It’s not their geography, their grape varieties or even their winemaking. It’s their technology. According to winemaker and proprietor Brent Marris, these days you can’t afford not to be a tech head.
"We are increasingly seeing businesses investing in technology and innovation which is leading to better business decisions.” - Bennett
“The investment in technology and innovation is a big step up for us but we don’t see it as a cost,” he told bluenotes. “It is all about the future.”
That attitude represents the kind of innovation which has helped drive the performance of New Zealand wine.
The wine industry continues to perform well on the back of profitability for wineries of all sizes, strengthening balance sheets and a healthy propensity for innovation.
The 2018 Wine Industry Benchmarking and Insights survey report, Growing Smarter, released by Deloitte and ANZ in conjunction with New Zealand Winegrowers, tracks the financial results of 36 survey participants accounting for 44 per cent of the industry by litres of wine produced, and 35 per cent by export sales revenue generated.
Deloitte partner Peter Felstead said the 2018 results show all categories of participants recording positive profits before tax for only the third time in the twelve year history of the survey (2014, 2016 and 2018).
“In line with previous years’ results, larger wine companies with more than $NZ20 million in revenue show the largest average profit after tax of 18.7 per cent of revenue, with smaller wineries generally achieving lower returns and with greater variability amongst respondents,” Felstead says.
“It has also been pleasing to see equity levels, as a percentage of total assets for the wider survey group, have been steadily increasing over the last 10 years with levels ranging from 54 percent to 72 percent.”