An increase of 41.3% was noted home consumption of wine wine season 2021-2022 compared to the 2020-2021 season, approaching the level of the 2013-2014 season. This conclusion, in particular, was made by an industry study of winemaking, prepared by the company “Stochasis Business Consultants SA”.
It is noted that the pandemic negatively affected the HORECA “channel” (restaurants, hotels, catering) and led to an increase in stocks of wine and measures to withdraw it. On the other hand, months of quarantine has led to a significant increase in purchases of wines for home consumption. Stock draws in 2021-2022 and market normalization have signaled an increase in wine consumption to pre-pandemic levels. It is noted that the average annual rate of change (ARR) of domestic wine consumption in the period 2013/14-2021/22. was slightly negative (-0.7%).
The share of wine in bulk (non-standard or bag-in-a-box) in the total volume of the domestic market is estimated at about 50%. At the global level, wine consumption is represented, according to International Organization of Vine and Wine – OIVa slight increase (0.9%) in 2021 compared to 2020, due to the lifting of restrictions, the reopening of the HORECA “channel” and the resumption of public gatherings and celebrations.
The financial analysis of the sector shows that EBITDA as a percentage of sector sales almost doubled in 2021 compared to 2012 and settled at a satisfactory level. In particular, in 2021 it was 16.51%, and in 2012 – 8.63%.
It is noted that the larger increase in sales in relation to the increase in cost of sales in 2021 led to an increase in operating profit and, as a result, the emergence of net income for the same period. In addition, it was found that 7 of the 10 largest wineries, based on the published turnover in 2021, exceed the average gross profit (%) of all companies in the surveyed sector, and 6 of the 10 largest wineries exceed the average EBITDA (%) of the total number surveyed companies.
It is worth noting that in 2022 Greece owned 26% of the wines. Protected Geographical Indication (PGI) in the EU, ranking second, and 3% of protected designation of origin (PDO) wines.
Source: Kathimerini
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