Caviro
Caviro

Gruppo Caviro closes its 2022-2023 financial statements. Solid financial performance with a turoner of 423 million euros

The Shareholders’ Meeting renewed the Board of Directors with the entry of four new Directors, and reconfirmation of Carlo Dalmonte at the helm of the group

Faenza, 18th December 2023 – This morning in Faenza, the Gruppo Caviro Shareholders’ Meeting approved the financial statements ending on 31st August 2023. Caviro, first in Italy by wine sector market share, closed the 2022-2023 fiscal year with a consolidated turnover of Euro 423 million euros, slightly up on the previous year, and with stable financial indicators (EBITDA, Euro 33.2 million; NFP, Euro 74.3 million). At the same meeting, the Board of Directors was renewed, with the entry of four new directors, and the reconfirmation, as President, of Carlo Dalmonte, who has been at the helm of the group since 2012.

In thanking the Shareholders’ Meeting for their trust,” commented President Carlo Dalmonte, “I want to underline the important work carried out in recent years by the Board of Directors, and the contribution of the outgoing Directors, Maurizio Baldisserri, Raffaele Drei, Francesco Labbrozzi and Gianfranco Ravaglia. We welcome the new Directors, Giuseppe Alfino, Alberto Guerra, Alessandro Neri and Roberto Savini, to the group. Despite the extraordinary events experienced in the last year – referring to the fire that involved the Faenza site, and the serious flood that hit the local area – the group has achieved positive results, and confirmed its stability.

The results of the 2022-2023 fiscal year were driven by the good performance of Caviro Extra, the Faenza-based company that implements the group’s circular economy model, and by exports representing Euro 143 million in turnover (up 16% from the previous year), of which over Euro 103 million in the wine sector. The growth in exports was above all attributable to the UK market.

The investments made on the sustainability front and the implementation of projects linked to development contracts, in support of the circular economy model, confirm the group’s propensity for innovation, with technical investments made in the new automatic warehouse at the Forlì winery and the start of a post-fire refurbishment at the Faenza site, where Caviro Extra produces noble products, energy and fertilizers from the by-products of wine-making. Despite the extraordinary year, Extra has reconfirmed the good performances of the last three years, validating the strong market interest in the products generated by Caviro’s circular economy model, and supporting the group in a complex period from a macro-economic point of view.

“We need confidence and determination to face a very complex national context, linked to exogenous market factors such as inflation and the decline in consumption and production, even as much as 50% in some regions of our supply chain,” added Dalmonte. “The prospects are even more complex, with effects that will reverberate into the new financial year. However, the group is committed to facing the challenges that the year has presented, appreciating, as always, the hard work of its members. The new board will mark a change of pace and the beginning of a new chapter, with a new direction and the entire management committed to countering the effects of the negative trend.

The new general management, fully operational from 1st September 2023, is entrusted to Fabio Baldazzi, Giampaolo Bassetti and Valentino Tonini. “The group’s approach to 2024 will be of maximum prudence and with a focus on cost containment and maximum valorization of the products of all the production units on the market, also in terms of selling price,” concludes Dalmonte.