Turnover down, but profitability and net financial position up: Caviro’s balance sheet

The wine market is not prospering, consumption is declining, and for those who work in large numbers, this is a glaring reality. But by working wisely and forward-looking, and diversifying the business, one can see profitability grow even with declining sales. As Caviro Group, one of Italy's largest wine cooperatives (11,000 winemakers in 7 regions of Italy, for 37. 500 hectares of vineyard area), with its heart in Romagna, and the signature of one of the most famous and widespread brands such as Tavernello, among others, which compared in a 2023-2024 consolidated turnover of 385 million euros, down on 2022-2023 (to 423 million euros, ed.) saw a 3.4% growth in Ebitda, to 34.3 million euros, and in the net financial position, to 80.3 million euros (from 74.3 last year). So resolved the Shareholders’ Meeting, which, today in Faenza, approved the financial statements for the year ended August 31, 2024, of what is the leading Group in Italy by market share in the wine sector.
“The Group, in confirming its income-generating capacity, has seen a management rebalancing between the “Wine” and “Matter and Bioenergy” sectors, which sees it engaged in the transformation of waste from the Italian agribusiness supply chain into new secondary raw materials and high value-added products that complement Caviro’s circular economy model”, a note explains.
“The year that has just ended”, comments Caviro president Carlo Dalmonte, “was one that saw Caviro engaged in several challenges, with the main one, peculiar to the cooperative mission of the consortium, being to put the social base in a position to recognize an adequate income to winemakers. With this in mind, the Group, thanks to its capital strength and the prudent policies adopted in previous years, has approved financial statements that aim to protect Caviro and its subsidiaries from the repercussions associated with the volatility of the markets in the “Matter and Bioenergy” sector and to hedge risks to its supply chain outside the social base”.
The results for the fiscal year 2023-2024, the note further explains, were marked by the positive performance of the parent company, Caviro Sca, which through market repositioning initiatives and a careful cost management policy increased its profitability, thus enabling the general rebalancing of the Group’s ability to generate income and to offset the contingent negative impacts involving the “Matter and Bioenergy” sector. The Shareholders’ Meeting announced the renewal of the Board of Directors of subsidiary Caviro Extra, with Carlo Dalmonte reappointed as chairman and Valentino Tonini as managing director, who was appointed during the year last May.
“Several interventions have been made in the “Matter and Bioenergy” sector”, commented CEO Valentino Tonini, “with a particular focus on the subsidiary Caviro Extra, both in terms of investments and in the organizational sphere. During the year, we initiated the multi-year investment plan that will redefine the Faenza production site, increasing its industrial synergies in the by-products of the wine supply chain and further enhancing the circular economy model. Within the managerial structure of this sector, also in implementation of the reorganization process initiated in the previous fiscal year, new top management figures have been included with the aim of increasing the effectiveness and oversight of business management”.

Encouraging figures for the Group's wine operations, the result of product repositioning initiatives that have improved margins despite a decline in sales volumes. The Group has defined a 5-year strategic plan focused on worldwide distribution expansion and value creation.
“Consistent with the defined strategy, the wine division has been reorganized, evolving into two assets”, added Giampaolo Bassetti, managing director of Caviro Group. On the one hand, Cantine Caviro, with all the brands that are the highest expression of the winemaking members, from North to South. On the other, Tenute Caviro, created with the aim of enhancing the realities rooted in the most vocated areas of Italy and under whose umbrella fall to date the territories of Chianti and Valpolicella, where the Group boasts proprietary companies with subsidiaries Leonardo Da Vinci Spa and Gerardo Cesari Spa”.
The year that is coming to an end was also important in terms of technical investments aimed at production process efficiency, energy savings and ecological transition. “In 2024 Caviro Sca grounded a number of projects united by a high level of innovation and in line with our commitment to ESG. A further step”, Bassetti concludes, “toward a safe, efficient and sustainable production model, in accordance with Caviro Group’s historical commitment to the circular economy”.