The Board of Gusbourne is pleased to announce its audited results for the year ended 31 December 2024.
Highlights of 2024 Include:
- Net revenue up by 1.0% to £7.1m (2023: £7.1m) with mixed performance across the Group’s three main distribution channels:
- UK Trade sales down by 9% (2023: up by 13%) to £3.1m (2023: £3.5m)
- Direct to consumer (“DTC”) net revenue which includes tours and related cellar door operations in Kent, was up by 21% to £2.4m (2023: £2.0m)
- International sales down by 3% (2023: up by 7%) to £1.4m (2023: £1.5m)
- A five-year CAGR (compound annual growth rate) in net revenue of 34% (2023: 41%)
- Gross profit down by 3% to £4.7m (2023: £4.8m) with margin at 65.6% (2023: 68.2%)
- Adjusted EBITDA loss remained at £0.7m (2023: £0.7m)
- Ongoing success in international wine competitions with an impressive number of awards for its wines
Jonathan White, Chief Executive Officer, said:
“In 2024 Gusbourne strengthened its position as the one of the UK's most significant fine wine producers. The results have been achieved against a difficult macroeconomic environment, which resulted in challenging trading conditions for the luxury goods sector throughout the year.
Despite this backdrop, we have continued to see significant consumer demand for Gusbourne's wines, serving more B2B and B2C customers than ever before, and all underpinned by careful ongoing investment in the brand and the unwavering commitment and dedication of our talented team.”
Publication of Annual Report and Shareholder Information
Following the delisting from AIM, the Gusbourne Board has decided to stop producing paper copies of the Annual Report. In future, the Annual Report will be published and available electronically on the Company website: www.gusbourne.com/investors.
Going forward, the business plan to send emails, rather than letters, to all shareholders who wish to be kep informed about latest news. Therefore, all shareholders are encouraged to share their email address with Gusbourne via our investor email address: investorrelations@gusbourne.com.
Patrons Progamme
All shareholders are invited to join our Patrons programme. The Patrons programme is designed to keep shareholders connected to Gusbourne. We host several events each year, which provide shareholders with an opportunity to enjoy Gusbourne hospitality and meet with members of the Board. In addition, we offer our Patrons preferential pricing on a range of our market-leading and award-winning Gusbourne wines. If you are not a Patron and would like to join, please write an email to: patrons@gusbourne.com.
