Caviro Group approves the financial statements, billed at 390 million Euros (+8%)
Satisfactory performance for the export sector (+ 17%) and excellent performance for Caviro Extra, the company completing Caviro Group’s circular economy.
Growing results for the Caviro Group which, on the 20th of December, approved the financial statements concluded on the 31st of August 2021, with a consolidated turnover of 390 million Euros, an increase of 8% compared to 2020, with an average of 583 people employed (+15 units). Such growth was supported by excellent export results (+ 17%) – of which wine +6%, and B2B +75% – and particularly by the extraordinary performance of the Caviro Extra company. The composition of the Group revenues in the fiscal period from September 1st, 2020, to August 31st, 2021, is divided as follows: wine 65%; musts, alcohol, and tartaric acid 20%; energy and environment 15%.
“In a year during which the wine consumption in large-scale distribution witnessed a decrease, we registered a significant increase in turnover, driven mainly by exports. This – says Carlo Dalmonte, Caviro Chairman – is a special satisfaction because it is already well known that the future of Italian wine will have to look to foreign markets. In general, the Group showed flexibility in a year characterized by sudden stops and starts. An increasingly close connection with the industry, the results of the many investments in sustainability, and a cohesive structure have given concreteness and economic value to the management, making Caviro an ‘Agile Giant’.
Looking at the numbers, a further consolidation of the Group is highlighted with a significant growth in net assets which goes from 89 million Euros in 2020 to 123 million Euros in 2021; for Ebitda it goes from 27 million Euros (impact on turnover of 7.4%) to 31 million Euros (impact on turnover of 8%). The net profit on the 31st of August 2021 has been of 8.7 million Euros, while the investments made by the Group reached 22 million Euros. During the 2020 grape harvest, the ordinary contributions of the shareholders were paid at an average value of 7% higher than market prices.
Among the most significant figures in the wine segment is a 6% growth related to foreign markets, an excellent result to be traced back to the diversification of the products with which the Group presents itself on the market, both from the segment and the territory of origin point of view (there are 7 Italian regions represented by the Group). In the Daily sector, the historic Tavernello brand prevails as the most consumed wine in Italy and as the best-selling Italian wine in the world. In the premium segment, the brands of the subsidiaries Leonardo da Vinci, Cesari and the new Caviro sca Vigneti Romio performed well.
With a value of 36%, the United Kingdom is confirmed as the first export market, followed by the United States (12.5%) and Germany (11.5%). The other main foreign markets in the wine sector are, in order, Canada, Switzerland, France, Japan, China and Russia.
Musts, alcohol, tartaric acid, energy
The results of Caviro Extra are particularly good. This subsidiary carries on and completes the circular economy of the Group by enhancing the by-products of production, transforming them into noble products, alcohol, and energy. In 2020/2021 Caviro Extra achieved a 23% increase in turnover compared to the previous fiscal.
“The ‘non-wine’ B2B segment showed extraordinary performances, a result due to contingent factors but also to Extra’s ability to penetrate new markets – adds Dalmonte -. As showed by the figures, the connection with the industry and the investments in the circular economy are not mere operations of green washing, but solid elements“.
Investments and sustainability
In 2020/21 the company invested about 22 million Euros in plants and technologies aimed at improving environmental performances: a direction, that of sustainability, which the Group has been pursuing for years and which will also characterize the 2022 management.
As part of this process, in 2021 the internal Sustainability Management function has been introduced and has been entrusted to an all-women team that has already defined three strategic objectives for the three-year period 2021-2024: “The first step will be the certification of the Sustainability Report which will be presented in March 2022 – says SimonPietro Felice, General Manager of Caviro -. Then, we are aiming at the integration of the Sustainability Plan with the Industrial Plan in terms of actions, resources, costs, and investments; we will also strive to bring sustainability to vineyards through the dissemination of a shared protocol among the shareholders. The third project – he concludes – concerns the business continuity in terms of human resources and training“.