The company’s sales rose 26.4%, completing two consecutive quarters of gains, after a challenging 2023 for the global wine industry.

Viña Concha y Toro’s first quarter sales grew 26.4% to Ch$200,170 million, while profit rose 304% to Ch$12,740 million. In this way, the company marked a notable improvement in all its lines, completing two consecutive quarters of growth, after the complex 2023 for the global wine industry.

The improved performance, explained Viña Concha y Toro CEO, Eduardo Guilisasti, 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”.

“While a challenging global situation still persists for the wine and spirits industry in general, we can certainly say that Viña Concha y Toro is a different company today. We anticipated and made the necessary adjustments, allowing us to be a more resilient, agile, efficient and closer to consumers, which is already being reflected in the results,” he added.

Healthy growth was seen in the wine segment, with the most important markets for the company showing progress: the United States saw double-digit growth, and the United Kingdom continued to show solid growth.

Priority brands continued to show signs of global strength, with Casillero del Diablo up 33.2% year-on-year.

Outlook

“We have positioned innovation as our main transversal driver for growth in the company, strongly supported by the work carried out from our own Research and Innovation Centre, unique in the industry in Latin America, and one of the few in the world. New product launches in recent months are being very well received by consumers, which fuels our positive outlook for 2024,” said the CEO.

For this year, the outlook is to grow sales at a double-digit rate.