October– December 2025
• Net sales increased by 48.5% to SEK 1,774 (1,194) million.
• EBITA, adjusted, increased to SEK 159 (104) million. EBITA margin, adjusted, increased to 9.0 (8.7)%.
• Cash flow from operating activities totalled SEK 198 (128) million.
• Operating profit increased to SEK 124 (74) million. Operating margin was 7.0 (6.2)%.
• Earnings per share increased to SEK 0.98 (0.60).

January – December 2025
• Net sales increased by 30.5% to SEK 5,495 (4,211) million.
• EBITA, adjusted, increased to SEK 435 (366) million. EBITA margin, adjusted, was 7.9 (8.7)%.
• Cash flow from operating activities increased to SEK 325 (245) million.
• Operating profit increased to SEK 323 (264) million. Operating margin was 5.9 (6.3)%.
• Earnings per share was SEK 2.32 (1.92).

Significant events during the year
• At the end of May, the European wine group Delta Wines was acquired.
• In September, Vinguiden Nordic AB, one of Sweden's largest wine clubs, was acquired.
• In September, a distribution issue of shares to broaden the shareholder base was carried out consisting of 800,000 shares. The share issue added 3,500 new shareholders to the Group and raised around SEK 26 million.
• In November, the Board of Directors decided to update the company's financial targets for growth and profitability.
• With effect from 12 December, Viva Wine Group's shares are traded on Nasdaq Stockholm (Main Market).

Significant events after the end of the year
• Linn Gäfvert, CFO of Viva Wine Group, has been appointed as Deputy CEO. Previous Deputy CEO, John Wistedt, is taking on the role as Business Development Director.
• In February, a majority holding was acquired in Alpha Brands AS, a Norwegian company selling beverages to the grocery trade in the ‘NoLo’ category (no- and low-alcohol beverages).
• The Board of Directors proposes to the Annual General Meeting an ordinary dividend of SEK 1.60 (1.55) per share. The Board of Directors proposes to pay the dividend on two separate occasions during the year – in May and in November.

Emil Sallnäs, CEO comments:

Strengthened position through acquisitions, strong underlying business and change of listing

In 2025, Viva Wine Group took decisive steps in our expansion in Europe. Through the acquisition of Delta Wines and the listing on Nasdaq Stockholm Main Market, we have established ourselves as a leading European wine group.

2026 STARTS WITH A STRATEGIC ACQUISITION
Before looking back on the year, I would like to start by highlighting our rapid start of 2026, which we began by acquiring a majority stake in Alpha Brands in Norway. The acquisition is part of the adopted strategy to strengthen the Company's growth with strategic acquisitions. With this acquisition, we are broadening our Norwegian business to the grocery retail and strengthening our position in the Norwegian market. We are also strengthening our position in 'NoLo', no-alcohol and low-alcohol beverages, a growing category in most of our markets.

2025 – A YEAR OF GROWTH
When summarizing 2025, I am proud to say that we are a much bigger company today. We have delivered record high net sales and EBITA as a result of the acquisition of Delta Wines, while we have also performed strongly in our underlying business. Through the acquisition of Delta Wines, we have opened up our B2B segment in Europe, which means that we have diversified our business and taken a significantly larger and more clear position in the European wine market. At the same time, we remain firmly established as the market leader in the Nordic region. In the B2C segment, we are pleased to see that our marketing investments have led to a growing customer base and that we delivered organic growth in every quarter of the year.

Despite the headwinds in the market during the year, our overall estimation is that Viva Wine Group has once again outperformed the market and that we have consequently strengthened our position. The fact that we have also maintained solid profitability for the year is a sign of strength.

Our indebtedness increased initially following the acquisition of Delta Wines but has been reduced as planned and is gradually moving down towards our target. We consequently closed the year with a net debt to EBITDA ratio of 2.6x.

INCREASED MARKET SHARES IN B2B
In B2B, we increased net sales by 36.7 percent during the year through the acquisition of Delta Wines, while delivering a strong gross margin and solid profitability.

In the Nordic monopoly market, despite high comparative figures, we increased our market share to 22.6 (22.4) percent for 2025. This reflects the strength of our customer offering and our ability to adapt quickly to the needs of customers.

Our European B2B business delivered as expected during the year, and our estimation is that we outperformed the market.

ORGANIC GROWTH IN B2C – A MILESTONE
An important milestone in 2025 is that we have managed to reverse the trend in our e-commerce to organic growth, despite a tough market. In 2025, our B2C business grew organically by 3.3 (-4.2) percent. Our estimation is therefore that during the year we outperformed the market in terms of both profitability and growth. Growth was driven by an increased number of active customers and increased number of orders. At the same time, the number of new customers increased by 17.7 percent over the year. This positive trend shows that our marketing investments, together with our long-term strategic efforts, have paid off.

CHANGE OF LISTING TO THE MAIN MARKET– A QUALITY STAMP
In order to continue along our successful growth journey, the listing on Nasdaq Stockholm was a natural step for us as a company. The change of listing is a quality stamp and clear evidence that our organisation and business model meet the high standards of the Main Market.

WE ARE CONTINUING TO DELIVER ON OUR STRATEGY
Although market conditions and consumer sentiment remain uncertain, we have built a solid foundation to stand on. We are continuing to deliver on our strategy; to generate profitable growth with continuous development of relevant customer offerings, development of long-term partnerships complemented by strategic acquisitions. By utilising our scale, geographical reach and multi-channel presence, we aim to grow faster than the market.

A key success factor for our growth is our business model with a decentralised and entrepreneurial organisation. It generates both speed and flexibility. Our broad geographical presence and our proximity to markets allow us to quickly adapt our offering to what our customers demand. At the same time, our size creates clear economies of scale in areas such as product and brand development, financing and sustainability. During the year, the strength of our model was clearly demonstrated through the successful integration of the Delta Wines Group.

ENTERING 2026 IN A STRONG POSITION
We end 2025 with a strengthened position and, together with the exciting start of the year with the acquisition of Alpha Brands, I continue to look forward to the rest of 2026. I would also like to take this opportunity to extend my sincere thanks to our employees and partners, whose commitment and professionalism have been crucial to the year's strategic success. Together, we are continuing to build Viva Wine Group in the European wine market.

Emil Sallnäs, CEO Viva Wine Group
Stockholm, February 2026

Please see the full report in the attached pdf.

Publication and presentation
Viva Wine Group's year-end report for Q4 2025 will be published on 19 February 2026 at 8:00 am CET. At 11:00 am on the same day, a videoconference will be held with CEO Emil Sallnäs and CFO/Deputy CEO Linn Gäfvert. The videoconference can be accessed at the following link: https://financialhearings.com/event/54715. The presentation will also be made available at https://investors.vivagroup.se/sv/.

For more information, please contact:
Linn Gäfvert, CFO/Deputy CEO, linn.gafvert@vivagroup.se, +46 (0)73−086 89 90