(Finance) – Cavita wine cooperative that unites 11 wineries in Trentino, has closed thefinancial year 2022-2023 (in May 2023) with a sales equal to 267.1 million euros, a slight increase (+0.9%) compared to last year. Regarding the results of the parent company Cavit Sc, after the exceptional nature of the 2020-2021 financial year (which had marked a surge of +20% compared to the previous year during the lockdown), the turnover – as expected in the budget – recorded a limited contraction (-1.9 %). Results which still remain higher than the pre-pandemic period (+14% compared to the 2019-2020 financial year).
The turnover of German subsidiary Kessler Sekt & Co KG. – the oldest sparkling wine producer in Germany – closed with 13 million euros (+10% compared to the previous year) and a net worth of 4.9 million euros.
There net financial position remains largely positive, with 24.5 million euros, above the pre-covid figure (financial year 2019/2020), which was followed by the two-year period of notable increase in turnover 20/21 (+ 20%), achieved by the parent company Cavit , a figure confirmed in the following financial year, which increased the consistency of the NFP in the previous two years.
L’export continues to represent more than 76% of the turnover, despite a context in which all the main importing countries have recorded a general decline in demand. In the United States, as last year, the Cavit brand continued to react better than the market, with a +1.9% in value compared to the market average of -1.9%. Italy, the second outlet market for the Cavit Group after the United States, continues to represent 24% of the consolidated market.
“We can be satisfied with the level of payments that we have been able to guarantee to the associated wineries this year too, despite the decline in consumption and the strong impact of energy and raw material costs”, commented the president Lorenzo Libera.
(Photo: Hermes Rivera on Unsplash)