2024-04-29 22:36:09
“We anticipated and made the necessary adjustments, allowing us to be a more resilient, agile, efficient and close company to consumers, which is already being reflected in the results,” said Eduardo Guilisasti, CEO of the wine company.
And growth of 26.4% recorded sales for the first quarter of Concha y Toro Vineyard totaling $200,170 million, while profit rose 304% to $12,740 million.
In this way, the company marked a notable improvement in all its lines, completing two consecutive quarters of growthafter the complex 2023 for the global wine industry.
The better performance was due to “the effectiveness of the measures adopted by the company since September 2022 to face the challenging scenario for the sector, as well as a gradual improvement in international economic conditions,” explained the general manager of Viña Concha. and Toro, Eduardo Guilisasti.
“Although a challenging situation still persists worldwide for the wine and alcohol industry in general, we can safely say that Viña Concha y Toro today is a different company,” he added.
Healthy growth was observed in the wine segment, highlighting the progress of the most relevant markets for the company: the United States had a double-digit increase, and the United Kingdom continues with solid growth.
Priority brands continued to show signs of global strength, where Casillero del Diablo stands out, with an increase of 33.2% year-on-year.
“We anticipated and made the necessary adjustments, allowing us to be a more resilient, agile, efficient and close company to consumers, which It is already being reflected in the results”said the CEO of Viña Concha y Toro.
Concha y Toro Perspectives
For this year, the outlook is to grow sales at a double-digit rate.
“We have located innovation as our main transversal growth lever in the company, strongly supported by the work carried out from our own Research and Innovation Center, unique in the Latin American industry, and one of the few in the world,” said the executive.
“The new product launches in recent months are being very well received by consumers, which fuels our positive outlook for 2024“Guilisasti concluded.