Viva Wine Group AB (VIVA) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to our Q1 2025 presentation. My name is Emil Sahlnes and I will, together with our CFO, Lynn Gavert, present today. This is the agenda for today. Due to our acquisition of Delta Wines, which was communicated earlier today, the format will be slightly different. We will start with our customary Q1 presentation before moving on to a presentation of Delta Wines and then ending with some final remarks and a Q&A. So now let's move on to the Q1 update and our performance summary. In the quarter, we continue to report increased market shares in the Nordics, which extends our streak to 14 straight quarters of increased market shares in the Nordics, a great achievement by our Nordic companies. Net sales were significantly affected by the timing of Easter, which this year fell entirely in April. As a result, net sales declined by 1% with an organic growth rate of negative 0.9% compared to the same period last year. We continue to deliver on gross margin, which was strengthened compared to prior year with over two percentage points to 21.2%. Due to lower sales and our step up in OPEX communicated last quarter, adjusted EBITDA for the quarter decreased to 5.5% compared to with 6.3% last year. Now let's look into the details of the financial performance and I will hand over the word to Lin. Thank you, Emil. We have a small negative sales growth of 1% for the group, and we closed the quarter slightly below last year. The decreased compared to the same quarter in 2024 was expected due to timing of Eastern. Easter sales will not be visible until the second quarter. Group organic growth slightly negative with 0.9%, as Emil mentioned. And to mention again, Viva Wein Group performed better than the monopoly markets. All countries in segment Nordic also...