Viña Concha y Toro (CONCHATORO) Q4 2024 earnings summary

Executive summary

• Consolidated sales increased by 14.5% year-over-year to CLP $958,630 million, with net profit up 79.5% to CLP $77,420 million, driven by premiumization, portfolio mix, and efficiency improvements.

• Don Melchor was named the number 1 wine in Wine Spectator's Top 100 Wines of the World for 2024, reinforcing global brand strength.

• All priority markets, especially the UK, US, and Brazil, posted double-digit sales growth.

• Casillero del Diablo and its extensions grew 8.4% in volume, representing 33.8% of wine sales.

• Operating margin improved to 12.5% for 2024, up from 7.8% in 2023.

Financial highlights

• Gross margin improved to 52.6% (+70 bp YoY), EBITDA rose 58.6% to CLP $151,375 million, and EBITDA margin increased by 440 bp to 15.8%.

• 4Q24 consolidated sales rose 9.1% year-over-year to CLP $282,912 million; net income up 48.2% to CLP $25,072 million.

• Gross profit for 2024 increased 20.4% to CLP $372,692 million, with gross margin at 38.9% (+190 bps).

• Net financial debt decreased by CLP $60,247 million, with a closing balance of CLP $339,541 million (at exchange rate as of March 2025).

• Earnings per share for 2024 reached CLP $104.8, up 79.5% year-over-year.

Outlook and guidance

• Sales growth for 2025 is projected between 3% and 8%.

• Growth will be driven by innovations in core brands, new product launches, and expanded consumer experiences.

• Management expects continued growth through premiumization, efficiency, and global brand strength.

• Ongoing focus on process optimization and cost control to further improve margins.

• No major risks are foreseen domestically, but tax increases and aggressive sustainability agendas are expected in some markets.