News

AUS: Treasury Wine Estates sees FY losses after 'challenging' year

Most popular

Campari Group Performance Trends 2015-2019 - data

Carlsberg, Marston's are winners, who are losers?

e-commerce's watershed moment - former Amazon exec

Could bulk beer shipping be a COVID-19 legacy?

The just-drinks analyst returns

MORE
  • FY net losses of AUD100.9m (US$93.5m)
  • Net sales slip 5.3% to AUD1.7bn
  • Operating profits (EBITS) fall 24.6% to 184.6m  
  • Volumes slide 6.4% to 30m nine-litre cases
  • In-depth look at results available here

Treasury Wine Estates has reported full-year net losses of AUD100.9m (US$93.5m) and a slide in sales after what it called a “challenging” year.

Treasury Wine Estates has reported FY net losses after a tough year

Treasury Wine Estates has reported FY net losses after a tough year

The Melbourne-headquartered wine group went into the red in the 12 months to the end of June, following profits of AUD47.2m in the previous financial year. The group reported an impairment charge of AUD260m (US$243.6m) in June.

Prior to that, in May, CEO Michael Clarke said the company was looking to cut around 5% of its workforce.

Today, Clarke said: "Having taken the necessary steps in the final quarter of fiscal 2014 to drive improved performance, including increasing consumer marketing, reducing TWE’s cost base and addressing structural challenges within the business, I am confident the company is now positioned for future success.”

TWE is currently the subject of an apparent bidding war between private equity firms Kohlberg Kravis Roberts & Co (KKR) and an unspecified bidder, reported to be TPG.

For a drill-down into the results by region, click here.

Coverage of TWE's post-results conference call can be found here.


Related Content

Treasury Wine Estates explores Penfolds demerger

Treasury Wine Estates explores Penfolds demerger...

Treasury Wine Estates Performance Trends 2015-2019 - results data

Treasury Wine Estates Performance Trends 2015-2019 - results data...

Treasury Wine Estates head Michael Clarke to exit in 2020 - just-drinks comments

Treasury Wine Estates head Michael Clarke to exit in 2020 - just-drinks comments...

Treasury Wine Estates on M&A hunt as CEO targets US, Asia

Treasury Wine Estates on M&A hunt as CEO targets US, Asia...

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?