Viña Concha y Toro increased sales by 5.1% year-on-year in the fourth quarter of 2023 to Ch$259.4 billion, marking a notable break in the downward trend of previous quarters. In fact, the quarter saw a 21.8% increase in sales compared to the third quarter.

This was mainly due to the recovery of sales to Europe, which grew 23.6% in value, and an outstanding performance of the priority brand portfolio. The Principal, Invest and Protect categories grew 9.1% in value. In particular, the performance of the Argentinean Trivento and Diablo brands was outstanding.

Profit, meanwhile, declined 19.9% to Ch$16,913 million, due to expense and cost pressures, as well as one-off expenses.

“The global industry was affected in 2023 by high interest rates, rising inflation, weak consumption and high inventory levels. Faced with this scenario, Viña Concha y Toro demonstrated the strength and resilience of its business model and its constant capacity to adapt with a performance that went from strength to strength during the year”, said Eduardo Guilisasti, CEO of Viña Concha y Toro.

“The plan to streamline the operation and at the same time the conviction to continue investing in brand building were decisive for the improvement observed during the year,” he added.

The premiumization strategy of the portfolio continued to make progress, giving another proof of effectiveness in this adverse context: the premium brands Principal and Invest accounted for 51.9% of sales in 2023.

Also outstanding is the process and structure optimization plan, one of the measures adopted by the company to face the complex global scenario, which allowed savings of Ch$9,769 million in the year, which should continue to bear fruit in the coming years, and which makes us have a lighter and more efficient structure, ready to face any challenge that may arise in the coming periods.