Treasury Wine Estates today (15 December) requested a pause in the trading of its shares on the Australian Securities Exchange, ahead of a planned update to its outlook.
In a statement, the Penfolds winemaker said it had asked for the trading halt to be “effective immediately”.
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TWE said it was preparing for an investor and analyst call in two days’ time, “which will include information regarding the company’s outlook”.
The group has requested the pause to run “until the earlier of the commencement of normal trading on Wednesday 17 December 2025, or the release of an announcement by the company in relation to this matter”.
According to a filing with the ASX earlier this month, Wednesday’s call is set to include details on “performance in TWE’s key markets”, such as the US and China, as well as “initial observations” from the group’s new CEO Sam Fischer, who stepped into the role in October.
At the start of December, the Daou Vineyards brand owner forecast an impairment on its US assets, amounting to at least A$687.4m (then $450m).
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By GlobalDataThe group said then that brands like Daou and Matua were growing faster than the market but it had decided to put in place “more conservative long-term market growth assumptions” as a result of “further moderation in US wine category trends”.
TWE said the impairment would cause “reduced long-term earnings growth rates”, impacting the value of its Treasury Americas and Treasury Collective business segments.
The Lindemans producer expects the impairment will see “at least all goodwill”, amounting to A$687.4m, being written off in its Americas region, with other assets potentially being impacted.
The final impairment charge as well as its allocation to assets will be assessed as part of the group’s 2026 interim results.
TWE said the decision followed a disclosure in its annual report in August of a reduction in future cash flows of 11% a year in the Americas business that “would reduce impairment headroom to nil”.
In October, the Australian wine major also withdrew its fiscal 2026 earnings guidance due to an “uncertain outlook” for its Penfolds and Treasury Americas businesses.
