Business
Results for the period ended 31 December 2024
Results for the period ended 31 December 2024.
About this update from Chapel Down Group Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of the retained UK version of the EU Market Abuse Regulation (EU) 596/2014 (\"UK MAR\").\n \nChapel Down Group Plc\n('CDG' or 'the Company')\nEPIC: CDGP\nRESULTS FOR THE PERIOD ENDED 31 DECEMBER 2024\nChapel Down, England's leading and most celebrated winemaker, is pleased to provide its audited financial results for the year ended 31 December 2024, with net sales revenue in line with guidance and strong sales momentum in Q4.\n \n\n\n\n\nAccount\n\n\n2024\n£000's\n\n\n2023\n£000's\n\n\nChange\n\n\n\n\nNet Sales Revenue1 (NSR) - Full year\n\n\n16,351\n\n\n17,201\n\n\n-5%\n\n\n\n\nNet Sales Revenue - Q4\n\n\n5,749\n\n\n5,356\n\n\n+7%\n\n\n\n\nGross profit\n\n\n7,918\n\n\n8,911\n\n\n-11%\n\n\n\n\nGross profit %\n\n\n48.4%\n\n\n51.8%\n\n\n-3.4% pts\n\n\n\n\nAdjusted EBITDA2\n\n\n2,418\n\n\n5,733\n\n\n-58%\n\n\n\n\nStocks\n\n\n26,558\n\n\n22,581\n\n\n+18%\n\n\n\n\nNet debt\n\n\n(9,159)\n\n\n(1,236)\n\n\n+641%\n\n\n\n\nNet assets\n\n\n32,652\n\n\n34,326\n\n\n-5%\n\n\n\n\nAverage Selling Price (ASP) - Sparkling\n\n\n£13.84\n\n\n£13.15\n\n\n+5%\n\n\n\n\nPlanted vineyards (Acres / Hectares)\n\n\n1,018 / 412\n\n\n906 / 367\n\n\n+12%\n\n\n\n\n \nHighlights\n· Net Sales Revenue (NSR)1 was -5% to £16,351k (2023: £17,201), in line with guidance, but only -3% excluding the exited spirits business.\no Ecommerce +22% and On-trade +16% continued their consistent growth trajectory, showing robust growth in underlying consumer demand.\no Strong Q4 performance, with NSR +7% and NSR, excluding the now exited spirits business +10%, which momentum has been carried into the new year.\no Overall NSR significantly impacted by one-off factors in the Off-trade, including the previously reported reduction in stock held by retailers. Although NSR was -19% in the Off-trade, this was not reflective of positive Off-trade consumer sales growth3 (Chapel Down +2%, Chapel Down sparkling +4%).\n· Chapel Down are pleased to announce a new agreement with Jackson Family Wines (JFW) for the distribution of sparkling wines into the USA, our largest potential export market. JFW are a multi-generational, family run, recognised leader, in global fine wines with an extensive distribution network and dedicated sal...