NAKED WINES PLC - Full Year Results

Naked Wines PLC’s FY2026 investor update highlights solid progress against its strategic transformation, with a stronger focus on profitability, cash generation and long-term sustainable growth. While revenue declined 18% as the company prioritised higher-value customer acquisition over volume, adjusted EBITDA increased 35% year-on-year to £7.6 million, net cash rose to £33.4 million and return on capital improved through disciplined cost management and capital allocation. Management exceeded its cost-saving targets, enhanced gross margins through pricing and operational efficiencies, and outlined a clear growth strategy centred on customer retention, profitable acquisition and the migration to Shopify, which is expected to deliver approximately £10 million of annual cost savings by FY2029 while improving the customer experience. The company also highlighted strong progress in customer satisfaction, retention and lifetime value, alongside expanding B2B opportunities and continued shareholder returns through share buybacks. With FY2027 guidance pointing to further EBITDA growth, continued cash generation and disciplined investment, Naked Wines remains confident in delivering sustainable revenue growth, improving margins and long-term shareholder value.