In the first nine months of the year, performances in the United Kingdom, Japan, Brazil and Mexico stood out, boosting the company’s revenues by 16.9% year-on-year.

Viña Concha y Toro, Latin America’s largest wine producer, reported a 16.9% increase in revenues for the first nine months of the year, totalling Ch$675,718 million, despite the challenging global scenario. This was driven by strong momentum in its priority brands and a higher exchange rate.

In the third quarter, sales rose 9%, consolidating its recovery by completing four consecutive periods of expansion. ‘This allows us to ratify our projections of double-digit revenue growth in value for this year, despite the still challenging global scenario for the industry,’ says Viña Concha y Toro’s CEO, Eduardo Guilisasti.

Between January and September, performances in the UK, Japan, Brazil and Mexico stood out. This was partially offset by the inflationary effect in Argentina, the quarterly slowdown in the United States, the still persistent slowdown in China and a beer segment in Chile that has not yet fully recovered.

As a result, the company’s gross margin improved to 38.9% (+230 bps y-o-y) in September, reflecting changes in the sales mix and cost improvements over the last year, coupled with a favourable exchange rate impact. Profit attributable to controlling shareholders amounted to Ch$52,348 million, 99.7% higher than in the same period of the previous year.

An important part of the positive sales performance is explained by the strength of brands such as Casillero del Diablo and Diablo, as well as Trivento of the Argentinean subsidiary. Other highlights include the innovations of Casillero del Diablo Carnaval and Casillero del Diablo BeLight, a low-calorie product with lower alcohol content.

The mix of premium and above sales (considering the Principal and Invest brands of the priority parent) rose to 51.8%, an improvement of 70 basis points versus the previous year.