Strong harvest at Testament Winery
Zhoda Investments' wholly owned subsidiary Testament Winery is Croatia's first Swedish winery. The goal is to create Croatia's best wine. This year's harvest amounted to 255 tons, which is the second largest in company history. The quality of the grapes is very high and the vintage 2022 will produce excellent wines.
"Since we founded Testament Winery in 2017, we have year by year established a strong demand for the winery's wines. We are very glad that we can meet this demand with the second largest harvest in the company history. In addition, we are expanding the premium part of the portfolio which leads to higher margins and a stronger brand", says Robert Karlsson, CEO of Zhoda Investments.
The summer of 2022 was relatively warm and the activity level in the vineyard has been high. Testament Winery has a favorable position with its vineyard located on hills sloping down to the Adriatic Sea. The breeze from the sea enables the production of wines with a high degree of freshness even during vintages with warm summers. In addition, Testament Winery has installed an irrigation system that can be used when there is little rain. This year, the irrigation system was used for the white wine grapes whereas the red wine grapes produced a strong harvest on their own.
During the year, Zhoda Investments' two wineries Testament Winery and Black Island Winery have reached several important milestones in terms of sales and a wider and more premium product portfolio. The company will make further announcements in coming press releases.
Earlier this year, the sister winery Black Island Winery reported that it has increased production in 2022 by 75% from 80,000 to 140,000 bottles.
Wine club Testament Vänner
All Swedish wine lovers can follow Croatia's first Swedish winery's journey towards creating Croatia's best wine by joining the wine club Testament Vänner. Application for a free membership can be made on www.testamentvanner.com.
For more information, please contact:
Robert Karlsson, CEO Zhoda Investments AB
+46 709 565 141, [email protected]
www.zhodainvestments.com
About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. In the coastal region of Dalmatia in Croatia, Zhoda owns and manages Testament Winery and Black Island Winery. Based on indigenous organic grapes and a two-thousand-year-old wine tradition, it is Zhoda's award-winning winemakers' objective to create Croatia's best wine and to become the country's leading exporter of premium wines. The vision is to reach a production of one million bottles per year. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. For more information, visit www.zhodainvestments.com.
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
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