News

CHILE: Concha y Toro income falls in Q1

Most popular

How COVID has changed consumers' shopping habits

COVID is opening up aged spirits to a new world

How COVID has driven at-home indulgence - trends

Pernod Ricard Performance Trends 2016-2020 - data

PepsiCo's Driftwell launch a seachange for drinks

MORE

The Chilean winemaker Vina Concha y Toro saw its net income fall 23.6% in the first quarter to Ch$3,241m (US$ 5.3m), compared with Ch$4,242m (US$ 6.9m) in the first quarter of 2003.

Consolidated revenues were 3.1% higher at Ch$33,464m, growth mainly attributable to the larger sales volume of Argentine subsidiaries and Concha y Toro UK. However, export revenue in Chilean pesos decreased 6.5% due to the exchange rate impact, reflecting a 20.1% year-on-year appreciation of the Chilean peso against the US dollar.

Company CEO Eduardo Guilisasti said: "I would underscore our company's strong position in international markets, a 25% increase in export revenues in US dollars following a 17.3% increase in shipments and a 6.5% rise in the average dollar-denominated price. Solid gains were achieved in Europe, South America and Asia. Regarding domestic market results, I would highlight the strong recovery achieved in the domestic average price."

Operating income decreased 6.0% to Ch$4,438m. Operating margin decreased from 14.5% to 13.3% following a significant appreciation of the Chilean peso and its impact on dollar-denominated revenues.

EBITDA decreased 0.9% to Ch$5,632m.


Sectors: Wine

Related Content

Concha y Toro Q1 2020 - Sales jump 15.6% as COVID-19 approaches - results data

Concha y Toro Q1 2020 - Sales jump 15.6% as COVID-19 approaches - results data...

Concha y Toro Performance Trends 2015-19 - results data

Concha y Toro Performance Trends 2015-19 - results data...

How did Concha y Toro perform in Q1 2019? - results data

How did Concha y Toro perform in Q1 2019? - results data...

How did Concha y Toro perform in 2019? - results data

How did Concha y Toro perform in 2019? - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?