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English sparkling producer Gusbourne sees revenue grow 49%
Gusbourne revealed in its full year results for 2022 that its net revenue had leapt by 49%, heralding the 2022 vintage as “one of the best in 20 years”.
Charlie Holland, CEO and chief winemaker at Gusbourne announced that the English sparkling producer delivered “significant growth” during 2022, with net revenue leaping 49% to to £6.24 million.
“I am pleased to report another excellent performance in 2022 where Gusbourne delivered further significant growth and execution of our strategy,” Holland said.
“Despite a challenging macroenvironmental backdrop, we have continued to see significant consumer demand for Gusbourne wines, reflecting the luxury status of the Gusbourne brand and the underlying growth of the dynamic English wine sector.”
In order to cater to this market growth, Gusbourne plans to increase its planted area to 152 hectares by 2025, which will expand the scale of its production and future sales potential.
The growth Gusbourne saw during 2022 applies both to the UK and international markets, with Gusbourne’s wines now available in 30 countries. Nine new product launches contributed to the success, including its most exclusive vintage wine to date, Fifty-One Degrees North and its newly designed 2020 Still English Rosé.
The announcement follows on from impressive growth the previous year when Gusbourne doubled its revenue, announcing a net revenue of £4.191 million in its financial results for 2021, 99% higher than that of 2020.
“We have seen strong revenue growth across all our sales channels, both in the UK and internationally, as the quality of Gusbourne’s wines continue to gain praise and critical recognition, further cementing our excellent reputation. At the same time, price / mix was a positive driver of our gross margin,” said Holland.
“With these strong results, a fantastic harvest in 2022, further new land purchases made during the year and healthy inventory levels in our cellars, the Board continues to look to the future with great confidence as we further strengthen our position as one of the UK’s most significant fine wine producers.”
The chairman’s statement read:
“Our strategy is firmly on track to deliver against previously announced scale and profitability ambitions. We remain fully committed to driving increasing revenue across a growing range of premium sparkling and still wine product ranges combined with related experiential services which will help to further cement the brand’s luxury positioning. Moving towards EBITDA breakeven is also a key priority for 2023.”