Terre Cevico grows in double figures: turnover 217 million euros (14.5%), exports 86 million (18%) | Budget 2022/23

Sixty years of history with an eye towards the future . They are those of Terre Cevico which closed the 2022/2023 financial year (01.08.2022 – 31.07.2023) with growth in aggregate turnover (14.5%) and exports (18%), confirming the Romagna cooperative group among the main Italian wine players. The presentation of the budget took place at the Goldoni Theater in Bagnacavallo during which the 2022/2023 Sustainability Report was also presented for the sixth consecutive year .

The numbers at a glance

Terre Cevico closes the 2022/23 year with an aggregate turnover of 217.2 million euros (group companies and basic cooperatives) for a growth of 14.5% compared to the previous year which closed with 189.6 million euros. Cevico's consolidated turnover is also growing, reaching 196.7 million euros, an increase of 17.1% compared to the previous year (167.9 million euros).

Above all , exports are growing, rising to 86 million euros, recording 18% on the previous year (72.9 million). Exports today have an impact of 43% on the group's revenues and places Cevico in third place among the best performing Italian companies in terms of increase in turnover. The Lugo group now operates in 69 nations with leadership in some areas such as China and Japan, and in the last six years it has seen exports double from 42.9 in the 2017/18 financial year to 85.9 million (100% ). The top three foreign bottled markets include Japan (5 million euros), China (2.23 million) and Russia (2.2 million).

Regarding the Italian channel, the market in large-scale retail trade is growing in value with 48.8 million euros (2.9%) and in the Horeca channel which is worth 12 million euros (25%).

Again with regard to the data of the last financial year , the net profit was 438.5 thousand euros , the aggregate net worth reached 86.9 million euros , while the surplus value for the shareholders - i.e. the value originating from the difference between the liquidations of the delivered products and the market price - amounts to 6.3 million euros for the 2022/23 financial year.

Assembly in Bagnacavallo

The data were presented in the budget meeting held at the Goldoni Theater in Bagnacavallo which saw the interventions of Marco Nannetti President of Terre Cevico, Massimo Gallina of the administrative management of Terre Cevico, Paolo Galassi of the General Management of Cevico, Alessio Mammi Councilor for Agriculture Emilia-Romagna Region and Simone Gamberini President of the National Legacoop. The day was opened by the mayor of Bagnacavallo Eleonora Proni, in the presence of Cristian Maretti President of Legacoop Agroalimentare, Daniele Montroni President of Legacoop Emilia Romagna, Paolo Lucchi President of Legacoop Romagna and Davide Ranalli Mayor of Lugo.

Cevico, from 1 January 2024 first level cooperative

Terre Cevico celebrates its 60 years and announces the beginning of an important new chapter in its history. This is a strategic reorganization and corporate reorganization project which was formally approved in the Extraordinary Meetings held on 8 October 2023 and which sees Terre Cevico change its status from cooperative consortium to first degree cooperative.

In his speech to the Assembly, President Marco Nannetti describes the reorganization: “ We will have the legal effects of the operation from 1 January 2024, it is an incorporation operation, by Terre Cevico, of the cooperatives Le Romagnole, Winex, Romagnole Due and the subsidiary companies Due Tigli, Enoica and Rocche Malatestiane. Seven companies that have therefore shared the simplification of their group structure to a single first level cooperative, a single shareholders' meeting, a single Board of Directors. A complete, compact, coordinated wine supply chain with the role of the partner as a further protagonist. As part of the project, the relationship with the shareholder Colli Romagnoli was confirmed and shared with whom the dialogue will continue also through the presence of two members in the new Board of Directors which will be legally effective from 1 January 2024".

On the sidelines of the Assembly, Cevico Vice President Franco Donati declared that "Cooperative efficiency, the valorisation of the territories and our vines such as Trebbiano and Sangiovese, investments in corporate brands, the fair and growing remuneration for the wine-growing members together with the control of investments and costs, represent for us the necessary and indispensable condition for sustainable growth and a future in which future generations can consider work in viticulture as an opportunity".

The Regional Councilor for Agriculture, Alessio Mammi, also spoke at the Assembly: " Producing quality wine, protecting the vineyards from the effects of climate change, promoting our products throughout the world: these are the three objectives we have set ourselves as the Emilia-Romagna Region. The numbers that characterize the wine sector – from Piacenza to Rimini – are truly significant. According to the latest available data, 8.2 million quintals of grapes were produced in the Region on 53 thousand hectares of vineyards, in approximately 16 thousand companies. Emilia-Romagna with its 30 designations of origin boasts a turnover of around 490 million euros for denomination wines and much larger volumes for the remaining regional production; in this context the Cevico group is one of the great protagonists of this quality supply chain, with its own production, from farm to table. The Region supports wine production with 25 million euros every year, in particular on 3 interventions: the restructuring and reconversion of vineyards, investments in cellars, the promotion of designation of origin wines towards non-EU markets (6 million euros) ”.

The day was closed by Simone Gamberini, National President of Legacoop: " Congratulations to Cevico not only for the numbers in its balance sheet but also for what it represents for the territory and its members. In a climate of general uncertainty, the only certainty is that to grow we need to invest and innovate. And that's what Cevico has done, facing 2024 with an important strategic organizational change by becoming a first-level cooperative. A choice that puts the member at the center and the relative added value given to him, central elements in the value of the cooperative supply chain. To face the challenges of the years to come, size is important on a social, environmental and economic level. Three elements that find synthesis in Cevico with an eye towards the next 60 years ".