Sweden's Viva Wine Q2 sales rises on acquisitions
Sweden's Viva Wine Q2 sales rises on acquisitions
Overview
Sweden-based wine group's Q2 net sales rose 21%, driven by recent acquisitions
Q2 organic growth was negative amid weak consumer sentiment and higher costs
In June, Company board recommended shareholders accept SEK 38.5/share public takeover offer
Outlook
Company expects weakened consumer sentiment and higher freight costs to continue impacting results
Viva Wine sees ongoing uncertainty due to geopolitical and macroeconomic factors
Result Drivers
ACQUISITIONS - Q2 sales growth mainly driven by Delta Wines and Alpha Brands acquisitions, per CEO Emil Sallnäs
WEAK CONSUMER SENTIMENT - Negative organic growth and lower sales attributed to weakened consumer sentiment from geopolitical and macroeconomic uncertainty, per CEO Emil Sallnäs
HIGHER FREIGHT COSTS - Increased freight and distribution costs negatively impacted results, per CEO Emil Sallnäs
Company press release: ID:nMFN7bWFNS
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| SEK 1.62 bln |
|
Q2 Adjusted EBITA |
| SEK 108 mln |
|
Q2 Adjusted EBITA Margin |
| 6.70% |
|
Q2 EBIT |
| SEK 79 mln |
|
Q2 EBIT Margin |
| 4.80% |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the food retail & distribution peer group is "buy"
Wall Street's median 12-month price target for Viva Wine Group AB is SEK38.50, about 1% above its August 19 closing price of SEK38.10
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago
Reuters Recommended Reads
Aug 19 - Denmark's Carlsberg H1 organic revenue rises, narrows FY operating profit growth forecast
Aug 19 - Sweden's Idun Industrier Q2 sales rise on acquisitions
Aug 17 - Denmark's Royal Unibrew Q2 revenue slightly beats; DKK 300 mln buyback launched
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)