Viva Wine Group Ab · OMXSTO:VIVA
Viva Wine Group Ab — Q3 2025 Earnings Presentation
22 slides from Viva Wine Group Ab's earnings presentation, Nov 20, 2025
Slide 1: Quarterly Results Q3 2025
QUARTERLY QUARTERLYRESULTS RESULTS Q3 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 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 through 12 companies Sales in 11 markets through 3 platforms Nordic mar
Slide 5: Quarterly Update
QUARTERLY UPDATE
Slide 6: Q3 Performance Summary
Q1 PERFORMANCE SUMMARY Q3 PERFORMANCE SUMMARY Continued market share gains in the Nordics Net Sales of 1,487 (998) MSEK, an increase Net sales decreased by 1.0%. Organic of 49.0% growth of -0.9% (2,8) . Organic growth Strenthend Gross2.8% (5.8)21,2% (19,1) margin Adj. EBITA increased Adj EBITA margi
Slide 7: Transfer of listing process initiated - Nasdaq Stockholm Main Market
TRANSFER OF LISTING PROCESS INITIATED - NASDAQ STOCKHOLM MAIN MARKET The next step in our growth journey A quality stamp, increased visibility and improved share liquidity The very limited distribution issue of shares was part of this move to align with the mid cap profile - 3500 new shareholders
Slide 8: Financial Overview
FINANCIAL OVERVIEW
Slide 9: Strong growth in net sales
STRONG GROWTH IN NET SALES +49% Net Sales per segment 483 7 -1 0 1.487 Q3 2025 vs Q3 2024, MSEK 998 • Strong growth in Net Sales driven by Delta Wines • Organic growth of 2.8% (5.8). Growth in both segments Net sales B2B B2C Other Elim Net sales Q3 2024 Q3 2025
Slide 10: Higher adj EBITA
HIGHER ADJ EBITA +25% Adjusted EBITA per segment Q3 2025 vs Q3 2024, MSEK 28 -2 -2 0 123 • Adjusted EBITA increased vs PY, mainly 98 as an effect of the consolidation of Delta Wines. • Lower adjusted EBITA margin due to 9.9% lower GM % in Delta Wines. (The adjusted 8.3% EBITA margin for the underlyi
Slide 11: Net working capital & net debt
NET WORKING CAPITAL & NET DEBT - DEVELOPMENT ACCORDING TO PLAN Net Working Capital, MSEK Net Debt, MSEK Net Working Capital NWC/Net Sales RTM Net debt Net debt to EBITDA RTM 634 456 1 441 402 12.9% * 3.6x* 11.1% 615 10.1% 10.3% ** 519 3.0x** 1.7x 1.8x 2023-Q3 2024-Q3 2025-Q3 2023-Q3 2024-Q3 2025-Q3
Slide 12: Strong cash flow from operating activities
STRONG CASH FLOW FROM OPERATING ACTIVITIES Cash Flow Q3, MSEK 23 -11 -56 82 • Cash flow from operating activities was strong -12 100 • Cash flow from investing activities includes the business combination of 74 Vinguiden Nordic • Cash flow from financing activities includes repayment of term loans C
Slide 13: Performance by Segment
PERFORMANCE BY SEGMENT
Slide 14: B2B market development
B2B MARKET DEVELOPMENT Strong position in Europe Monopoly volume & market share development Continue to be the # 1 in Wine in the Q3 2025 Nordics at a level of 22.4% Market Viva Wine Group Viva MS% VWG Market share increased in all markets 22.4% -2.9% -1.9% (22.2%) Our B2B business in Europe is esti
Slide 15: Segment B2B – net sales and adj. EBITA development
SEGMENT B2B – NET SALES AND ADJ. EBITA DEVELOPMENT Net Sales increased by +57.4% vs Q3 2024. • Adj. EBITA increased vs Q3 2024 while the margin decreased. Main driver is lower GM % in Delta Organic growth of +2.0%. Wines and investments in opex. • The Nordic business adj EBITA margin was above PY Ne
Slide 16: Segment B2C – strong customer acquisition and organic growth
SEGMENT B2C – STRONG CUSTOMER ACQUSITION AND ORGANIC GROWTH Positive organic growth for the third quarter in a row. 7,9% in Q3 Increase in number of active customers vs Q3 PY – a trend shift New marketing channels led to 23% more first-time customer orders in 2025 vs. 2024 Outperformed the market in
Slide 17: Segment B2C – net sales and adj. EBITA development
SEGMENT B2C – NET SALES AND ADJ. EBITA DEVELOPMENT Organic growth of 7.9%. Adjusted EBITA% below Q3 2024 driven by increased investments in customer acquisition. Net sales +4.8% vs Q3 2024. Net Sales Adjusted EBITA margin +4.8% 154 161 12 11 7.9% 6.6% Q3 2024 Q3 2025 Q3 2024 Q3 2025
Slide 18: Final Comments
FINAL COMMENTS
Slide 19: Financial targets
FINANCIAL TARGETS GROWTH Organic sales growth, exceeding market growth Updated PROFITABILITY 8-10% Adjusted EBITA margin Updated CAPITAL STRUCTURE Net debt/ EBITDA ≤ 2.5x Unchanged DIVIDEND POLICY 50-70% of annual net profit Unchanged
Slide 20: Q3 Summary
Q3 Summary A significantly larger company B2C back on growth track M&A – continued steady deal flow Main Market listing in the near future
Slide 21: Q&A
Q&A
Slide 22: Quarterly Results Q1 2025
QUARTERLY RESULTS Q1 2025