Vega Sicilia posts record revenue and profit in 2024 as domestic sales and bottle prices surge

Vega Sicilia, one of Spain’s most renowned wineries, achieved historic financial results in 2024, breaking its previous records for revenue, profit, and average bottle price. The company, based in Valladolid and known for labels such as Alión, Pintia, and Macán, reported a turnover of 52.5 million euros for the year. This figure represents a 31% increase over the previous year and marks the first time the winery has surpassed the 50-million-euro threshold. In the three years prior, Vega Sicilia’s sales had remained steady between 40 and 41 million euros.

The surge in revenue is attributed to both a significant rise in the number of bottles sold and a notable increase in prices. In 2024, Vega Sicilia sold 321,219 bottles—almost 14% more than in 2023—reaching its highest volume since 2018. The average price per bottle climbed to 150.91 euros, up 15.4% from the previous year. This continues a trend of annual price increases that has lasted eight consecutive years. For comparison, the average price per bottle was just 93.1 euros in 2014, meaning prices have risen by more than 62% over the past decade.

The company considers an annual output of around 300,000 bottles to be its “ideal standard offer,” a target it describes as challenging to achieve consistently due to variations in harvest quality and quantity. In 2024, grape production reached 319,000 kilos—29% less than in 2023—which will affect future sales volumes when these vintages are released. Despite this drop in grape yield, Vega Sicilia maintains that recent harvests promise excellent quality and sufficient quantity for future releases.

A key feature of the 2024 results was strong growth in the domestic Spanish market. Sales within Spain rose by 31%, while exports increased by just 3.4%. Domestic sales accounted for 41.7% of total volume, with the flagship Vega Sicilia Único (2019 vintage) making up 61% of all bottles sold last year. In terms of value, Spanish sales reached 25 million euros—a jump of 54%—and represented nearly half of total revenue.

International markets remain crucial for Vega Sicilia’s long-term strategy. Over the past decade, exports have steadily increased their share of total sales. In 2014, only about 39% of bottles were exported; by 2021, international sales had overtaken domestic ones for the first time. In 2024, exports accounted for 58.3% of all bottles sold (187,286 units), while Spain absorbed the remaining 133,933 bottles.

Profitability also reached new heights in 2024. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 33.5 million euros—a gain of 43%. Pre-tax profit hit 42.7 million euros (up by 72%), and net profit soared to 34.6 million euros (an increase of 85%). The company also received eight million euros in dividends from its subsidiaries Alión and Pintia—almost double what it collected in the previous year.

Vega Sicilia distributed a record dividend of 40 million euros to its sole shareholder El Enebro, owned by siblings Pablo, Emilio, Juan Carlos, María Elvira and Marta Álvarez Mezquíriz.

The company’s annual accounts also reflect management changes during the year. Alberto Álvarez Ayuso joined as general manager in June but left by May to lead Iskayplanet, a pet care products firm. The accounts show one million euros paid out in severance related to management departures.

Looking back over ten years reveals a clear shift toward internationalization and premium positioning for Vega Sicilia wines. In earlier years such as 2014 and 2015, most sales were within Spain; since then, exports have grown steadily both in volume and value share. The winery’s ability to raise prices while maintaining or increasing sales volume has set it apart from competitors and reinforced its reputation as a leader among Spanish wine producers.

The results from last year confirm that Vega Sicilia’s strategy—focused on quality control, limited production volumes and gradual price increases—continues to pay off both at home and abroad. The company’s performance stands out not only for its financial strength but also for its ability to adapt to changing market conditions while preserving its brand prestige on an international scale.