Viva Wine Group reported a 21% year-over-year increase in net sales for Q2 2026, primarily due to acquisitions of Delta Wines and Alpha Brands. Organic growth, however, declined 3.7% as weak consumer sentiment weighed on the B2C segment.
The B2B segment, which includes Delta Wines and Alpha Brands, saw net sales rise 25% year-over-year, though organic growth in this segment fell 4%. Adjusted EBITA margin for B2B reached 7.6%, while the B2C segment reported an adjusted EBITA margin of 3.7%, down from the prior year due to increased marketing investments. The Nordic wine market contracted approximately 4% during the quarter.
Management maintained its full-year operating expense guidance at 11% to 12% of net sales. Gross margins are expected to face a 0.3% negative impact from higher freight costs in Europe. The company’s net working capital to net sales ratio stood at 9.0x, described by management as very strong, with a net debt-to-EBITDA ratio of 2.6x and a debt-to-equity ratio of 0.83.
Riesling Ventures announced a public takeover offer for Viva Wine Group on June 29, 2026, with an acceptance period ending August 28, 2026. The independent bid committee has recommended the offer. Emil Sallnäs, CEO, noted that Delta Wines and Alpha Brands performed well and confirmed the company’s market leadership in Nordic monopoly markets. Linn Gäfvert, CFO and Deputy CEO, stated that the company would focus on quarterly results during the call and not address the bid process.
Viva Wine Group’s stock rose 0.52% to 38.30 SEK in pre-market trading, with a 52-week high of 39.50 SEK and a low of 27.50 SEK. The company’s P/E ratio was 13.3, and its PEG ratio stood at 0.41.
