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Highlights

  • Delegat Group lowers FY25 global case sales forecast to 3.18 million, down 12% YoY following U.S. tariff impact.
  • Operating NPAT for FY25 is now expected to range between NZD 47 million and NZD 50 million, revised down from NZD 55–60 million.
  • In six months ended 31 December 2025, the company recorded a 25% decline in profit amid lower vintage yields, weaker demand, and planned price increases.

Delegat Group Limited (NZX:DGL) is a New Zealand-based premium wine producer and has recently issued revised earnings forecast for the full year ending 30 June 2025 (FY25) following growing market uncertainty in the United States. The revision comes in the wake of a 10% tariff imposed by the U.S. Administration on imported wines, announced on 3 April 2025, which has significantly impacted confidence among U.S. distributors regarding forward shipments in the fourth quarter (April – June 2025).

While the company’s trading performance for the nine months ended 31 March 2025 remained aligned with internal expectations and market guidance, the new tariff has prompted Delegat to cut its global case sales forecast. The group now expects to sell 3.18 million cases in FY25, representing a 5% reduction from its prior forecast and a 12% drop compared to the previous year.

Furthermore, Delegat has revised its operating net profit after tax (NPAT) guidance for FY25 to a range of NZD 47.0 million to NZD 50.0 million, down from its earlier projection of NZD 55.0 million to NZD 60.0 million.

Half-Year Performance

In the six months ended 31 December 2024 (HY25), Delegat recorded:

  • Global case sales of 1.63 million, down 15% (290,000 cases) from HY24.
  • Operating EBITDA of NZD 61.6 million, an 18% decline from the previous half-year.
  • Operating NPAT of NZD 28.3 million, down 25% or NZD 9.5 million from HY24.

Delegat attributed the weaker operating NPAT to a lower-yielding 2024 vintage, softening consumer demand, and the short-term impact of planned price increases in select markets, which weighed on volumes.

Top 10 shareholders of DGL

The top 10 shareholders of DGL have around 80.30% shareholding in the company. Jakov Nikola Delegat and Kevin Glen Douglas have the maximum stake in the firm with a shareholding of 66.11% and 7.65%, respectively.

Share performance of DGL

DGL shares closed at NZD 3.80 per share on 1 May 2025. Over the past year, DGL’s share price has dropped by almost 37.38% and in the past three months, the share price has declined by 20.42%.

52-week high of DGL is NZD 6.95, recorded on 29 April 2024 and 52-week low is NZD 3.79, recorded on 2 May 2025.

Resistance and support summary

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 01 May 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.