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Antinori looks at America: +9% in sales

But net profit sharply down (-22%) in 2023, target of 400 million euros turnover remains

A few months after the "Yankee" turn, which led to the purchase of an important vineyard on the US West Coast (read EFA News), the Antinori Group presented its 2023 financial statements. Sales of the Tuscan winery rose to 352 million euros (+9%). While the American turnover rose from 57 to 73 million euros, while the Italian turnover also grew and reached 135 million.

Finished product sales increased by 36 million euros (+13%), thanks to the entry of Stag's Leap Wine Cellars into the consolidated perimeter from 1 July 2023. Marchesi Antinori sales were influenced by both the geopolitical scenario and inflation, as well as by lower shipments to the USA, offset by the "good result of the domestic market, much of which in the restaurant channel".

Ebitda rises to 161 million (+6%), while operating profit falls to 98 million (-5%). Taxes include 6 million of “extraordinary”, so that a net profit of 65 million is reached, down (-22%) compared to 83 in 2022. The goal of the Antinori Group, after its operation in the American market, is now to get as close as possible to 400 million in turnover at a global level.

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EFA News - European Food Agency
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