The shareholders’ meeting has reappointed the Board of Directors with the arrival of four new directors
Faenza, 18 December 2023 – The Caviro Group shareholders’ meeting approved thefinancial statements for the year ending 31 August 2023 in Faenza this morning. The Italian leader by market share in the wine sector, Caviro closed the 2022-2023 financial year with a consolidated turnover of 423 million euros, slightly up compared to last year and with stable financial indices (EBITDA of 33.2 million euros, NFP of 74.3 million euros). During the same meeting, the Board of Directors was reappointed with the arrival of four new directors and the reappointment of Carlo Dalmonte as president, a position he has held since 2012.
“Thanking the Shareholders’ Meeting for the trust it has placed in me – commented Chairman Carlo Dalmonte -, I would like to highlight the important work carried out in recent years by the Board of Directors and the contribution of the outgoing directors Maurizio Baldisserri, Raffaele Drei, Francesco Labbrozzi andGianfranco Ravaglia. I would also like to welcome the Group’s new directors, Giuseppe Alfino, Alberto Guerra, Alessandro Neri e Roberto Savini.
Despite the unforeseen events of the last year – the fire involving the Faenza site and the serious flood that affected the area – the Group has achieved positive results and underlined its solid foundations.”
The results of the 2022-2023 financial year were underpinned by the positive performance of Caviro Extra, the Faenza-based company that embodies the Group’s circular economy, and by exports, which produced a turnover of 143 million euros (+16% sull’anno precedente), over 103 million euros from the wine sector. Export growth was mainly driven by the effects on the UK market.
The investments sustainability, in support of the circular economy, model confirm the Group’s focus on innovation with the launch of projects connected with development contracts, including technical investments on the new automated warehouse at the Forlì winery and the start of an in-depth post-fire reorganisation process at the Faenza sitewhere Caviro Extra obtains noble products, energy and fertilisers from the by-products of winemaking. Despite the unusual circumstances, Extra emulated its positive performance of the last three years, confirming the strong market interest in the products made by Caviro’s circular economy and supporting the Group at a difficult time from a macro-economic point of view.
“It will take confidence and determination to deal with the very tricky domestic landscape,that has been caused by external market factors such as inflation, lower consumption and reduced production with peaks of more than 50% in some regions of our supply chain – added Dalmonte -. The future will be even more complex with implications for the coming year. However, the Group did all it could to tackle the challenges thrown its way during the year, as ever underlining the important work carried out by its members. The reorganisation represents a gear change and the beginning of a new chapter with a new executive team and the entire management committed to combating the effects of a negative trend“.
Dalmonte’s reference is to the new Management Boardfully operational from 1 September 2023, comprising Fabio Baldazzi, Giampaolo Bassetti and Valentino Tonini: “The Group’s approach in 2024 will be one of maximum prudence with a focus on cost containment and promoting the products of all production units, also in terms of sales price, on the market” concludes Dalmonte.
