July 1, 2022

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Depreciation of Viña Concha y Toro profits increased by 27% in 2021

Depreciation of Viña Concha y Toro profits increased by 27% in 2021

Financial Gazette – Santiago

Despite pressure in the global logistics chain in the second half of the year and the effects of a prolonged pandemic, Viña Concha y Toro closed with profits attributable to the owners of the parent company of $98,809 million, an increase of 26.7%. What has been accomplished in 2020.

It also indicated that progress in the premium strategy for its sales mix allowed it to close the 2021 fiscal year with an 8.8% increase in revenue, after obtaining $836.712 million, “recording a historic level for the second year in a row.”

“Once again, we achieved a year of historical results for Viña Concha y Toro. In 2021, the company’s financial numbers were the result of the premium strategy that we have consistently implemented in recent years, focusing on the value of our portfolio of Toro, in a statement that brands and the profitability of our operations.

In the fourth quarter, the company’s consolidated sales grew 20.5% to $258,375 million, as a result of a 6.3% volume increase, higher average price/product mix, and a positive exchange rate effect,” as detailed to the Committee on Financial Market ( CMF).

As reported, the portfolio of major and investment brands led the growth in 2021, with expansions of 10.6% and 16.7%, in terms of volume and value, respectively. In turn, he noted, “The better sales mix is ​​evidenced by the increased participation of the major and investment categories to 49.2% of consolidated sales, up from 45.9% recorded in 2020. In this way the company has reached a milestone. For the first time, you only need to consider the profits from came, Major premium brands and investment account for more than half of sales (53.3%), compared to 39.7% in 2017.

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In detail, sales in Chile were up 25%, with the increasing participation of premium and premium brands, as well as an increase in the average price. Meanwhile, Concha y Toro noted that the Chinese market witnessed a significant recovery in trading volumes after the effects of the epidemic, with annual growth of 89.5%.

“In 2022, we are aware of the significant challenges facing businesses and individuals, on different fronts. Together with the anticipation of a positive evolution of the pandemic, the logistical crisis, and a swift peaceful resolution to the recent geopolitical conflict in Europe and with this, we will continue to work with great commitment and confidence in the solid foundations of our company, Which will allow it to face the challenges that may arise and end this year as a stronger company, said the director of the company.