The second quarter of 2025 marked a transformative period for Viva Wine Group. While revenues surged thanks to the acquisition of Delta Wines, profitability was weighed down by integration costs and margin pressures.
The report highlights the company’s growing pan-European footprint, financial resilience, and strategic outlook as it positions itself for long-term growth.
Key Financial Highlights
- Net sales grew by 20.2% year-over-year to SEK 1,339 million (≈ EUR 118 million).
- Adjusted EBITA fell by 5.7% to SEK 101 million (≈ EUR 8.9 million), with the adjusted EBITA margin declining from 9.6% to 7.5%.
- Operating profit (EBIT) dropped slightly to SEK 79 million (≈ EUR 7.0 million) with an operating margin of 5.9%, down from 7.2%.
- Net profit jumped 33.4% to SEK 47 million (≈ EUR 4.1 million), supported by improvements in net financial items.
Strategic Acquisition: Delta Wines
- Finalized on May 23, 2025, the acquisition of Delta Wines expanded Viva Wine Group’s presence in the Netherlands, Poland, Czech Republic, Belgium, and Finland.
- The deal contributed significantly to revenue growth but also weighed on margins due to Delta Wines’ lower gross margins and integration costs.
- The acquisition strengthens Viva Wine Group’s pan-European presence and sets the foundation for cross-market synergies in procurement, marketing, and product development.
Segment Performance Breakdown
B2B Segment (Nordics + Delta Wines)
- Net sales rose by 24.8% to SEK 1,171 million (≈ EUR 103 million), with organic growth of 1.1%.
- Adjusted EBITA decreased slightly to SEK 91 million (≈ EUR 8.0 million), with the margin contracting to 7.8% due to higher marketing and personnel costs.
B2C Segment (E-commerce)
- Net sales declined by 4.0% to SEK 166 million (≈ EUR 14.6 million), mainly due to currency effects, though organic sales grew 0.6%.
- Adjusted EBITA dropped to SEK 11 million (≈ EUR 1.0 million), reflecting higher distribution costs and lower gross margins.
- Positive momentum came from a stabilizing customer base and renewed marketing investments.
Financial Position & Liquidity
- Equity ratio decreased to 32.6%, while net debt rose sharply to SEK 1,539 million (≈ EUR 135 million), primarily due to financing the Delta Wines acquisition.
- Cash flow from operations improved, reaching SEK 6 million (≈ EUR 0.5 million) compared to negative SEK 6 million in the prior year.
- The acquisition was financed via a combination of bank loans, factoring, and overdraft facilities.
Strategic Outlook
CEO Emil Sallnäs emphasized that despite short-term margin pressure, Viva Wine Group is well positioned for long-term growth. The broadened geographic base and enhanced scale create resilience against macroeconomic uncertainties and market risks. With synergies expected to unfold, the company is building a stronger platform for sustainable expansion across Europe.
Source: Viva Wine Group