Trading Update

(AIM: VINO) Virgin Wines UK plc has signed a lease for a new warehouse facility in Preston to enable the delivery of its growth strategy. The warehouse build and fit-out will be completed during FY27, with associated exceptional operating costs expected to be ~£0.7m and increased capex investment of ~£1.6m. The company will exit its current Bolton site by the end of February 2027, consolidating all fulfilment in Preston. Virgin Wines expects to achieve ~4% revenue growth during FY26, with FY26 revenue of c.£61m, FY26 EBITDA of -£200k, and FY26 PBT of -£1.5m. The company continues to invest in customer acquisition and expects to deliver over 40% growth in customers acquired year-on-year across the Group for FY26. Warehouse Wines is expected to deliver FY26 revenue up 90% year-on-year. The company remains debt free, with the investment in the new warehouse facility being funded through existing cash reserves.