CANTINA DI VERONA: APPROVED THE FIRST FINANCIAL STATEMENT AFTER THE MERGER BETWEEN CANTINA VALPANTENA AND CANTINA DI CUSTOZA

The turnover is equal to 66,474,670 euros, with a growth of over 5% compared to the previous year. Excellent performance also recorded by the nine points of sale.

Cantine di Verona approved, during the shareholders' meeting held on Saturday 18 December, the first financial statements after the merger by incorporation of Cantina Valpantena with Cantina di Custoza, which took place in July 2021. The consolidated turnover for 2020-2021 is equal to 66,474,670 euro, with a growth of over 5% compared to the previous year on the same perimeter. Net profit is 409,668 euros, while the shareholders' equity of the Veronese group amounts to 29,591,653 euros, up by more than 15% compared to the previous year, testifying to the consolidation of the group. In addition, shareholder liquidations increased by more than 10%.

Cantine di Verona today has about 110 employees, distributed in the three offices of Quinto, Custoza and Ponti sul Mincio and the nine points of sale. Just the shops, located in Veneto and Lombardy, despite the restrictions due to the pandemic, recorded an increase of 8%, reaching 7,724,000 euros in fees.

“The cooperative born from the merger between two historic local realities such as Cantina Valpantena and Cantina di Custoza – explains Luigi Turco, President of Cantine di Verona – has among its major objectives that of enhancing the Veronese denominations, being able to count on a greater commercial strength and on the possibility of innovative technological investments. In fact, the complete replacement of the bottling plant of the Custoza plant is expected in the first months of next year. This will allow, in addition to the increase in bottling capacity, the possibility of producing sparkling and semi-sparkling wines, which could represent one of the next commercial challenges for our group. Not only that: in the following years, an expansion of storage capacities and a new warehouse are planned at the Custoza site. Another relevant point of our strategy is the enhancement of a Custoza Riserva and Garda Doc”.

During the assembly, the new coordinated image of the group was also presented, with a new site and a new logo that graphically represent the roots of Cantine di Verona in the territory. In fact, the group includes all the Veronese denominations, of which it proposes itself as ambassador in the international markets.