Key Highlights

  • Australian Vintage (ASX:AVG) shares traded at $0.082 on 11 September 2026, up 2.50% ($0.0020) for the day, but down 41.43% over the past year.
  • Australian Vintage is an Australian wine producer behind brands including McGuigan, Poco Vino and Lemsecco.
  • FY26 statutory NPAT loss widened to $64 million, driven by a $27 million inventory Impairment and restructuring costs.
  • Underlying free Cash Flow was positive $2 million, the company's first positive result since FY22.

Australian Vintage Limited (ASX:AVG) shares traded at $0.082 on 11 September 2026, up 2.50%, or $0.0020, for the day. Over the past 12 months, however, the stock remains down 41.43%. Australian Vintage is an Australian wine company known for brands including McGuigan, Poco Vino and Lemsecco, selling across both domestic and export markets, with the UK a significant destination for its portfolio.

Latest Developments: FY26 Results

Cash Flow Turnaround a Key Feature of the Year

Australian Vintage reported FY26 statutory Revenue of $258 million, up $1 million on the prior year, with second-half revenue growth of 2% offsetting a first-half decline of 1.7%. The company recorded a statutory NPAT loss of $64 million, $58 million lower than the prior year, reflecting a $27 million inventory impairment, $6 million of restructuring costs, and other one-off items. Despite the widened loss, Operating Cash Flow was positive $4 million and underlying free cash flow was positive $2 million, both the first positive results since FY22, representing a $35 million turnaround from FY23.

Inventory Reset and Brand Growth

The company recognised a $27 million impairment to write down legacy inventory as part of a strategic reset, with inventory now sitting at approximately 90 million litres. Net Debt finished the year at $89 million, better than the company's $90 million guidance, with financing facilities extended to $128 million through to March 2028. The Poco Vino innovation sold more than 2.2 million units globally across six SKUs in 11 months, and is projected to exceed $20 million in net sales for FY27, while Lemsecco delivered Australian scan sales growth of 116% year-on-year.

Catalysts on Investors' Watch

  • The company's stated FY27 target of a net positive cash position for the full financial year.
  • Continued scale-up of Poco Vino, projected to exceed $20 million in net sales in FY27.
  • Renewed banking facilities extended to $128 million through to March 2028, with an option to extend to 2029.
  • Continued growth momentum in Lemsecco, with Australian scan sales up 116% year-on-year.

Risks to Watch

  • Net debt increased to $89 million from $75 million during FY26.
  • Statutory NPAT loss widened materially to $64 million, driven by one-off impairment and restructuring items.
  • The company operates in an environment of persistent Inflation and ongoing Supply chain pressures, including fuel levies and container availability.
  • McGuigan sales declined in the UK in line with the broader Australian wine category.

Conclusion

Australian Vintage's share price on 11 September 2026 reflects a stock still well below where it traded a year ago, even as the underlying FY26 results point to genuine improvement in cash generation. The daily price move and the FY26 results are separate developments, with the annual decline reflecting the accumulated performance of the stock over the full 12-month period.