Australian Vintage Ltd · ASX:AVG
Australian Vintage — H1 FY2026 Earnings Presentation
19 slides from Australian Vintage's earnings presentation, Feb 19, 2026
Slide 1: FY26 Half Year Results
FY26 HALF YEAR RESULTS FEBRUARY 2026 1
Slide 2: Disclaimer
Disclaimer The presentation has been prepared by Australian Vintage Limited (ACN 052 179 932) (“AVG”) (including its subsidiaries, affiliates and associated companies) and provides general background information about AVG’s activities as at the date of this presentation. The information does not pur
Slide 3: Summary and outlook
Summary and outlook • We remain on track to deliver in line with our guidance of sales growth for FY26. • Cash and net debt remain in line with guidance, and we expect free cash flow, excluding strategic investments, to be neutral for the full year. • Innovation accelerating in distribution and sale
Slide 4: Agenda
Agenda 1) Highlights: 2026 half year results 2) The shifting wine market and category dynamics 3) Our strategy positions us for success: portfolio and market 4) Results 5) Outlook 4
Slide 5: Highlights: 2026 half year results
Highlights: 2026 half year results Financial summary: • H1 Sales in line with expectations, largely unchanged vs. prior year (-1.7%). • Net Debt of $110m in line with previous market guidance. Key growth drivers and partnerships set to accelerate growth in H2: • Leading innovation Poco Vino, a new a
Slide 6: The wine market is shifting
The wine market is shifting – here is how AVG is managing inventory and production • Globally, the wine landscape is evolving, as consumers shift their occasions and preferences away from traditional red wine toward lighter styles: white, rosé and sparkling varietals. • These changes are leading to
Slide 7: At a consumer level there is significant growth in wine
At a consumer level there is significant growth in wine. But the category must evolve to meet global consumer changes: format, flavour, sparkling and lighter is critical. Drinking less and differently Occasions are changing Preferences are shifting Moderation & convenience More social “connection” S
Slide 8: These shifting occasions call for different wine styles
These shifting occasions call for different wine styles and preferences - traditional heavy reds becoming less relevant in consumers lifestyles leading to industry oversupply MORE: • Sparkling • Rosé • Lighter styles
Slide 9: AVG is set up to succeed in these changing market dynamics
AVG is set up to succeed in these changing marketing dynamics: acquisitions and innovation key to AVG ongoing success and profitability • AVG continues to move aggressively into range and market expansion through acquisitions and innovation that better positions the business and portfolio for succes
Slide 10: AVG strategy is clear and unchanged
AVG strategy is clear and unchanged: hold and expand the core, grow premium through acquisitions / partnerships and drive accelerated growth into new occasions with innovation 1. Hold the core 2. Expand premium/light 3. Grow fast via innovation Traditional everyday Premium & lighter styles Lifestyle
Slide 11: 1 - Hold the core
1 - Hold the core: growing ahead of market in AUS and broadly in line with Aus Wine in UK. Cricket partnership is enhancing McGuigan’s loyal and engaged consumer base • McGuigan / cricket partnership driving growth and • McGuigan in line with other Australian commercial incremental ranging. wine who
Slide 12: 2 - Expand premium / lighter
2 - Expand premium / lighter Recent acquisitions and partnerships delivering combined incremental scan value of ~£18M annually for UK and Ireland business £10.5M MAT RRP £9 €3.19M MAT Sauv Blanc No. 1 SKU NZ Sauv Blanc No. 1 SKU £7.5M MAT, RRP £8 £5,793,845, +11% €1,397,317, +13% L52wks Shiraz £3,80
Slide 13: 3 - Grow fast via innovation
3 – Grow fast via innovation Recruiting new consumers globally into wine category via flavour, refreshment and format • Sold 2.8M units globally over 7,500 stores and 9+ markets, representing over 35,000 distribution points (In 5 Months). • Number 2 spritz range in • Scanning around 12,000 bottles/d
Slide 14: AVG has a clear global market expansion strategy
AVG has a clear global market expansion strategy, with AVG ahead/in line with growth in core markets and outperforming in new and emerging markets HOLD core markets GROW in key mature and emerging markets GROWING AHEAD HOLDING IN LINE In Progress GROWING AHEAD GROWING AHEAD ANZ Wine Category UK Aus
Slide 15: Asia and North America are going from strength to strength
Asia and North America are going from strength to strength, with traction gaining at pace: Poco Vino exceeding expectations in Asia and Lemsecco received award in USA • Lemsecco was named the winner of WSWA’s 2026 Hot, New, Now! Award at Access Live 2026!! • Lemsecco distribution launching in over •
Slide 16: Cash and net debt remains a priority for the business
Cash and net debt remains a priority for the business H1 cash flow impacted by working capital and global $m 1H26 1H25 $m innovation launches Total cash flow pre investments (23.9) (8.4) (15.5) Strategic Investment (10.7) (8.2) (2.5) Total cash movement (34.6) (16.6) (18.0) Total Cash out flow (pre
Slide 17: Free cash flow neutrality on track
Free cash flow neutrality on track with higher cash inflows for H2 Cash outflow H2 vs H1 • H2 on track to deliver free cash flow neutral for full year, excluding investments Cash neutral (excluding investments) • H2 benefitting from higher cash in flows from innovation and acquisition sales not full
Slide 18: Financial snapshot: H1 2026 vs prior year
Financial snapshot: H1 2026 vs prior year Profit & Loss 1H26 $m Movement $m change Revenue 124 -2 • P&L at half reflects one-off strategic investments setting the company EBITDAS - (11) up for future success and free cash flow and growth targets EBITS (8) (10) • Revenue flat for the half as innovati
Slide 19: Thank you
AUSTRALIAN VINTAGE THANK YOU