Concha y Toro increased sales by 9.1% in Q2

05 August, 2021

Leading Chilean wine producer Concha y Toro increased consolidated sales by 9.1% in the three months to June 30.

It pointed to a strong performance in Asia, Central America, the Caribbean, and South America, and noted that it enjoyed “an important recovery” in China.

EBITDA was up 2.5% year-on-year and net profit increased by 8.6%.

CyT increased sales by 16.5%, EBITDA by 56% and operating profit by 71% in Q2 2020, so it was a challenging comparison base. There were also unfavourable foreign exchange fluctuations during the three-month reporting period.

Yet the Casillero del Diablo and Cono Sur producer managed to deliver another quarter of growth by championing premium brands and increasing its average sales price.

Chief executive Eduardo Guilisasti said: “Looking forward, we remain confident in the sustainability of our results, based on the improvement in the quality of our portfolio and the relations that we maintain with retailers and distributors.

“In the same manner, we continue to work with all the precautions needed to protect our people and their families during the health crisis, expecting an improvement in conditions in coming months.”

Last month, IRI data revealed that CyT's Trivento brand has become the world's bestselling Argentine wine brand. Global sales have reached $256 million, having doubled over the last five years.

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