Chapel Down Reports “Another Excellent Year of Growth”

On Thursday, Chapel Down Plc (ISDX: CDGP) announced its 2015 financial results. As Crowdfund Insider reported in 2014, Chapel Down became the first publicly traded company to raise capital via an equity crowdfunding platform using Seedrs.  The capital provided from crowdfunding was used to build a new brewery operation and grow their product line.

Highlights of Chapel Down’s 2015 include:

• 34% sales growth to £8.18m (2014: £6.11m)
• 36% growth in gross profits to £3.02m (2014: £2.22m)
• £507k* adjusted EBITDA – a 6% increase (2014: £478k*)
• One of 1000 companies to inspire Britain from the London Stock Exchange
• A successful crowdfund to build their new brewery in Ashford, raising £1.71m

Chapel Down chairman, John Dunsmore, stated:

“2015 was another good year for your Company. We continue to drive our top line without sacrificing margins and we are building strong brands. In our wine business, we enjoyed our second best ever harvest and invested £1.32m in planting 90 acres of new vineyards and in the purchase of further equipment to enhance our viticulture and winemaking. We are growing our supply whilst also investing in marketing, systems and people to stimulate sustainable long term demand. In recognition of the quality of our wines, we won gold medals in three prestigious global competitions – The International Wine Challenge 2015, The Decanter World Wine Awards 2015 and the Sommelier World Wine Awards 2015.”

Frazer Thompson, Chapel Down’s CEO, noted:

“Chapel Down has enjoyed another excellent year of growth. In a highly competitive trading environment your company has continued to invest in the value of its brands, its vineyards and winery and its people as we build a healthy, sustainable and innovative drinks company with an exciting future both at home in the UK and in sophisticated drinks markets abroad. With sales growth of 34% in the Group – sales up 27% on wine and up 50% on beer and cider – we are investing the proceeds to build the business whilst delivering growth in adjusted EBITDA at £507k* (2014: £478k*).”

In regards to Chapel Down’s future, Dunsmore added:

“We have excellent fast growing brands in two very exciting markets and a strong balance sheet. We have blue chip customers, good export potential and enthusiastic and thirsty consumers. We have more stock of our wines available and more customers wanting our beer and cider. With the construction of our new brewery on a highly visible site in Ashford, the development of our site in Tenterden and the continuing shift in demand towards high quality drinks made with passion and care, we remain confident that the prospects for the Group are excellent.”

See full results below.

BALANCE SHEET AS AT 31st DECEMBER 2015