Foley Wines (FWL) H2 2025 earnings summary

Executive summary

• Revenue increased 6% to $70.6m, with record case sales up 9% and export case sales up 14.6% year-over-year.

• Operating profit before revaluations and tax fell to $1.39m from $4.13m, impacted by higher costs and a smaller 2024 vintage.

• Net loss after tax improved to $(1.86)m from $(4.08)m, reflecting lower revaluation and tax expenses.

• Premiumisation strategy and strong distribution channels drove outperformance versus a declining NZ wine market.

Financial highlights

• Total revenue: $70.6m (up 6% year-over-year).

• Operating EBITDA: $12.63m (down 22% year-over-year).

• Net loss after tax: $(1.86)m (improved from $(4.08)m prior year).

• Operating cash flow: $16.16m (up from $4.34m prior year).

• Dividend of 2cps fully imputed declared for FY25.

Outlook and guidance

• Positioned for growth as market conditions improve, with focus on premiumisation and export expansion.

• Challenging trading conditions expected to persist due to global wine oversupply, high costs, and interest rates.

• Confidence in ability to sell through 2025 vintage and improve position with a normal 2026 vintage.