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Viva Wine Group
Viva Wine Group (VIVA) investor relations material
Viva Wine Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
Achieved record net sales and EBITA in 2025, driven by the acquisition of Delta Wines and strong B2C performance, with B2B now representing nearly 90% of business and expanded presence in seven markets.
Strategic acquisitions, including Delta Wines, Alpha Brands, and Vinguiden Nordic AB, strengthened the NoLo segment and expanded access to Norwegian grocery retail.
Listed on Nasdaq Stockholm Main Market in December 2025, marking a significant milestone and supporting further M&A activity.
Entered 2026 with a focus on growth, especially in Norway, and ongoing evaluation of further acquisition targets.
Financial highlights
Net sales increased by 49% year-over-year in Q4 to SEK 1,774m, and by 30.5% to SEK 5,495m for the year, mainly due to Delta Wines acquisition.
Adjusted EBITA rose 52.6% to SEK 159m in Q4 and 18.8% to SEK 435m for the year, with Q4 margin at 9.0%.
Net income for the year was SEK 218m, up 18.6% year-over-year; EPS increased to SEK 2.32 for the year.
Strong operating cash flow and improved working capital, with a proposed dividend of SEK 1.60 per share, within the 50%-70% payout policy.
Net debt/EBITDA reduced to 2.6x at year-end, targeting ≤2.5x.
Outlook and guidance
Updated financial targets: organic sales growth above market, adjusted EBITA margin 8–10%, net debt/EBITDA ≤2.5x, and dividend payout of 50–70% of annual net profit.
OpEx as a percentage of net sales expected to decrease from 12.3% in 2025 to around 11% in 2026, though absolute OpEx will rise due to further Delta consolidation.
Gross margin expected to remain stable with potential positive FX effects in H2 2026; Q1 and Q2 to reflect lower margin mix from Delta Wines.
Management expects continued growth through both organic initiatives and strategic acquisitions.
Delta Wines impact on new EBITA margin target
B2C organic growth: key drivers and sustainability
What is the plan to reduce Net Debt/EBITDA to target?
Delta sales synergies timeline
B2C organic growth sustainability
Norway market share growth path
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Next Viva Wine Group earnings date
Q1 20267 May, 2026
Viva Wine Group
Next Viva Wine Group earnings date
Q1 20267 May, 2026
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Frequently asked questions
Viva Wine Group is a producer and distributor of wines, focusing on offering a broad portfolio of wine brands across various price segments. The company specializes in sourcing, producing, and marketing wines from different regions worldwide, catering to a diverse range of consumer preferences. Viva Wine Group operates through multiple subsidiaries and collaborates with wineries and vineyards globally, ensuring a varied selection of wines. The company's products are available through retail channels, online platforms, and direct sales, serving markets in Europe and beyond. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Stockholm Stock Exchange.
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