In this episode, we speak with James Pennefather, CEO of Chapel Down, following the release of strong results and a positive outlook for the year ahead.
Chapel Down is England’s leading winemaker and the most recognised English wine brand, producing award-winning sparkling and still wines from over 1,000 acres of vineyards in Kent. This is around 9% of the UK’s total production.
There was a lot to like in 2025’s financial performance, with sales rising 19% to £19.4m, driving a 75% increase in adjusted EBITDA.
James walks us through the drivers of top-line momentum, the dynamics of the shift in gross margin, and the path back to margin expansion. We dig into the balance sheet and when shareholders should expect to see improving cash conversion and sustainable free cash flow.
On the commercial side, James discusses the rapid growth in off-trade sales, the protection of premium positioning as supermarket distribution scales, and the increasing contribution from the company’s Tenterden Mill Series wines.
With marketing investment stepping up, we explore the expected payback and the principal drivers underpinning Chapel Down’s ambition for sustained double-digit growth.