The Board of Directors of Italian Wine Brands SpA (IWB) has approved the consolidated revenues on an annual pro-forma basis for a total of Euro 430.4 million (+5.2% on 2021). The results achieved position the Group as the main non-cooperative player of Italian wine by size.

The revenue growth dynamic was determined by the M&A transactions completed by the Group during the year: Enovation Brands Inc. and Barbanera. "In particular, with the acquisition of Enovation, IWB intended to fully incorporate its direct presence in the supermarkets and on the ho.re.ca. channel of the US and Canadian markets, the most important for Italian wine", reads a IWB note.

With the acquisition of Barbanera, the group has instead increased its offer of premium wines - with particular reference to the ho.re.ca channel. up to now less penetrated – and reached a direct presence in Tuscany with its own cellar.

The group's wholesale channel (sales to national and international retail chains) grew pro-forma by 1.4% on 2021 but with a slight decline in turnover at an organic level, approximately two-thirds of which was linked to difficulties encountered in keeping of the supply chain - with particular reference to the availability of glass - and for about a third to the retracement of the demand for wine consumption in large-scale retail trade.

The distance selling channel (direct sales to individuals), after the boom of the pandemic years, recorded a readjustment of revenues to the levels of 2019, however recording a significant strengthening of online sales. Finally, again from an organic point of view, the ho.re.ca. recorded robust growth in 2021 thanks to the positive performances recorded in the UK, the United States and Canada.