AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Australian Vintage is an ASX-listed winemaking, wine marketing and vineyard management firm
- The pillar brands segment accounted for 78% of the total revenue in FY23
- Allan Gray Australia Pty Ltd has the highest stake in AVG with a shareholding of nearly 21.76%
Australian Vintage Limited (ASX:AVG) is an Australian winemaker and marketer. Moreover, the company is engaged in vineyard management activities and also operates wineries and vineyards in multiple wine-producing regions across Australia. Headquartered in South Australia, the company manages a portfolio of global brands.
Sales revenue in the financial year 2023 (FY23) was in line with the previous year as it stood at AUD 258.6 million. The pillar brands segment accounted for 78% of the total revenue. Reported EBITDAS in FY23 dropped by 25% YoY to AUD 32.7 million. However, cash and cash equivalent skyrocketed by 176% YoY to AUD 6.9 million.
The yearly performance was backed by the continuous investment in a consumer-led approach to brands, marketing and innovation.
In July 2023, sales increased by 16% YoY, underpinned by the performance of the UK business, emerging markets and innovation.
Top 10 shareholders of AVG
The top 10 shareholders of AVG have around 55.25% shareholding in the company, while the top four have nearly 47.78% shareholding. Allan Gray Australia Pty Ltd and Vintage China Funds GP Ltd. have the highest stake in the firm with a shareholding of ~21.76% and ~14.23%, respectively.
Recent business update
On 22 November 2023, the company shared the AGM address details through ASX filing. The update was focused on AVG’s FY23 performance, outlook for FY24 and initiatives undertaken to strengthen the business.
In FY23, the company managed to maintain its revenue despite the tough external operating environment. During the latest financial year, the focus was on adding new geographies for the brand, continuous investment in marketing, undertaking premiumization and innovation and other initiatives to boost the business.
Outlook
In FY24, the company expects to see improvement in the underlying NPATS and EBITDAS. AVG said that it will remain committed to investing in innovation, brands and premiumization. Also, it is seeking geographical expansion, higher margins and more diverse businesses and initiatives to advance ESG strategy.
Share performance of AVG
AVG shares closed 3.61% lower at AUD 0.4 apiece on 23 November 2023. With this, AVG’s share price has dropped by 37.98% in the past one year and has fallen by 17.52% in the last six months.
The 52-week high of AVG is AUD 0.68, recorded on 21 November 2021, while the 52-week low is AUD 0.345, recorded on 25 September 2023.
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 23 November 2023. The reference data in this report has been partly sourced from REFINITIV.
Disclaimer
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