Vintage Wine Estates reports Fiscal 2021 net revenue rose 16.2% from the prior year to $220.7 million, as case volume rose 9% to 1.875 million cases. Acquisitions contributed $2.3 million in net revenue for the year.
The increased volume was driven by increases in the Business-to-Business (“B2B”) and Direct-to-Customer (“DtC”) segments. Although volume was 6.6% lower in Wholesale, revenue was down just 3.3% as a result of improved mix and the Kunde acquisition. B2B volume grew 35.8% for the year while revenue increased 43.3%, reflecting the Company’s expanded relationships in private label and custom wine production. DTC volume was up 27.0% while revenue increased 19.7% due to the change in mix within the channel which was more oriented toward special programming through a large e-commerce company.
Looking toward fiscal 2022, Vintage said it expect pro forma net revenue of $265 million to $275 million and EBITDA of about $63 million to $64 million.