TIDMGUS
RNS Number : 3246O
Gusbourne PLC
31 January 2023
31 January 2023
Gusbourne Plc
("Gusbourne" or the "Company")
Trading Update
Significant sales growth delivered in 2022
Gusbourne Plc (AIM: GUS), the premium English sparkling wine
producer, is pleased to report the following unaudited trading
update for the 12 months to 31 December 2022, reflecting another
strong year of performance for the Company.
Financial Highlights
-- Net revenue (1) for the year ended 31 December 2022 is
expected to be up by 48% (2021: 95%) to c. GBP6.2m (2021: GBP4.2m,
2020: GBP2.1m and 2019: GBP1.7m), reflecting continued robust sales
growth across our three main channels (3) .
o Direct to consumer (DTC) net revenue grew by over 20% to
c.GBP1.7m driven by online sales and cellar door operations in
Kent, representing c.27% (2021: 33%) of net revenue for the year.
Revenues from Experiences(2) have increased by c.70% compared to
2021 and our Gusbourne Reserved customer base increased by over
45%.
o UK Trade sales grew by over 55% to c.GBP3.0m, as the industry
had its first full year without COVID-19 restrictions. UK Trade
sales represent c.49% (2021: 47%) of net revenue. The Company has
established new trade accounts across premium hotels and
restaurants to support the Gusbourne brand.
o International sales grew by over 75% to c.GBP1.4m and are
expected to account for c.22% of total net revenue (2021: 19%).
-- Net debt at 31(st) December 2022 is expected to be approximately GBP12.5m.
-- The Company continues to trade in line with market expectations.
Operational Highlights
-- During 2022, the Company purchased a further 55 hectares of
new land, increasing the total amount of freehold land to 196
hectares. The Company expects that most of this land will be
planted with new vineyards over the coming years to further
strengthen its growth platform.
-- Gusbourne has introduced several new wines during the year,
including the critically acclaimed Fifty-One Degrees North luxury
sparkling wine.
-- Gusbourne remains one of the most globally recognised English
sparkling wine producers, with distribution in over 30
international markets.
-- During 2022, the Company received a record number of awards
for its wines, winning more gold medals and trophies than ever
before. Highlights include:
- Four trophies, including retaining Estate Winery of the Year at the Wine GB awards
- Collecting the Vintage English Sparkling Wine Trophy at this
year's International Wine Challenge, along with eleven other
medals
- Thirteen medals, including two golds, at the Decanter World Wine Award
- Five gold medals at the Champagne and Sparkling Wine World Championships
- Blanc de Noirs and Blanc de Blancs of the Year in the England 2022 Special Report
- Two Editor's Choice listings in Wine Enthusiast and four wines scoring over 94 points
- A Judges' Selection and Platinum award at the Texsom Awards in the USA
Charlie Holland, Gusbourne's CEO and Chief Winemaker
commented:
"I am pleased to report another excellent performance in 2022,
including a good Christmas period. Despite a challenging
macroenvironmental backdrop, we have continued to see significant
consumer demand for Gusbourne wines, reflecting the luxury status
of the Gusbourne brand and the underlying growth of the dynamic
English wine sector.
We have seen strong revenue growth across all our sales
channels, both in the UK and internationally, as the quality of
Gusbourne's wines continue to gain praise and critical recognition,
further cementing our excellent reputation.
With these results, a fantastic harvest in 2022 and further land
purchases made during the year, the Board continues to look to the
future with great confidence as we further strengthen our position
as one of the UK's most significant fine wine producers."
(1) Net revenue is revenue reported by the Company after excise
duties payable
(2) Experiences includes guests who visit our Cellar Door, The
Nest, for a vineyard tour and wine tasting experience, as well as
sales of experience gift vouchers.
(3) In addition, GBP0.1m Other Revenue
For further information contact:
Enquiries:
Gusbourne Plc
Charlie Holland +44 (0)12 3375 8666
Phil Clark, Investor Relations
Panmure Gordon (UK) Limited (Nomad and
Sole Broker)
James Sinclair-Ford + 44 (0)20 7886 2500
Hugh Rich
Media:
Kate Hoare (Houston)
gusbourne@houston.co.uk +44 (0)20 4529 0549
Note: This and other press releases are available at the
Company's website: www.gusbourneplc.com
This announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 as
amended by regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement,
this information is now considered to be in the public domain.
Note to Editors
Gusbourne produces and distributes a range of high quality and
award winning vintage English sparkling wines from grapes grown in
its own vineyards in Kent and West Sussex.
The Gusbourne business was founded by Andrew Weeber in 2004 with
the first vineyard plantings at Appledore in Kent. The first wines
were released in 2010 to critical acclaim. Following additional
vineyard plantings in 2013 and 2015 in both Kent and West Sussex,
Gusbourne now has 93 hectares of mature vineyards. The NEST visitor
centre was opened next to the winery in Appledore in 2017,
providing tours, tastings and a direct outlet for our wines.
Right from the beginning, Gusbourne's intention has always been
to produce the finest English sparkling wines. Starting with
carefully chosen sites, we use best practice in establishing and
maintaining the vineyards and conduct green harvests to ensure we
achieve the highest quality grapes for each vintage. A quest for
excellence is at the heart of everything we do. We blind taste
hundreds of samples before finalising our blends and even after the
wines are bottled, they spend extended time on their lees to add
depth and flavour. Once disgorged, extra cork ageing further
enhances complexity. Our winemaking process remains traditional,
but one that is open to innovation where appropriate. It takes four
years to bring a vineyard into full production and a further four
years to transform those grapes into Gusbourne's premium sparkling
wine.
Gusbourne's luxury brand enjoys premium price positioning and is
distributed in the finest establishments both in the UK and abroad.
Our wines can be found in leading luxury retailers, restaurants,
hotels and stockists, always being aware that where we are says a
lot about who we are.
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END
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