italian Wine Brands S.p.A. (IWB), Italy’s largest listed wine group, has reported a record-breaking net profit of EUR 10.3 million for the first half of 2025, marking a 13.4% increase compared with 2024.
This milestone underscores the Group’s resilience and strategic adaptability in an increasingly challenging global wine market.
Key Financial Highlights
- Revenues from sales: EUR 185.1 million (-3.17% YoY)
- EBITDA: EUR 21.0 million (+3.28% YoY)
- Net profit: EUR 10.3 million (+13.4% YoY)
- Net debt: EUR 90.5 million (down EUR 17.6 million vs. June 2024)
- Cash generation (12 months): EUR 30 million (before dividends and buyback)
- Ho.Re.Ca. channel revenues: +8.8% vs. 2024
Despite a modest drop in revenues, IWB’s profitability reached historic highs thanks to cost optimization, premium product focus, and strong performance across key channels.
Market Dynamics and Strategic Focus
IWB’s strategy emphasizes diversification of brands, channels, and positioning, reducing exposure to global economic and geopolitical risks. Notably:
- The Ho.Re.Ca. channel achieved nearly 9% growth, reflecting strong demand for premium, own-brand products.
- Wholesale revenues declined due to post-inflation price adjustments but were offset by lower production costs and increased volumes.
- Distance selling channels faced declines (-13%), particularly in telesales, though the Group’s digital platform Svinando grew +4.3% in revenue.
Cost Management and Margins
A reduction in raw material costs, especially glass (-5% vs. 2024), coupled with lower service costs and stable personnel expenses, allowed IWB to achieve an EBITDA margin of 11.7%—an all-time record. These efficiencies enabled increased investments in marketing and brand support for the second half of 2025.
Outlook
Looking ahead, IWB plans to:
- Accelerate growth of its Top Brands, expanding margins further.
- Continue optimizing its production and cost structure.
- Pursue investment opportunities to reinforce its position in core international markets.
- Strengthen its sales and marketing teams to support expansion.
Alessandro Mutinelli, Chairman and CEO, highlighted that IWB’s ability to innovate, diversify, and control costs while maintaining quality ensures resilience against market headwinds such as tariffs, changing consumer habits, and reduced purchasing power.
With a stronger financial position, record net profit, and ongoing cash generation, Italian Wine Brands is set to sustain growth and shareholder value creation in the years ahead.
Source: IWB