Today techs AdVini – Half-year outcomes 2022

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outcomes half-yearly 2022

And fee the EBITDA content material regardless of the inflationary context

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Consolidated simplified earnings assertion (M€) S1 2021 S1 2022 Was. 2022 / 2021
today techs ; “>Turnover 135,3 141,4 4,5%
Gross margin 48,3 50,5 4,5%
Gross Margin (% CA) 35,7% today techs vertical-align: middle ; “>35,7% 0,0 bps
Present EBITDA 11,4 10,9 -5,2%
Fee Present EBITDA (% CA) 8,5% 7,7% -0,8 bps
Non-Present Working Revenue and Bills 1,0 – 0,6
Internet revenue 3,0 1,4 -52,2%
Internet monetary debt 148,1 144,3 -3,8
Gearing (%) today techs solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; “>149% 147% -2 bps


AdVini’s income at June 30, 2022 amounted to €141.4 million, up 4.5% in comparison with information printed at June 30, 2021 and 0.3% at fixed scope and alternate charges taking account particularly of the acquisition of BVC Bodegas in April 2021.

In France, the Mass Retail and Onerous Low cost markets, which had grown in 2020 (+6.3% vs. the primary half of 2022 (-10.8%). Conversely, the selective networks and Cafés Motels Eating places (CHR), which generate higher margins, recorded very sturdy development (+84.1%) permitting the extent of exercise to be regained within the semester of 2019.

A l’Export, the state of affairs is combined: Retail is down sharply (-21.2%), significantly within the UK (-18.3%) and Benelux (-25.9%). Alternatively, the CHR and the selective networks, with out but reconnecting with 2019, make it doable to partially compensate for this delay in Benelux (+21.9%), within the German-speaking international locations (+32.8%) and within the Mediterranean basin (+ 54.3%). The world Americas (+9.2% of which +3.6% at fixed alternate charges) continued to develop, helped by the strengthening of the Canadian and US {dollars}. Likewise, the world Asia (+14.7%) noticed an upturn in exercise in lots of international locations. Lastly, gross sales inside the scope South African proceed to develop strongly (+16.2% together with 12.6% at fixed alternate charges) each domestically and on the North American and European continents, pushed by emblematic manufacturers resembling “Le Bonheur” and “Arniston Bay”.

Outcomes and monetary parameters

Gross margin, up €2.2 million (€2.5 million at fixed scope and alternate charges), confirmed a secure fee of 35.7% due to the development within the product combine and the gradual influence of will increase on costs gross sales; and this, regardless of the price will increase recorded today techs because the starting of the yr each for dry supplies (glass, cartons, caps, and so forth.) and for wines from prestigious appellations, and taking into consideration the combination of BVC whose fee of margin is structurally decrease than that of AdVini.

Present EBITDA at €10.9m stands at 7.7% of income and eight.2% on a like-for-like foundation (vs. 8.8% in H1 2021 and eight.3% at December 31, 2021). It’s impacted by a major enhance in bills of €3.5 million (+10%) consecutively:

  • the 2022 wage will increase, a lot greater than earlier years to help the buying energy of our workers, mixed with the strengthening of the gross sales and advertising and marketing administration groups,
  • the resumption of area journeys, gala’s and reception on our websites.

Lastly, the monetary cost remained secure over the primary half at €1.9 million.

On this context, web earnings reveals a revenue of €1.4m in comparison with €3m as of June 30, 2021, which included optimistic non-current gadgets for €1m consisting of the capital achieve on the sale of Rigal much less the influence of the episode of frost in April 2021.

money stream consumption below management regardless of a decent provide setting :
The seasonality of the exercise in addition to the sturdy tensions on the availability of dry supplies (bottles, packing containers, and so forth.) weighed on working capital and resulted in a money consumption of €7.2 million within the first half of 2022. Regardless of all the things , web debt (excluding IFRS 16) at €144.3m is €3.8m decrease than in June 2021 (€148.1m) for a gearing of 147% in comparison with 149% in June 2021 and 144% on the finish of December 2021 .

Views 2022
In September 2022 and following the press launch of April 19, 2022, AdVini South Africa, a subsidiary of AdVini France, finalized the acquisition of 100% of the corporate Kleine Zalze Wines whose head workplace relies in Stellenbosch (South Africa). South). As a reminder, the transaction considerations the wine exercise together with the Kleine Zalze and Foot of Africa manufacturers, the historic web site and head workplace of Kleine Zalze with the winemaking and getting older cellars and the wine tourism web site which welcomes practically 25,000 guests. per yr.

As well as, the context of excessive uncertainty anticipated for 2022 is confirmed. It requires coping with geopolitical and well being points in lots of international locations, the very important rise within the costs of uncooked supplies, vitality and rates of interest, the return of inflation everywhere in the world which is weighing on consumption, significantly in supermarkets.
The great 2022 harvest in France has coloured this gloomy panorama as a lot because the resilience of AdVini, which has at all times been in a position to adapt to market circumstances and contexts and to move on noticed value will increase with good purpose.
Certainly, AdVini celebrates in 2022 with its 950 workers its 150 years of existence, and though cautious and conscious of the challenges and difficulties, retains in sight its development goals due to the standard of its property and its wines, the unfailing dedication of all its workers, the deployment of its ESG coverage, and the optimization of its provide in all markets.

Info on the progress of the work of the statutory auditors:
The half-yearly consolidated monetary statements have been topic to a restricted overview by the Statutory Auditors.

A propos d’AdVini

With 2,074 hectares of vineyards, anchored in probably the most famend wine areas, with Ogier and his Clos de L’Oratoire des Papes in Châteauneuf-du-Pape, Antoine Moueix Properties with Château Capet-Guillier in Saint-Emilion and Château Patache d’Aux in Médoc Cru Bourgeois, Domaine Laroche in Chablis, Maison Champy in Côte-de-Beaune, Vignobles Jeanjean and Mas La Chevalière in Languedoc, Cazes and its Clos de Paulilles in Roussillon, Gassier with the Château Gassier and the Château de Roquefeuille in Provence Sainte Victoire, AdVini is the main participant in French terroir wines.
AdVini can be current in South Africa on nearly 250 hectares of vines at Stellenboschwith L’Avenir, wine tourism property, Ken Forrester VineyardsHappiness Wine Property, Stellenbosch Vineyards et Little Zalze Wines.
Its Wine Homes and Vineyards profit from a consistently rising repute and recognition that enable them to be exported to 110 pays.

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