Balance SheetThe balance sheet also improved, with net debt reduced to €90.5m, despite dividends paid and a buyback of around €9m.
ProfitabilityItalian Wine Brands delivered excellent half-year results, further strengthening a profitability rarely seen in the sector.
ValuationThe stock remains undervalued compared to peers, trading at 5.7x EV/EBITDA, a 30% discount deemed excessive for a company posting a 15% ROCE and an expected dividend yield of 4.8% in 2025.