SANTIAGO, Chile, Aug. 26, 2016 /PRNewswire/ -- Viña Concha y Toro
S.A. ("The Company" or "Concha y Toro") (NYSE: VCO,), global
leading winery and the principal wine producer and exporter of
Chile, announced today its
consolidated financial results, stated under IFRS, for the second
quarter 2016 ended June 30, 2016. For
the quarter, Net Income increased 32.2% totaling Ch$13,248 million.
This result is explained mainly due to the growth in volume of all
the wine business areas, a significant growth in the Premium
category, and a net exchange rate positive effect.
Eduardo Guilisasti, CEO, says "I would like to highlight the
expansion in the Operating Margin and the increase of the Net
Income. This is explained by the volume rises, the positive
role and performance delivered by distribution subsidiaries of the
Company and a positive performance of our premium brands, all of
them main elements of our global business strategy."
Highlights 2Q2016 vs 2Q2015
- Increase of 32.2% of the Net Income totaling Ch$13,248 million,
representing an expansion of 130bp in comparison to the second
quarter of 2015.
- Expansion of 226bp in the EBIT Margin, reaching a 12.6% as
percentage over sales, figure that represents operating income of
Ch$21,825 million.
- The Operating Income plus depreciation and amortization
increased 23.5%, representing an expansion of 170bp, figure that
represents 15.5% as percentage over sales.
- Stands out the performance of Casillero del Diablo, a truly
global brand with presence in 147 countries, with higher sales of
12% and 8% in terms of value and volume.
- Total sales increased by 9.9% totaling Ch$173,292 million in
the quarter, highlighting:
- Export Markets from Chile
increased 10.5% in value totaling Ch$116,463 million, driven by a
5.5% of higher commercialized volumes.
- Asian markets presented an increase of 18% in volume, driven by
increases in China (+64%),
Japan (+12%) and Australia (+114%).
- The Canadian market registered higher sales of 23% in volume,
positively impacted by higher sales of Casillero del Diablo (+64%)
Frontera (+20%) and Cono Sur's brands (+15%).
- UK contributed with a 4.8% volume growth, with strong sales of
core brands: Casillero del Diablo (+17%), Trivento Reserve (+35%)
and Cono Sur Bicicleta (+39%).
- The Mexican market rose its volumes by 21%, boosted by higher
sales of Reservado CyT (+19%), Maipo Blend (+50%) and Casillero del
Diablo (+33%).
- The Chilean domestic market grew a 5.7% in volumes, driven by
higher sales of Casillero del Diablo (+15%) and Cono Sur's Portfolio (30%).
- Fetzer Vineyards sales of bottled wine increased by 12.1% in
volume terms, boosted by higher sales in the domestic market (9.8%)
and export markets (35.1%). Fetzer's core brands Fetzer, Bonterra
and 1000 Stories are showing an attractive momentum.
- Sales in the Argentinean subsidiary, Trivento Bodegas y
Viñedos, grew 26% in value and 38.7% in volume, based on positive
results in export markets and domestic markets. Trivento has shown
a positive performance of its brands in USA, Brazil and Japan.
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SOURCE Vina Concha y Toro
S.A.