Latest news with #AustralianVintage
Yahoo
23-05-2025
- Business
- Yahoo
Wine group Australian Vintage buys international rights to MadFish brand
Wine company Australian Vintage has acquired the international ownership rights to the MadFish brand from local group Burch Family Wines. In a stock-exchange filing, Australian Vintage described the deal as "strategically important" to the company in the UK, offering a counterpoint to its flagship McGuigan brand. 'It provides a scalable – over 200,000 cases – balance to red-wine centric McGuigan and gives the portfolio a much-needed lighter varietal range,' the group added. Australian Vintage is also taking over the distribution of Burch Family Wines' Howard Park Wines in the UK, Ireland, Europe and Canada. Burch Family Wines will maintain the ownership and distribution rights for MadFish and Howard Park brands in Australia. Australian Vintage CEO Tom Dusseldorp, who was appointed last month, said both brands 'will complement Australian Vintage's existing stable of award-winning labels, providing increased volume and value without increased overhead'. Jeff Burch, CEO of Burch Family Wines, added: 'Australian Vintage's global customer relationships, distribution, bottling and network are world class and we are confident they can accelerate both MadFish and Howard Park's presence across the globe.' The two companies will also form a long-term sourcing and processing partnership to 'to ensure continuity of quality as the MadFish brand grows', Australian Vintage said. In addition to the MadFish agreement, Australian Vintage has upgraded its net-sales forecast for its new Poco Vino brand from A$8m ($5.2m) to 'conservatively' over A$10m, citing more than 4,000 confirmed distribution points for its launch. Australian Vintage is launching Poco Vino brand in the UK in July and in Australia in October. Meanwhile, Australian Vintage expects growth for its Lemsecco brand, projecting an additional 80,000 cases to be sold in its 2026 financial year. However, the company cautioned that group sales are forecast to decline by 3% in its 2025 financial year. It pointed to a subdued market and a lack of "significant innovation" during the current financial year. In February, Australian Vintage reported a 7.4% drop in first-half revenue to A$126.1m and an 11% decline in gross margins to A$35.4m for the six months to 31 December. Reported EBITDAS fell 22.7% to A$11.2m, while underlying EBITDAS dropped 20% to A$13.2m. Underlying EBITS declined A$2m to A$6m and the group swung to a net loss of A$473,000 from a A$2.8m profit a year earlier. "Wine group Australian Vintage buys international rights to MadFish brand " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Several Insiders Invested In Australian Vintage Flagging Positive News
When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Australian Vintage Ltd's (ASX:AVG) instance, it's good news for shareholders. While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. The Non-Independent Non-Executive Director Elaine Teh made the biggest insider purchase in the last 12 months. That single transaction was for AU$100k worth of shares at a price of AU$0.13 each. That means that an insider was happy to buy shares at above the current price of AU$0.092. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. While Australian Vintage insiders bought shares during the last year, they didn't sell. They paid about AU$0.15 on average. These transactions suggest that insiders have considered the current price attractive. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction! View our latest analysis for Australian Vintage Australian Vintage is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data indicates that Australian Vintage insiders own about AU$4.0m worth of shares (which is 13% of the company). But they may have an indirect interest through a corporate structure that we haven't picked up on. We do generally prefer see higher levels of insider ownership. There haven't been any insider transactions in the last three months -- that doesn't mean much. However, our analysis of transactions over the last year is heartening. We'd like to see bigger individual holdings. However, we don't see anything to make us think Australian Vintage insiders are doubting the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Australian Vintage is showing 2 warning signs in our investment analysis, and 1 of those shouldn't be ignored... Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
29-04-2025
- Business
- Yahoo
Australian Vintage names new CEO
Australian Vintage has promoted chief commercial officer Tom Dusseldorp to CEO. Dusseldorp succeeds Craig Garvin, who 'repositioned and stabilised the company after a difficult 2024' the publicly listed Australian Vintage said today (29 April). The McGuigan Wines and Tempus Two owner re-appointed Garvin as chief executive last October just five months after ending his contract. In May last year, Australian Vintage announced its board had fired Garvin as CEO 'for engaging in conduct that, in its view, displayed a lack of judgement and was inconsistent with the values of the company and the high standards expected of its chief executive officer'. Following his departure, non-executive director Peter Perrin stepped in as acting CEO while the search for a permanent successor was underway. Perrin's interim leadership concluded with his stepping down in August after a cancer diagnosis. Australian Vintage chairman James Williamson then stepped in to take the role. When Garvin was re-appointed, Margaret Zabel, the chair of Australian Vintage's people, remuneration and nomination committee, said: 'Craig has demonstrated his ability to create an effective high-performing team, build a strong culture, and develop enduring relationships with customers and other stakeholders. 'He is the right person to take Australian Vintage forward and we are looking forward to working with him to create value for our shareholders to deliver great wine brands to our customers.' Williamson said today: 'The board appreciates the transformational leadership that Craig has brought to Australian Vintage for many years. 'He returned last year to support the board with a plan to stabilise the company during a difficult 2024 and ensure we had a first-class leadership team in place for the longer term. We are now better positioned as a result of his leadership, including having a clear succession plan in place.' Williamson added: 'We are fortunate to have an exceptional leadership team at Australian Vintage and it's very pleasing to have Tom step up as chief executive.' Dusseldorp joined Australian Vintage in 2022. His career includes roles at Pernod Ricard and Australian food and drinks group Noumi. He said: 'On the back of Craig's leadership over recent months, we now have the opportunity to double down on our work to deliver sustainable, positive cash flow through targeted investments in innovation and brands for accelerated revenue growth.' In Australian Vintage's 2023/24 fiscal year, the company's revenue rose 1% to A$261m ($175.7m). Underlying EBITS was up 24% at A$13m and underlying NPATS grew 29% to A$5m. However, the company saw posted a loss of A$93m. In February, Australian Vintage reported its financial results for the first six months of its fiscal year, a period that ran to 31 December. Revenue dropped 7.4% to A$126.1m, while gross margins were down 11% at A$35.4m. However, the group said its first-half figures marked its 'best cash performance in four years', with normalised cash outflow improving by A$11m, compared to the same period in 2023, to A$8m. The group saw declines in reported and underlying EBITDAS, with the former dropping 22.7% to A$11.2m and the latter decreasing 20% to A$13.2m. Underlying EBITS dropped A$2m on the year prior to A$6m 'reflecting focus cost out performance while navigating challenging industry-wide trading conditions', the group said at the time. Australian Vintage booked an A$473,000 net loss, compared to a net profit of A$2.8m in the corresponding period a year earlier. Garvin said today: 'This is the right time to pass the baton to the next generation of leadership at Australian Vintage. I came back to the company to support James and the board in setting a clear direction to restore shareholder value. I am very pleased to see our succession plan come to life with Tom Dusseldorp appointed as chief executive.' "Australian Vintage names new CEO" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
28-02-2025
- Business
- Yahoo
Australian Vintage unveils new wine range amid mixed half-year results
Australian Vintage has launched a new wine range alongside the release of mixed half-year results for its fiscal 2025. In the first six months ended 31 December, the McGuigan wines producer saw reported revenue drop 7.4% to A$126.1m ($79.7m), while reported gross margins were down 11% at A$35.4m. However, the group said its first-half figures marked its "best cash performance in four years", with normalised cash outflow improving by A$11m, compared to the same period in 2023, to A$8m. Mixed into the results, Australian Vintage revealed plans to launch a range of wines under the Poco Vino brand, which uses a "make where sold" sourcing framework. The "format-based wine innovation" will look to deliver "significant cost efficiencies whilst aligning with consumers' willingness to pay a higher price", The Shy Pig brand owner said. In Europe, the wine sourced for Poco Vino will come from France and Italy, while in the US it will come from Napa, California. For the group's Asia-Pacific market it will be sourced from Australia. Australian Vintage was unable to provide further information on the range when asked by Just Drinks. Commenting on the new range, CEO Craig Garvin said: "Early orders are extremely encouraging and ahead of expectation. Major UK and Australian retailers have agreed to range the product, which is set to launch in the 2025 calendar year." He said the group was expecting Poco Vino pre-orders for FY26 to hit more than A$8m, making the range "the most exciting launch in AVG's history". Garvin added: "We continue to pursue partnership, consolidation and acquisition opportunities to premiumise our portfolio which will be fully funded through non-core asset sales." In its first half period, Australian Vintage booked an A$473,000 net loss, down 117% on reported net profits of A$2.8m in the same period in 2023. The group also saw declines in reported and underlying EBITDAs, with the former dropping 22.7% to A$11.2m and the latter decreasing 20% to A$13.2m. Underlying EBITS dropped A$2m on the year prior to A$6m "reflecting focus cost out performance while navigating challenging industry-wide trading conditions", the group said. Australian Vintage also maintained market share in the UK, Australia, New Zealand in the period, showing "the underlying strength of the business despite the industry navigating difficult market conditions". The Tempus Two owner revealed a revised sales strategy in August as it looked to boost cash flow and return on capital. Earlier in 2024, the business had been looking to raise capital and lower its debts, through efforts which included a share offer and asset sales. Garvin was reappointed as CEO in October just five months on from ceasing his contract. Australian Vintage chairman James Williamson said at the time that "the board felt it was important for Craig to be involved in the search process'. Margaret Zabel, the chair of Australian Vintage's people, remuneration and nomination committee, also then said Garvin: 'has demonstrated his ability to create an effective high-performing team, build a strong culture, and develop enduring relationships with customers and other stakeholders. 'He is the right person to take Australian Vintage forward and we are looking forward to working with him to create value for our shareholders to deliver great wine brands to our customers.' In its fiscal 2024, Australian Vintage saw its revenue grow 1% to A$261m. Underlying EBITS increased 24% at A$13m and underlying NPATS grew 29% to A$5m. However, the company saw a steep drop in statutory net profit, having declined 2,421% compared to the previous year, posting a loss of A$93m. "Australian Vintage unveils new wine range amid mixed half-year results" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
