January - March 2026
• Net sales increased by 50.9% to SEK 1,351 (895) million. The increase compared with last year is primarily attributable to the acquisition of Delta Wines. Organic growth for the Group amounted to 2.0 (-0.9)% during the quarter, with both segments contributing to the growth.
• EBITA, adjusted, increased to SEK 75 (51) million. The adjusted EBITA margin amounted to 5.5 (5.7)%.
• Cash flow from operating activities increased to SEK 26 (0) million.
• Operating profit increased to SEK 50 (30) million. The operating margin amounted to 3.7 (3.4)%.
• Earnings per share were SEK 0.29 (0.24).
Significant events during the quarter
• Linn Gäfvert, Viva Wine Group's CFO, has been appointed Deputy CEO. The former Deputy CEO, John Wistedt, has taken on the role as Business Development Director.
• In February, Viva Wine Group acquired a majority stake in Alpha Brands AS. Alpha Brands is a Norwegian company that sells beverages to the grocery trade within the "NoLo" category, i.e. no- and low-alcohol beverages. Through the acquisition of Alpha Brands, Viva Wine Group strengthens its position both in the Norwegian market and within this growing category.
Emil Sallnäs, CEO comments:
Solid start to the year with organic growth across both segments
We started the year with record-high sales for a first quarter, with organic growth in both B2B and B2C. At the same time, we maintained healthy margins and generated strong cash flow, despite a more challenging global environment. This demonstrates the strength of our business model and our underlying business.
B2B - STRATEGIC ACQUISITION AND ROBUST NORDIC BUSINESS
We began 2026 with the strategic acquisition of Alpha Brands, which strengthens our position in Norway and broadens our exposure to 'NoLo', a growing category of beverages with no- or low-alcohol. Integration into the Group has been swift and smooth. We have already realised initial organisational and commercial synergies and Alpha Brands made a positive contribution to earnings per share in the quarter.
Our market share in the Nordic monopoly markets remained at a high level, confirming our position as market leader. Easter provided a somewhat positive calendar effect in the quarter; however, Easter sales were generally soft due to weaker consumer sentiment and cold weather. Despite this, we delivered organic growth in all Nordic markets, with strengthened margins in the underlying business.
Our European B2B business developed in line with expectations. We estimate that we have performed better than the market and thus strengthened our position.
B2C - CONTINUED ORGANIC GROWTH
The positive development within B2C continued during the quarter, with organic growth in a market characterised by weak consumer sentiment. Our estimation is that we have thereby strengthened our position in the market. We continue to capitalise on our strong customer base built up over the past year, as the number of active customers increased during the quarter compared with the corresponding period last year. In parallel, we continue to develop our strategic growth initiatives to further strengthen customer relationships and increase the lifetime value per customer.
STRONG FINANCIAL POSITION ENABLING CONTINUED GROWTH
Cash flow from operating activities improved compared with the corresponding quarter last year, reflecting strong operational performance. We ended the quarter with a net debt to EBITDA ratio of 2.6x, in line with our expectations given seasonal variations. Our strong financial position provides us with continued financial flexibility for both organic and acquisition-driven growth.
CONTINUED INVESTMENT IN SCALABLE ORGANIC GROWTH
Our companies continue to invest in innovation and product development, while integrating new technologies such as AI to increase speed to market and enhance the customer experience. By combining economies of scale within the Group with a decentralised business model, we enable local entrepreneurship, while benefiting from group-wide efficiencies. This creates the conditions for long-term sustainable and profitable organic growth.
ACTIVE ACQUISITION AGENDA
Acquisitions have historically been, and will continue to be, an important part of our growth strategy, complementing organic growth. Our broad geographical presence and decentralised structure provide us with a strong local network and good access to relevant acquisition opportunities. We continue to build and work actively with our pipeline of potential acquisitions, with a clear focus on value creation. Going forward, acquisitions will remain an important tool for accelerating growth, strengthening our market positions and creating long-term shareholder value.
SUSTAINABILITY WELL INTEGRATED
In terms of sustainability, development continued to be positive within the Group's priority areas. A clear example of how we have realised economies of scale by utilising a common AI-based platform, is this year's efficient and structured collection of climate data from all companies. We are now in the final phase of the process of determining our new climate targets, which will be presented during the year. An ESRS-inspired sustainability report for 2025 has been completed and published - our most comprehensive report to date. The sustainability section on the Group's new website has also been updated to better reflect the Group's work and ambitions.
STRONG POSITION IN A MORE CHALLENGING MARKET
Market development ahead continues to be characterised by uncertainty, and it is difficult to fully assess the long-term effects of the war in the Middle East. We are closely monitoring geopolitical and macroeconomic developments and are experiencing some impact linked to increased freight costs in Europe. At the same time, the first quarter provides us with a solid foundation for the rest of the year. Our scalable platform, decentralised model and geographical diversification position us well to handle a more challenging global environment and to continue to deliver profitable growth. I am still optimistic about the future and convinced that through our efforts, we will further strengthen our position over time.
With a strong financial position and an active acquisition agenda, we continue to build Viva Wine Group into a leading player in the European wine market, with a clear focus on long-term value creation for our shareholders.
Emil Sallnäs, CEO Viva Wine Group
Stockholm, May 2026
Please see the full report in the attached pdf.
Publication and presentation
Viva Wine Group's interim report for the first quarter of 2026 will be published on 7 May 2026 at 07:00 CET. A video conference with CEO Emil Sallnäs and CFO/Deputy CEO Linn Gäfvert will be held on the same day at 11:00. The video conference can be accessed via the following link: https://financialhearings.com/event/54716. The presentation will also be available at https://www.vivagroup.se/investors/.
For more information, please contact:
Linn Gäfvert, CFO/Deputy CEO, linn.gafvert@vivagroup.se, +46 (0)73-086 89 90
About Viva Wine Group AB
Viva Wine Group AB (publ) is a leading European wine group offering a wide range of quality wines to monopoly markets, retailers, restaurants and consumers. Through a large number of operating companies with a strong entrepreneurial spirit, the Company develops, markets and sells wines under both its own and partner brands. Viva Wine Group values a decentralised business model that allows scope for innovation while creating a common platform for synergies and economies of scale that drive value creation. With a strong track record, the Company focuses on generating profitable growth through the continuous development of its customer offering, complemented by strategic acquisitions. Viva Wine Group's share is listed on Nasdaq Stockholm (VIVA). More information at www.vivagroup.se.
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 2026-05-07 07:00 CEST.
