April - June 2025
• Net sales increased by 20.2% to SEK 1,339 (1,114) million.
• EBITA, adjusted, decreased to SEK 101 (107) million. EBITA margin, adjusted, was 7.5% (9.6).
• Cash flow from operating activities increased to SEK 6 (-6) million.
• Operating profit decreased to SEK 79 (81) million. Operating margin was 5.9% (7.2).
• Market share in the Nordic monopoly markets, in volume terms, amounted to 22.6% (22.9) A decrease due to tough comparison figures, caused by the previous year's shutdown of certain Swedish competitors' logistics.
• Earnings per share was SEK 0.50 (0.38).
January - June 2025
• Net sales increased by 10.7% to SEK 2,234 (2,018) million.
• EBITA, adjusted, decreased to SEK 150 (164) million. EBITA margin, adjusted, was 6.7% (8.1).
• Cash flow from operating activities totalled SEK 6 (90) million.
• Operating profit decreased to SEK 109 (114) million. Operating margin was 4.9% (5.6).
• Market share in the Nordic monopoly markets, in volume terms, increased to 22.8% (22.6).
• Earnings per share was SEK 0.74 (0.82).
Significant events during the quarter
• The acquisition of Delta Wines was completed during the quarter and has been consolidated into Viva Wine Group's accounts from 23 May.
• A dividend of SEK 1.55 per share was approved by the Annual General Meeting on 23 May and disbursed on 2 June.
Emil Sallnäs, CEO comments:
THE ACQUISITION OF DELTA WINES LAYS THE FOUNDATION FOR PROFITABLE EXPANSION IN EUROPE
In the second quarter of 2025, we took a crucial step on our journey of growth with the strategic acquisition of Delta Wines. The integration is proceeding according to plan and is facilitated by the fact that our corporate cultures and business models in essence are very similar.
DELTA WINES - A NEW EUROPEAN PLATFORM
In the second quarter, we reached a milestone in our development with the acquisition of Delta Wines, a European wine operator with a leading position in the Netherlands. This acquisition significantly strengthens our business and gives us access to a strong platform for continued expansion in Europe. Integration and harmonisation of operations is proceeding according to plan. The companies' business models, structures and cultures are very similar, facilitating the integration. Like Viva Wine Group, the entrepreneurial Delta Wines Group has a long tradition of profitable growth, both organically and through acquisitions. We look forward to continuing the journey even stronger together.
With the acquisition of Delta Wines, we are changing the names of our segments. The naming of segments reflects the segments' customers, which are Business to Business (B2B) or Business to Consumer (B2C). The B2B segment includes the former Nordics segment as well as Delta Wines, and the B2C segment represents the former Viva eCom segment.
THE ACQUISITION SIGNIFIES A SHARP INCREASE IN NET SALES
The acquisition contributed to a 20 percent year-on-year increase in net sales in the second quarter. Net sales totalled SEK 1,339 (1,114) million, and adjusted EBITA was SEK 101 (107) million, representing an adjusted EBITA margin of 7.5 (9.6) percent. Delta Wines was consolidated into our accounts with effect from 23 May, meaning that Delta's operations are only included in our accounts for just over a month in the second quarter. The gross margin for the second quarter decreased to 19.1 (20.4) percent due to Delta Wines having a lower gross margin. Viva Wine Group's operations excluding Delta Wines have increased their gross margin compared to the previous year despite negative currency effects. At the same time, OPEX has increased compared to the previous year. The increase is partly attributable to costs related to the acquisition of Delta Wines, and additionally to the previously communicated professionalisation of Viva Wine Group. The Group is investing in additional staff and marketing in businesses that have successfully grown in recent years.
THE B2B SEGMENT
Net sales for the segment increased by 24.8 percent in the quarter, which is attributable to the acquisition of Delta Wines. Although Easter fell in the second quarter this year, sales on the Nordic markets has been adversely affected by the cold weather and strong comparative figures. Our market share in the monopoly markets decreased in the quarter to 22.6 (22.9) percent. Our market share in Sweden was negatively affected by strong comparative figures in the second quarter of 2024. The comparative figures are non-recurring and related to logistic issues which affected several of our peers, and favoured our business during the previous year. However, we saw a recovery in Sweden in June, regaining market shares in the Swedish market. In Finland and Norway, however, we have performed better than the market in the quarter and once again gained market share.
THE B2C SEGMENT
In the B2C segment, we have continued to invest in marketing to expand our customer base. Consumer sentiment remains low, but our marketing efforts have paid off in the form of small growth in the customer base. Organic growth was slightly positive for the second quarter in a row. With our customer base stabilised, we have returned to organic growth. Our commitment to operational excellence remains crucial to driving further profitable growth.
FOCUS ON THE FUTURE
The uncertain geopolitical situation is affecting consumer sentiment and dampening demand in Europe and the Nordics. At the same time, the acquisition of Delta Wines means that we are taking a significantly larger and clearer position in the European wine market, which provides a more stable overall business and creates a platform for continued growth. We see a strong cultural and entrepreneurial affinity between Delta Wines and the other companies within Viva Wine Group,
giving us great opportunities for synergies in purchasing, product expertise, and product development. These are important elements in future-proofing our business. The integration is progressing according to plan, and our joint teams are showing great ability to adapt to new conditions. As we now enter the second half of the year, we do so with a sharper business focus, a broader offering, greater geographical presence, and a well-prepared organization.
With that foundation, we look forward to continuing Viva Wine Group's journey toward becoming a leading player in the European wine market.
Emil Sallnäs, CEO Viva Wine Group
Stockholm, August 2025
Please see the full report in the attached pdf.
Publication and presentation
Viva Wine Group's interim report for Q2 2025 will be published at 8.00 am on 28 August 2025. At 11:00 a.m. on the same day, a videoconference will be held with CEO Emil Sallnäs and CFO Linn Gäfvert. The videoconference can be accessed at the following link: https://financialhearings.com/event/52343. The presentation will also be made available at Reports & presentations - Viva Wine Group
Certified Adviser
FNCA Sweden AB is the Company's Certified Adviser on Nasdaq First North Premier Growth Market.
For more information, please contact:
Linn Gäfvert, CFO
Tel: +46 73 086 89 90
Email: linn.gafvert@vivagroup.se
Viva Wine Group is the leading wine group in the Nordic monopoly markets, with a strong position in the European e-commerce market for wine. The Group consists of a collection of entrepreneurial companies with head office in Stockholm, developed through organic growth and strategic acquisitions. Viva Wine Group develops, markets, and sells both wholly owned and partner brands and offers affordable quality wines from all over the world to consumers in locations such as the Nordic countries, Germany, the Netherlands, France, Switzerland, Austria, Bulgaria, the Czech Republic, Poland, Hungary, Belgium, Italy, Romania, and Slovakia. Sustainability is one of our foremost driving forces and we are a leader within certified ethical and organic wine. www.vivagroup.se/en
This information is information that Viva Wine Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-28 08:00 CEST.
