Increased Sales Volumes for IWB in the first half of 2020
The Group’s growth trend continues in the first half of 2020 with strong growth in sales, margins and profits. Italian Wine Brands (IWB) grows both internally and on international markets by increasing sales volumes on all channels, most of all on large retail chains and direct distribution.
During the first half of 2020 the Group’s consolidated revenues reached €92.2 million, compared to €70.1 million in the first half of 2019. This result was achieved through the organic development of the group’s activities and the acquisition of Raphael from Bo AG, which was completed at the beginning of 2020.
Sales of IWB strengthened on international markets where sales amounted to €72.6 million and on the domestic market, with €19.3 million.
The wholesale distribution channel confirms itself as the main contributor of the Group’s revenues, accounting for 54.9%.
The results are mainly achieved thanks to the expansion and extension of the own brand product portfolio, which today accounts for more than 90% of the channel’s sales.
The group’s operating margin has increased significantly compared to past years. In particular, restated EBITDA of the first half of 2020 reached €10.7 million.
Alessandro Mutinelli, Chairman and CEO of the Group, declared: “During this six-month period we recorded the best results in the history of the Italian Wine Brands Group. All our sales channels have grown, and we have made the first major acquisition””