Delegat Group (DGL) H2 2024 earnings summary

Executive summary

• Sales revenues reached $371.8m, up 1% year-over-year, with operating EBITDA up 7% and operating NPAT up 1%.

• Global case sales totaled 3.6 million, down 2% year-over-year, outperforming a 16% decline in NZ packaged wine exports.

• The group remains the top NZ wine exporter, with 96% of sales offshore and strong brand recognition in key markets.

Financial highlights

• Operating EBIT was $102.7m, up 6% year-over-year.

• Operating EBITDA reached $128.5m, up 7% year-over-year.

• Operating NPAT was $59.7m, up 1% year-over-year; reported NPAT fell 52% to $31.4m due to non-cash adjustments.

Outlook and guidance

• Forecasts global case sales of 3,585,000 for FY25 and operating NPAT between $55m and $60m.

• Expects 8% growth in case sales over the next three years, driven primarily by Oyster Bay sales in North America.

• Focus remains on improving case price realisation and continued investment in assets, brands, and people.