Concha y Toro reports huge growth during Q3

02 November, 2020

Leading Chilean wine producer Concha y Toro managed to increase consolidated sales by 28% year-on-year during Q3.

The firm shrugged off difficult trading conditions and saw EBITDA rise 53% to Ch$43.5 billion ($57 million) during the three months to September 30.

Volume sales increased by 19% in export markets, driven by the UK, Brazil, Nordics, Mexico, and Canada. It also grew value sales by 9% and volume sales by 11% in the domestic Chilean market.

Operating profit increased 69% to Ch$36.2 billion ($47 million) during the quarter, driven by a higher sales volume, improved mix, higher average price, and a favorable f/x fluctuation, which more than offset increased production costs.

Chief executive Eduardo Guilisasti said: “We are very pleased to present a quarter of historical results for Viña Concha y Toro, which evidence the strength of our business model, the consolidation of our 2022 strategy and reinforce our position among the leading companies in the global wine industry.

“In these challenging times for the global economy, these results underline the strength of the company through a solid top-line execution, overall volume growth, mix improvement and a higher average price.

“Looking forward, even though the global sanitary and economic scenario continue to be marked by uncertainty, we remain confident in our vision and results, and will continue to work with a strong commitment to our people’s safety and risk prevention.”

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