Viva Wine Group reported a 21% increase in net sales to 1.62 billion Swedish kronor (MSEK) for the second quarter of 2026, driven by acquisitions despite a 3.7% organic revenue decline. The company’s Q2 results, presented on August 20, highlighted the contrasting performance between its B2B and B2C segments amid a 4% contraction in the Nordic wine market.
Adjusted EBITA rose to 108 MSEK from 102 MSEK a year earlier, though the margin compressed to 6.7% from 7.6%. Operating cash flow strengthened to 51 MSEK, up from 22 MSEK, while the net debt-to-EBITDA ratio improved to 2.6x from 4.1x. The cash position increased to 111 MSEK by quarter-end, following a 72 MSEK dividend payment.
The B2B segment, which accounts for the bulk of revenue, saw net sales climb 25% to 1.46 billion MSEK, though organic growth fell 4.0%. Adjusted EBITA in this segment rose to 111 MSEK, with management attributing 289 MSEK in sales and 20 MSEK in EBITA growth to recent acquisitions. The B2C segment, however, reported a decline in net sales to 162 MSEK and a drop in adjusted EBITA to 6 MSEK, with margins falling to 3.7% from 6.6%.
Chief Executive Emil Sallnäs emphasized the company’s market leadership in Nordic monopoly markets, citing strong performance from Delta Wines and Alpha Brands. Chief Financial Officer Linn Gäfvert noted that April and May were particularly weak due to Easter timing, while June showed improvement. She maintained full-year operating expense guidance of 11% to 12% of net sales and flagged Q2 as a higher-cost quarter due to seasonality and one-time takeover expenses.
Viva Wine also confirmed a public takeover offer for Riesling Ventures, announced on June 29, with the acceptance period set to close on August 28. The company’s share price rose 0.52% to $38.30, within a 52-week range of $27.50 to $39.50.
