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Naked Wines (WINE) investor relations material
Naked Wines Trading update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Peak season trading performance
Achieved successful peak trading across all markets, with performance in line with full year guidance and previous updates.
Revenue declined by 19% at constant currency versus prior year, matching expectations and reflecting a focus on profitable core operations.
Average order value rose by 5% at constant currency, and revenue per member increased by 1% at constant currency.
Repeat sales were down 16% at constant currency, consistent with the strategic recalibration.
Financial guidance and capital position
FY26 revenue guidance is £200m to £216m, with adjusted EBITDA expected between £5.5m and £7.5m.
Net cash (excluding lease liabilities) is projected at £33m to £35m, factoring in share distributions.
Inventory liquidation costs are estimated at approximately $17m over the medium term.
Share buybacks in December 2025 reduced total voting rights to 68,950,414.
Strategic and operational highlights
Progress continues against key strategic KPIs, with a focus on delivering shareholder value.
Exceptional costs of £2-£3m are anticipated in FY26 due to previously announced savings initiatives.
The business remains committed to its unique customer proposition and ongoing recalibration.
- Revenue down 13%, profit fell, but liquidity and cost controls improved financial resilience.WINE
H2 202423 Jan 2026 - Revenue down 15%, cash and retention improved, FY25 outlook maintained.WINE
H1 202511 Jan 2026 - Disciplined strategy targets £75m+ cash, £10–15m EBITDA, and sustainable growth.WINE
Investor Update26 Dec 2025 - Adjusted EBITDA to reach top guidance as cost discipline boosts profitability.WINE
Trading Update18 Dec 2025 - Adjusted EBITDA up 112% to £3.6m, margin and cash improved, FY26 guidance reaffirmed.WINE
H1 202613 Dec 2025 - Profitability improved, net cash rose, and a share buyback signals confidence in future growth.WINE
H2 202523 Nov 2025 - FY25 revenue and cash targets met, with strategic focus on distribution and cash flow.WINE
Trading Update6 Jun 2025 - Solid peak season performance with improved KPIs and cash generation; strategic update due March.WINE
Trading Update6 Jun 2025
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