Delegat Group (DGL) H2 2024 earnings summary

Executive summary

• Delivered operating NPAT of $59.7m, up 1% year-over-year, and operating EBITDA of $128.5m, up 7%.

• Global case sales declined 2% to 3.61 million, outperforming the broader NZ wine export market.

• Reported NPAT fell 52% to $31.4m due to significant fair value and tax adjustments.

• Maintained a fully imputed dividend of 20.0c per share, with $20.2m distributed.

• Continued investment in growth assets and sustainability initiatives.

Financial highlights

• Operating revenue stable at $375.7m; reported revenue $378.3m.

• Operating EBIT rose 6% to $102.7m; operating gross margin improved to 46%.

• Cash from operations decreased 5% to $56.9m.

• Net assets increased to $556.0m; total assets reached $1.12bn.

• EPS dropped to 31.0c from 64.1c year-over-year.

Outlook and guidance

• Forecasts global case sales of 3.59m in 2025 and targets 3.9m by 2027.

• Operating NPAT for 2025 expected in the $55–$60m range.

• Strategic focus on North America and premiumisation to drive future growth.

• Planned capital investment of $44m in 2025 to support growth.