Allegrini 2024

Tavernello, the most consumed Italian wine in the world, drives Caviro’s revenue to 417 million euros

Growth of +7.1% in 2021-2022 for the largest wine cooperative in Italy, thanks to exports and the circular economy
Simon Pietro Felice and Carlo Dalmonte, general manager and president of Caviro

Among the most prestigious labels, brands, and territories in the world, the most consumed Italian wine, both nationally and internationally, is still today a popular icon like Tavernello, the brick wine, and Caviro’s flagship brand, born in 1983 and has now become a true symbol of Made in Italy wine. Capable, in its first 40 years (celebrated, as we have said, with a new TV spot), of guiding the growth of what is the largest wine cooperative in Italy - with 12,000 winegrowers and a total of 36,000 hectares of vineyards, for 27 member wineries coordinated by a team of 50 oenologists - which closed the 2021/2022 fiscal year (as at 31 August 2022) with a consolidated turnover of over 417 million euros, and an increase of 7.1% on the previous year, mainly thanks to exports and the circular economy.
Caviro’s results enabled the Group to further consolidate its structure, increasing the equity to 136 million euros (+10.7% on 2021) and approving a positive balance sheet with a total profit of 9.6 million euros. Ebitda was also good, at 36.2 million euros, equal to 8.7% of turnover, while the Net Financial Position, at 73.8 million euros, increased on last year mainly thanks to investments in the circular economy and sustainability.
As expected, the Group’s export results are good, with a total turnover of 123 million euros in over 80 countries worldwide, beginning with the reference markets of the United Kingdom, the United States, Switzerland, Germany, and France. The results of Caviro Extra, the company that implements the Group’s circular economy by transforming the by-products of winemaking into alcohol, noble products, energy, and fertilizers, were also positive. Indeed, it confirmed the Cooperative’s excellent performance over the previous three years and supported it during a difficult macroeconomic period.
“The investments made in terms of sustainability in support of our circular economy model have also rewarded us in the 2021/2022 fiscal year”, comments Carlo Dalmonte, president of Caviro. “A proclivity for continuous innovation, which we confirmed this year with heavy investments in the Legàmi di Vite project, the development contract (which focuses on strengthening the processing and recovery of by-products, energy efficiency, and the construction of new purifiers) that we presented as a lead partner alongside 9 other wineries in the Region and which envisages total investments of over 90 million euros and an employment impact of around 70 people”.
The scenario for the current fiscal year, on the other hand, is more uncertain due to a sharp increase in energy and raw material costs, which is expected to affect operating margins. “The indiscriminate increase in production costs has also resulted in a significant contraction in consumption, and all channels in the wine world, from large-scale distribution to Horeca, are showing signs of recession”, highlights Caviro CEO, SimonPietro Felice. “A difficult situation that we fear will soon also affect the other markets in which we are present with the Caviro Extra production. Our approach to 2023 will thus be prudent, with a focus on cost containment and reduction, as well as maximizing the value of our products on the market, including in terms of selling price”.

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