Concha y Toro posts 8.2% revenue increase for Q1

04 May, 2021

Leading Chilean wine producer Concha y Toro has reported an 8.2% revenue increase in the first three months of 2021.

The Casillero del Diablo and Cono Sur producer saw EBITDA margin expand significantly, driving an 87.3% increase in net profit during the quarter.

The company has been on a tear, having managed to increase net profit by 48.6% to Ch$77,994 million (US$107.4 million) in 2020, despite difficult trading conditions.

Chief executive Eduardo Guilisasti said: “We are very satisfied to present another quarter of strong results for Viña Concha y Toro.

“In the 1Q21, our financials reflect broadly the delivery of our commercial strategy, in place since 2018, with a greater premium focus on those brands and markets that have the highest potential for value and profitability growth.

“In the period, our operations continued to work with relative normality and in compliance with protocols established by authorities and internal measures to prevent contagion in the scenario of the pandemic.”

The company said that sales growth was driven by the markets in which it has integrated distribution, such as the UK, the US and the domestic market. It said it also started to see a recovery in China and South Korea.

Concha y Toro also owns Argentinean brand Trivento, which saw sales increase by 49% during the quarter.

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