Delegat Group is a global wine industry success story. Delegat has achieved 22-fold growth since 2002 and is now the number one exporter of New Zealand wine to the world. The company has established Oyster Bay as a leading global Super Premium wine brand and owns Barossa Valley Estate in Australia. Delegat’s global team of 450 work hard to achieve the extraordinary and excel on four key success factors; world famous brands, global distribution, super premium quality and exclusive vineyard supply.
The following information was extracted from Delegat Group Limited's HY24 results, released on 23 February 2024:
HY24 summary
Delegat Group (NZX: DGL) has released its interim results today, announcing an operating net profit after tax of $37.8 million for the six months ending December 2023 (HY24).
The NZX-listed wine maker and exporter achieved global case sales of 1.92 million cases over the sixmonth period, generating operating revenue of $198.6 million, consistent with the previous corresponding period. Managing Director Steven Carden said these were pleasing half-year results for the Group in the context of current global economic conditions.
“Despite the resetting of inventories by retailers and distributors in major markets during this period we delivered a solid sales performance,” Carden said. “We are seeing strong growth in the key US market through scan data, which is not reflected in the interim result due to the inventory resetting trend. We achieved 6.4% growth in consumer sales over the last six months in the US.”
Delegat remains the number one exporter of New Zealand wine, with over 95% of its wine sold offshore year to date. The Group has implemented price increases globally, helping to maintain yearon-year operating revenue.
Delegat maintained operating EBITDA of $74.8 million, up 1% on HY23. With its distribution channels and world-class viticulture and winemaking assets already providing strong foundations for growth, the Group has focused its investment on consumer marketing to drive awareness and affinity. The Group’s global marketing programmes delivered over 700 million consumer impressions online in the six months to December 2023, a 45% increase on HY23.
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