Naked Wines reported an improved performance in the fiscal year ended on 31 March 2025, posting results in line with previous guidance.

Sales reduced 14% year-over-year to £250.2m, while gross profit margin remained mostly flat at 18.4% compared to 18.9% in FY24.

The company achieved an adjusted EBITDA excluding inventory liquidation and associated costs of £6.7m, a 23% decrease from £8.7m in FY24.

However, the wine retailer narrowed its losses, reporting a pre-tax loss of £4.9m compared to a £16.3m loss in 2024.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

Rodrigo Maza, chief executive of Naked Wines, said: “Over the course of FY25, we have taken big steps to stabilise the business, to rebuild the team, and to ground our strategy in real data and insights. We’ve announced a clear, disciplined plan to reach in excess of £70m cash.

“We are already executing with more focus, more discipline, and more conviction than ever. And while there’s still work to do, I genuinely believe we have built the platform to take Naked to the next stage of growth; FY26 will be an exciting year.”

Adjusted EBIT declined to a loss of £2m compared to a £5m profit in the year prior, which was driven by inventory liquidation and its associated costs.

Naked Wines expects sales to be in line with the previously provided medium-term guidance of between £200m and £216m and adjusted EBITDA, excluding inventory liquidation and associated costs, of between £5.5m and £7.5m.