Viva Wine Group Ab · OMXSTO:VIVA
Viva Wine Group Ab — Q4 2025 Earnings Presentation
22 slides from Viva Wine Group Ab's earnings presentation, Feb 19, 2026
Slide 1: Quarterly Results Q4 2025
QUARTERLY QUARTERLYRESULTS RESULTS Q4 Q12025 2025
Slide 2: Agenda
AGENDA Introduction to Viva Wine Group Quarterly Update Financial Overview Performance by Segment Emil Sallnäs CEO & Founder Final Comments Linn Gäfvert CFO & Deputy CEO Q&A
Slide 3: Introduction
INTRODUCTION
Slide 4: This Is Us – A Leading European Wine Group
THIS IS US – A LEADING EUROPEAN WINE GROUP Segment B2B 89% Segment B2C 11% Sales to Nordic monopoly markets E - commerce sales of wine to consumers in Retailers, restaurants in both the Nordics and Europe Europe Sales in 7 markets Sales in 11 markets through 3 platforms Nordic market leader, 22,6% m
Slide 5: Quarterly Update
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Slide 6: Q4 Performance Summary
Q1 PERFORMANCE SUMMARY Q4 PERFORMANCE SUMMARY Continued market share gains in the Nordics Net Sales of 1,774 (1,194) MSEK, . Netan sales decreased increase of 49%by 1.0%. Organic growth of - 0.9% (2,8) Adj EBITA increased to 159 ( 104) MSEK. Strenthend Gross Adj. EBITA m 9.0% margin argin(8.7) 21,2%
Slide 7: Acquisition of Majority Stake in Innovative Portfolio of Popular Brands
Innovative portfolio of popular brands.. Acquisition of majority stake in Strategic acquisition. Strengthen our presence in Norway. Entering the Norwegian grocery retail business ..within a category with strong growth potential in all our European markets NoLo - a fast - growing category Fastest gro
Slide 8: Financial Overview
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Slide 9: Strong Growth in Net Sales
STRONG GROWTH IN NET SALES +49% Net Sales per segment 582 0 -2 0 1.774 Q4 2025 vs Q4 2024, MSEK 1.194 • Strong growth in Net Sales driven by Delta Wines • Organic growth of - 1.6% (8.2). Estimates above the market Net sales B2B B2C Other Elim Net sales Q4 2024 Q4 2025
Slide 10: Higher Adj EBITA
HIGHER ADJ EBITA +53% Adjusted EBITA per segment Q4 2025 vs Q4 2024, MSEK 57 -1 -1 0 159 • Adjusted EBITA increased vs PY, mainly as an effect of the consolidation of Delta 104 Wines. • Higher adjusted EBITA margin due to 8.7% 9.0% strong performance in our B2B segment. Adj EBITA B2B B2C Other Elim
Slide 11: Strong Cash Flow From Operating Activities
STRONG CASH FLOW FROM OPERATING ACTIVITIES Cash Flow Q4, MSEK 75 - 219 • Cash flow from operating activities 123 was strong • Strong underlying operating performance • Seasonally strong working capital 100 13 90 development • Cash flow from financing activities includes repayment of term loans and r
Slide 12: Net Working Capital & Net Debt - Supported by Strong Cash Flow
NET WORKING CAPITAL & NET DEBT - SUPPORTED BY STRONG CASH FLOW Net Working Capital , MSEK Net Debt, MSEK Net Working Capital NWC/Net Sales RTM Net debt Net debt to EBITDA RTM 526 422 1 218 402 2.6x* 10.1% 10.0% 9.6% * 521 519 2.5x** 8.3% ** 1.4x 1.8x 2023-Q4 2024-Q4 2025-Q4 2023-Q4 2024-Q4 2025-Q4 *
Slide 13: Performance by Segment
PERFORMANCE BY SEGMENT
Slide 14: Market Leader in B2B
MARKET LEADER IN B2B Continue to be the # 1 in Wine in the Nordic monopoly market at a level of 22.6% (22.4%) Our B2B business in Europe has performed in line with expectations and above the market Viva Wine Group is now a significant player also in the Nordic grocery retail business
Slide 15: Segment B2B – Net Sales and Adj. EBITA Development
SEGMENT B2B – NET SALES AND ADJ. EBITA DEVELOPMENT Net Sales increased by + 59% vs Q4 202 4. • Adj . EBITA strong increase vs Q4 2024 Organic growth of - 2.5% (10.5). • Adj EBITA margin in line with P Y +59% Adjusted EBITA margin Net Sales 157 1 574 99 10.0% 10.0% 992 Q4 2024 Q4 2025 Q4 2024 Q4 2025
Slide 16: Continued Organic Growth in B2C
CONTINUED ORGANIC GROWTH IN B2C Positive organic growth for the fourth quarter in a row . 4,5% in Q4 Continued increase in number of active customers vs Q4 PY New marketing channels led to 22% more first - time customer orders in Q4 2025 vs. 2024 Outperformed the market in both growth and profitabil
Slide 17: Segment B2C – Net Sales and Adj. EBITA Development
SEGMENT B2C – NET SALES AND ADJ. EBITA DEVELOPMENT Organic growth of 4.5% in Q4 2025 ( - 2.2). Adjusted EBITA% below Q4 PY due to increased investments in customer acquisition . Net sales in line with Q4 PY . Net Sales Adjusted EBITA margin 18 200 200 16 8.8% 8.2% Q4 2024 Q4 2025 Q4 2024 Q4 2025
Slide 18: Final Comments
FINAL COMMENTS
Slide 19: Financial Targets (Medium Term)
FINANCIAL TARGETS (MEDIUM TERM) GROWTH Organic sales growth, exceeding market growth PROFITABILITY 8- 10% Adjusted EBITA margin CAPITAL STRUCTURE Net debt/ EBITDA ≤ 2.5x DIVIDEND POLICY 50- 70% of annual net profit
Slide 20: Q4 & FY Summary
Q4 & FY Summary Record high net sales and EBITA B2C back on growth track Main Market listing completed M&A – strategic acquisitions
Slide 21: Q&A
Q&A
Slide 22: Quarterly Results Q1 2025
QUARTERLY RESULTS Q1 2025