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The wine group Compañía Vinícola del Norte de España (CVNE) reported a turnover of 125 million euros during its last fiscal year, up 5%, and a profit of 27.7 million euros. This 11.2% increase in profits was mainly due to the increase in sales outside Spain, which now account for 2/3 of the total. As CVNE’s CEO Víctor Urrutia told Expansión, they are very diversified abroad. And that growth in exports helped the company’s profits, as the general situation of the sector is not as rosy as expected, especially due to the global economic situation in general.
This diversification has also been evident in the development of new projects undertaken by the company. Last March, Compañía Vinícola del Norte de España (CVNE) boosted its presence in Spain with its entry into the Ríax Baixas D.O. by incorporating Bodegas La Val, which is located in Salvaterra de Miño, in Condado de Tea. This meant its eighth winery in the group and the inclusion in its portfolio of Albariño wines. It thus joined 7 other wineries in Spain, distributed in different Appellations of Origin: CVNE, Imperial, Viña Real and Contino in Rioja; Virgen del Galir in Valdeorras; Bela in Ribera del Duero; and Roger Goulart in Cava.
At that time, Victor Urrutia explained that this was part of CVNE’s strategy “to be present in the most important wine regions of the country. As a company that is committed to the wine sector, we have the illusion and the goal of becoming visible and strong in the wine areas of Spain par excellence and today we are pleased to take another step in that direction,” he said.