Naked Wines Plc (NWINF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everyone and thank you for joining us today to go over a half year results presentation. I'm Mazza and I took on the CEO role at the start of this financial year. I'll be joined by Dominic Neary, who joined Naked a month ago as our CFO. Welcome to the team, Dom. Would you like to introduce yourself? Thanks a lot, Mazza. Yes, I am very happy to be here. I've been here a month already, although it seems a lot longer. I think there are two things that jumped out at me when I joined this company and have done in the past month. And I think the first is the people. I don't think I've met a team with such passion and integrity for what they do. And so a big thank you to everybody who's welcomed me. And secondly, it's a great product. It really is an interesting product. And that integrity word comes up again, both from our winemakers and how our business model works. So, yeah, those are the two things that have jumped out to me so far. Really enjoyed my first month and looking forward to many more years. Mazza, over to you. Thank you, Don. We've broken the presentation into three sections. Don will share how we've secured robust financial foundations for the company. I'll share the latest regarding our strategic initiatives and our testing program. And finally, we'll share our view regarding the output. Over to you, Dom. Thanks a lot, Mazza. So, on to our financial performance. I think the first thing to say is that our performance is in line with guidance. So, revenue is down, but that's where we expect it to be, and that broadly follows the membership movement. The next point to come to is the G&A. As expected, that's down by nearly 3 million, reflecting the savings programme we implemented in FY24. There's a £400,000 one-off LTIP charge related to the cancellati...