Caviro exceeds 400 million Euros in turnover and approves a new record financial statements
The Romagna-based wine Group has been rewarded by the excellent results of the Caviro Extra company and by overall exports, with great performance on UK and US markets
Caviro approved the financial statements on the 31st of August 2022, closing with a consolidated turnover of over 417 million Euros, with an increase of 7.1% compared to 2021. Another record-breaking year which confirms the ongoing growth trend.
The excellent outcomes have allowed the Group to further consolidate its structure, achieving a net asset of 136 million Euros (+ 10.7% compared to 2021) and approving positive financial statements with a total profit of 9.6 million Euros. Ebitda also reached a good result of 36.2 million Euros (impact on turnover of 8.7%), while PNF, with 73.8 million Euros, registered a growth mainly due to the significant investments in circular economy and sustainability.
The 2021-2022 financial year of Caviro, which confirmed its market leading position in Italy and abroad, was driven particularly by the results of Caviro Extra, the Faenza-based company that carries on the circular economy of the Group by transforming the by-products of wine-making into alcohol, noble products, energy and soil amendments. Extra has indeed confirmed the excellent performance of the past three years, supporting the whole Cooperative in a complex period from a macro-economic perspective.
The Group’s results relative to export – in over 80 countries – were also remarkable, with a total turnover of 123 million Euros. The main markets were UK, USA, Switzerland, Germany, and France.
Investments in Sustainability
“In the 2021-2022 financial year, we’ve been rewarded also by the investments we made in terms of sustainability, that supported our model of circular economy – says Carlo Dalmonte, President of Caviro –. An attitude towards constant innovation that we have confirmed during this year with relevant investments in the ‘Legàmi di Vite’ project, the development contract we presented as project leader that involves 9 wineries in our region, with expected overall investments of over 90 million Euros and a generated occupational impact of approximately 70 work units per year”.
“Legàmi di Vite” was awarded the Sustainable Development Award, assigned on the occasion of the Ecomondo Expo. It focuses on the enhancement of the processing activities and the recovery of by-products, on energy efficiency, and the implementation of new treatment plants.
On the other hand, the current financial year scenario seems much more uncertain, due to the dramatic increase in both energy and raw material costs, which will probably affect operating margins.
“The indiscriminate increase in production costs has also led to a severe drop in consumption, and all the channel in the wine industry (from large-scale distribution to Horeca) are showing signs of recession – points out SimonPietro Felice, General Manager of Caviro –. A difficult situation that might soon affect other markets where Caviro is present with Caviro Extra production. Thus, our 2023 approach will be marked by the utmost prudence, and we will focus on containing and reducing costs while maximizing the enhancement of our products on the market, also in terms of sale prices”.