Terra Vitae Vineyards

[Southern Lad]

A couple of references to expectations on 2022 harvest volumes:

Villa Maria Email 11/3/22 - Vintage 2022 has begun

"Whilst this years’ vintage will come with its own unique set of triumphs and challenges, it’s looking to be a plentiful one with incredible grapes that have balanced natural acidity and intense flavours".

Winepress March 2022 Edition - Article Vintage 2022 - High hopes for replenished cellars by Sophie Preece

"Crop loads are looking relatively abundant throughout the region, but repeated February rain events exacerbated the existing threat of powdery mildew and added botrytis to the mix. Cool weather during the downpours mitigated the impact to some degree, but winemakers and viticulturists –keen to replenish empty cellars – are scanning the skies and weather reports, with fingers crossed for classic Marlborough conditions of warm dry days and cold nights."

"Although the coming vintage is expected to be challenging, the experience of operating harvest during Covid times in both 2020 and 2021 has strengthened the industry in its resilience to respond quickly and adapt during difficult times, says (New Zealand Winegrowers chief executive Philip Gregan). “Over the past two years, wineries and growers have proven that they can manage the threat of Covid well, continue to operate effectively, and adapt processes to ensure they protect workers and other New Zealanders. Our industry’s most important priority continues to be keeping our people and our communities safe during this uncertain time. We are looking forward to another harvest of excellent quality, and believe an optimistic approach and helping one another will get us through.”

[Ricky-bobby]

Haven’t picked a lot is SB in Marlborough yet, but the first picks have gone well. Prob at least 10% up on estimate due to increased berry swelling. Flavours have arrived early allowing us to pick early. HB has been a battle with terrible wether, and yields a mixed bag.

[Southern Lad]

Thanks for the on the ground report Ricky-Bobby

[Sideshow Bob]

Terra Vitae announces record 2022 harvest result

The Board of Terra Vitae are pleased to advise that a record harvest of 5633 tonnes was achieved for the 2022 vintage. This is 20% higher than the previous record of 4693 tonnes in 2016. The 2022 harvest included a higher than budgeted first harvest of 190 tonnes for the new Middlemiss vineyard. A combination of favourable flowering conditions, the benefit of the improved irrigation systems and close management of the vines in a year of high disease pressure has had a large impact on this pleasing result. The additional harvest tonnage, together with an uplift in grape prices for 2022 will have a material positive effect on the final profit result for the year ending June 30.

[iceman]

Terra Vitae announces record 2022 harvest result

The Board of Terra Vitae are pleased to advise that a record harvest of 5633 tonnes was achieved for the 2022 vintage. This is 20% higher than the previous record of 4693 tonnes in 2016. The 2022 harvest included a higher than budgeted first harvest of 190 tonnes for the new Middlemiss vineyard. A combination of favourable flowering conditions, the benefit of the improved irrigation systems and close management of the vines in a year of high disease pressure has had a large impact on this pleasing result. The additional harvest tonnage, together with an uplift in grape prices for 2022 will have a material positive effect on the final profit result for the year ending June 30.

That sounds like a great announcement and gives optimism for the industry, one of the industries NZ needs to do well in our uncertain World.

Discl: don't hold nor follow this share

[Sideshow Bob]

Security: Terra Vitae Vineyards Ord
On behalf of your Board of Directors I have pleasure in reporting on the financial results for the year ended June 30, 2022. With our largest ever harvest of 5,633 tonnes together with an uplift in prices, the company achieved a record total harvest value of $12,713,988.

The profit before tax was $4,037,775, with EBITDA at $7,985,757. This has been an exceptional result due to a combination of ideal weather conditions at critical times and much of our input costs being incurred before some hefty increases flowed through from suppliers in the new financial year.

A fully imputed dividend of two cents per share has been declared, with a payment date of Dec 9, 2022. The Annual Report and Notice of Meeting is due to be sent to shareholders in the second week of October.

[Southern Lad]

TVV annual report released this week https://www.terravitae.co.nz/files/f...22%20Final.pdf

Im surprised it hasn’t received any media coverage as it’s an outstanding result.

in addition to the record harvest, great profit and increased dividend, TVV has revalued its vineyard assets up by a net $24.5m which has pushed up the disclosed NTA from 91 cents to $1.59 per share. Given the difficulty in selling the vineyards due to the Villa Maria arrangements, I’m not sure how shareholders unlock any of this increase. However, I assume rising vineyard values are a sign of increased economic returns to the industry, which overall must be good for TVV shareholders.

[Sideshow Bob]

Dodged a bullet......

Our thoughts are with the residents of Hawke’s Bay, including the viticulture teams who look after the Terra Vitae vineyards. We have managed to make contact with our vineyard manager and are relieved to advise that the team and their families are safe, although some are isolated and without essential services and have property damage. The Keltern and Twyford Gravels vineyards have escaped serious flooding, which many of the vineyards and orchards in the area did not. We will be assessing the impact of the extreme rainfall levels on the grapes in the Hawke’s Bay vineyards and a further market update will be made in due course.

[Sideshow Bob]

Luckier than most.....

The Keltern vineyard has now been inspected and we are keeping a close eye on disease pressure as the significant rain events over the past two weeks, and in particular Cyclone Gabrielle this time last week, have caused so much damage in the region. Downy Mildew is present in some parts of the canopy but has largely been controlled. Botrytis will be our main watch from here until harvest. We expect to commence harvest within the next week. Twyford Gravel vineyard was not flooded and is in good shape at this stage.

[Sideshow Bob]

Terra Vitae announces 2023 harvest result

The Board of Terra Vitae are pleased to advise that a harvest of 5219 tonnes was achieved for the 2023 vintage. This is the second highest harvest in the company’s history, in what has been a very challenging season for our vineyard teams in both regions. The flooding in the Hawke’s Bay region hit many vineyards hard, however both our Keltern and Twyford Gravels vineyards escaped damage. Our viticulture team, through their good management and dedication, managed the high disease pressure well and achieved a total crop higher than in 2022. The 2023 harvest from the Middlemiss vineyard continued to exceed budget with a yield of 540 tonnes. The high harvest tonnage, together with an uplift in some grape prices for 2023, will have a material positive effect on the final profit result for the year ending June 30.