Here is a summary of the trading statement from Naked Wines PLC
Naked Wines PLC released its peak season trading update for the 13 weeks ended December 30, 2024. The company reported solid trading performance, with revenue down 8.9% at a constant currency compared to the previous year, an improvement from the half-year results. Member trends showed improvement, with a decrease in active members and an increase in core member retention. Revenue per member increased by 2%, and net cash improved to £30 million, a significant rise from the previous year. The company attributes these results to its strategic initiatives and testing plan.
The update also mentions the ongoing rightsizing of inventory, which has been a key driver of cash generation, with a closing position of £116 million, a substantial reduction from the previous year. Naked Wines remains on track to meet full-year expectations and plans to provide a comprehensive update on its strategic initiatives and performance review before the financial year ends, including a focus on shareholder value creation and improved cash generation. The companys CEO, Rodrigo Maza, expressed satisfaction with the peak season performance and reaffirmed that they are on track with expectations.
| Year | Revenue Change | Active Members Change | Core Member Retention | Revenue per Member | Net Cash | Inventory Closing Position |
|---|---|---|---|---|---|---|
| 2024 Q4 | -8.9% (-10.2% reported) | -10% | 81% | +2% | £30m | £116m |
| 2024 HY | -14.3% (-15.1% reported) | -12% | 79% | N/A | £23m | £139m |
| 2023 Q4 | N/A | N/A | N/A | N/A | £4m | £163m |