27th Mar 2025 20:22
Naked Wines PLC - Norwich, England-based online wine seller - sets out a new strategic plan. Will now target GBP10 million to GBP15 million in annual earnings before interest, tax, depreciation and amortisation, against GBP5.0 million in adjusted Ebit in financial 2024 and GBP15.9 million in financial 2023. This goal is to be supported by GBP23 million in newly identified annualised cost savings, creating up to GBP30 million in additional net cash. Naked Wines is also aiming to deliver sustainable underlying revenue growth, with a 5% to 10% exit growth rate. Revenue is expected to stabilise at GBP200 million to GBP225 million by financial 2029. The firm is also prioritising reaching GBP75 million in cash from the March 2025 balance sheet, which will be delivered over the medium term largely by liquidating GBP40 million in excess inventory. Read More