Cantina di Soave distributed to shareholders over 52.5 million euros.
Cantina di Soave distributed to shareholders over 52.5 million euros.


Cantina di Soave distributed to shareholders over 52.5 million euros.

Soave - The shareholders approved the 2019/2020 financial statements, satisfied with Roberto Soriolo and Wolfgang Raifer, respectively President and General Manager of Cantina di Soave.

The results, despite the pandemic in progress, proved to be valid for the 2100 winemaking members who this year received an overall liquidation of the grapes equal to 52.5 million euros with an average profitability per hectare of over 9,000 euros.

The data in summary:

  • The Cantina di Soave Group closes the 2019/2020 financial statements with a consolidated turnover of 121 million euros and this despite the negative impact of Covid-19 which blocked the entire Horeca channel for months and the drop in prices that affected all the types: from table wines to DOC ones.
  • In terms of value, 58% of the turnover is determined by national sales and 42% by international sales . Foreign markets recorded an overall increase of 6%.
  • The balance between packaged and bulk sales was reconfirmed , respectively 54% and 46% of turnover. While the bulk has suffered a slowdown in withdrawals, the packaged has marked an increase of 19% in volumes and 7% in value, partially recovering the drop suffered by the bulk -12% in volumes. The data of the packaged product is very significant if we consider that the search for a greater weight of this type compared to the bulk has always been part of the company's strategies.
  • Within the bottled, a good breakdown emerges between brand sales and private labels, respectively 40% and 60% . Among the former, those with greater commercial strength are confirmed as Cadis, Maximilian, Rocca Sveva, Poesie, Settecento33 and Equipe5. All this demonstrates how the strategy of diversification of channels and the promotion of brands undertaken over the years by Cantina di Soave has once again proved effective in safeguarding its commercial positions and maintaining income.

• In terms of company capitalization, shareholders' equity increases and exceeds 65.8 million euros , against an operating cash flow of 8.2 million euros and an operating profit of over 500 thousand euros .

• The total contributions amounted to 72 million euros , while the liquidation destined for the remuneration of the grapes conferred by the winegrowing members amounts to 52.5 million euros .

«The sector is affected by the aftermath of the 2018 collection», explains General Manager Wolfgang Raifer , «whose abundance resulted in less revenues for the same volume sold. To all this was added a contraction in purchases in the main markets, exacerbated by the health emergency. Without forgetting that the significant increase in the area under vines in Veneto has led to a gradual increase in supply with inevitable consequences for sales prices. The pandemic then caused and will continue to cause changes that were unthinkable until a few months ago. These are transformations that we will find ourselves having to deal with almost daily. Furthermore, there have been radical changes in consumption that will also affect future habits. In the face of a collapse in sales in the horeca channel, there has been a boom in the same in the large-scale retail trade, where from January to November 2020 there is a 6% in the wine sector. This growth has translated into a good performance of sparkling wines and DOC wines. Consumers are increasingly favoring premium wines, in spite of first-rate wines. Cantina di Soave, thanks to the structure and commercial strategy it has adopted over the years, has managed to adapt quickly to the changes imposed by the market. The differentiation of the offer has allowed us to maintain commercial positions in the various market segments: modern and online channel. The performance of both our brand products (4%) and private labels (8%) is positive. Thanks to the investments in recent years, Cantina di Soave will in any case continue its growth path, guaranteeing shareholders a remuneration of the grapes above the market value and that of competitors ».

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