The acquisition of the historic Kourtaki winery, transformed Cavino’s scale and position, adding almost €20 million to its turnover in a single year and significantly expanding its production capacity and commercial presence in the wine and spirits market. Sales rose 55% to €54.43 million, reflecting the group’s new scale.
The acquisition adds to a broader €10 million investment programme that Cavino has been implementing since 2019 to strengthen its production capacity. The company is also participating in a wine promotion programme in third countries for 2025-2027, with a total budget of €1.27 million and a 50% grant rate.
The change in scale is reflected in the 2025 financial statements. Consolidated sales rose to €54.43 million, from €35.18 million in 2024, while EBITDA increased by 22% to €6.24 million. Operating profitability, however, did not keep pace with turnover, with the EBITDA margin falling to 11.5% from 14.5%. Profit before tax came to €3.67 million, compared with €3.47 million in 2024, while net profit rose to €2.82 million, from €2.67 million.
The expansion of the business also had a significant impact on the group’s financial position. Inventories rose to €26.84 million from €15.47 million, while bank borrowing nearly doubled to €22.68 million from €11.72 million.
The financial statements also include a qualified opinion from the statutory auditor on the valuation of doubtful and disputed receivables worth €2.79 million. According to the audit report, the provisions recognised fall short of the required amount by about €1.23 million, with the result that receivables and equity are overstated by the corresponding amount and the year’s results by €68,000.
The acquisition of 100% of Greek Wine Cellars D. Kourtakis, completed on 4 April 2025, is the Aigio-based company’s most significant expansion move. With the addition of historic brands, distribution networks and production facilities in Markopoulo and Ritsona, Cavino is strengthening its position both in the domestic market and abroad.
The group’s portfolio also includes Mega Spileo Estate, operations in Nemea and a 60% stake in Babatzim distillery, while its products are sold in more than 50 countries, according to management.