Vina Concha Y Toro S.a. · BCS:CONCHATORO
Vina Concha Y Toro — H1 2025 Earnings Presentation
54 slides from Vina Concha Y Toro's earnings presentation, Aug 5, 2025
Slide 1: 1H25 Results Presentation
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO
Slide 2: Index
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 2 Index CHAPTER 01 Context, Highlights and Outlook EDUARDO GUILISASTI, CEO CHAPTER 02 2Q25 and 1H25 Results OSVALDO SOLAR, CFO
Slide 3: Context, Highlights and Outlook
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 3 CHAPTER 01 Context, Highlights and Outlook EDUARDO GUILISASTI, CEO
Slide 4: Highlights 1H25 vs 1H24
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 4 Highlights 1H25 vs 1H24 CONSOLIDATED SALES PREMIUMIZATION 53.3% P + I +2.3% Up to CLP$ 453,809 M OTROS Mix Portfolio P+I (+220 bp) GROSS PROFIT GROSS MARGIN EBITDA EBITDA MARGIN +2.3% 39.1% (4.6%) 14.8% CLP$ 177,249 M (0 bp) CLP$ 67,268 M (-110 bp) NET
Slide 5: Understanding the current market reality and major trends
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 5 To properly analyze the Company’s 2Q25 and 1H25 results, it is essential to understand the current market reality and major trends.
Slide 6: Market Reality and Trends
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 6 MARKET REALITY AND TRENDS PREMISE CONSEQUENCES ACTION R E S U LT S NEXT STEPS Since September 2022, Decreasing wine Since that date, we The Company’s results, in Understand the market we have maintained consumption and have been fine-tuning this context
Slide 7: Data from the Industry
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 7 Data from the Industry
Slide 8: Volume Sales in the Wine Category
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 8 Volume Sales in the Wine Category IN THE MAIN MARKETS AT THE INDUSTRY LEVEL VOLUME GROWTH VOLUME GROWTH 2024 VS 2023 YTD VS YTD-1* UK -1.8% -1.8% USA -4.3% -4.9% CHILE -1.8% -9.0% BRAZIL 10.0% 9.0% MEXICO -4.5% -5.4% According to the OIV, global wine co
Slide 9: Consumption of White and Rosé varieties
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 9 Consumption of White and Rosé varieties IS GROWING 2019 2024* 2019 2024* 3.6% 7.5% 10.2% 12.4% 16.8% 20.2% 48.6% 47.7% 79.6% 72.3% 41.2% 39.9% 12.3% 8.2% 4.2% 4.9% 39.7% 43.3% 41.8% 47.4% 45.8% 56.0% 51.8% 44.4% Growing consumption of white and rosé var
Slide 10: Volume Variation in Low and Non-Alcoholic Categories
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 10 Volume Variation IN LOW AND NON-ALCOHOLIC CATEGORIES PARTICIPATION LOW AND NON-ALCOHOLIC WINES 6.0% 1.6% Preference for products with a lower alcohol content. • Low and Non-Alcoholic wines are still a niche, but they are growing. • This category repres
Slide 11: Increasing price competition in the UK
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 11 Increasing price competition in the UK DESPITE INCREASES IN TAXES, FEES AND LEGISLATION Rolling 52 Week Volume & Price trend, Total Light Wine, Total Coverage 8,0% 6,0% 4,0% 2,0% This is especially true for the Varietal and Inferior categories, impacti
Slide 12: Data from Concha y Toro
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 12 Data from Concha y Toro
Slide 13: Sales by Volume
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 13 Sales by Volume BY CATEGORY VAR % VOLUME 1Q25 2Q25 1H25 PREMIUM AND SUPERIOR 5.9% 2.4% 3.9% VARIETAL AND INFERIOR (7.7%) (0.3%) (3.7%) BEERS AND SPIRITS 0.8% 7.4% 3.5% CONSOLIDATED VOLUME (2.7%) 1.1% (0.7%) 1H25 CONCLUSIONS: • Concha y Toro increased i
Slide 14: Sales per Volume – Only Wine
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 14 Sales per Volume – Only Wine QUARTERLY DEVELOPMENT (THOUSANDS OF 9LC) VAR 14,180 14,037 8,293 7,758 0.7% 7,705 vs 2Q24 7,459 6,504 6,476 6,279 VAR (1.0%) 5,758 1Q 2Q 1H24 1H25 vs 1H24 2022 2023 2024 2025
Slide 15: Sales per Volume – Premium and Superior Category
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 15 Sales per Volume – Premium and Superior Category QUARTERLY DEVELOPMENT (THOUSANDS OF 9LC) VAR 2.4% 5,231 5,034 2,941 2,873 2,806 2,671 vs 2Q24 2,358 2,338 2,228 2,099 VAR 1Q 2Q 1H24 1H25 3.9% vs 1H24 2022 2023 2024 2025
Slide 16: Sales per Volume – Varietal and Inferior Category
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 16 Sales per Volume – Varietal and Inferior Category QUARTERLY DEVELOPMENT (THOUSANDS OF 9LC) VAR 9,147 (0.3%) 8,806 5,353 4,899 4,885 vs 2Q24 4,788 4,248 4,166 3,921 3,659 VAR 1Q 2Q (3.7%) vs 1H24 2022 2023 2024 2025
Slide 17: Sales by Value
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 17 Sales by Value BY CATEGORY VAR % VALUE 1Q25 2Q25 1H25 PREMIUM AND SUPERIOR 6.6% 6.5% 6.6% VARIETAL AND INFERIOR (5.4%) 1.1% (2.0%) BEERS AND SPIRITS 5.2% 16.2% 9.7% CONSOLIDATED SALES* 1.4% 3.2% 2.3% (*) It is not considered the "Other" category since
Slide 18: Sales per Value – Only Wine
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 18 Sales per Value – Only Wine QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 426,966 416,065 233,624 4.1% 224,512 vs 2Q24 209,193 193,341 191,553 189,050 161,935 146,615 VAR 1Q 2Q 1H24 1H25 2.6% vs 1H24 2022 2023 2024 2025
Slide 19: Sales per Value – Premium and Superior Category
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 19 Sales per Value – Premium and Superior Category QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 238,784 6.5% 130,830 224,079 122,795 113,368 vs 2Q24 107,954 104,018 101,284 94,156 VAR 6.6% 81,813 1Q 2Q 1H24 1H25 vs 1H24 2022 2023 2024 2025
Slide 20: Sales per Value – Varietal and Inferior Category
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 20 Sales per Value – Varietal and Inferior Category QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 102,795 191,987 188,182 1.1% 101,717 95,825 90,269 vs 2Q24 85,387 85,032 VAR (2.0%) 67,779 64,802 1Q 2Q 1H24 1H25 vs 1H24 2022 2023 2024 2025
Slide 21: Sales growth in value and volume – Beers and Spirits
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 21 Sales growth in value and volume BEERS AND SPIRITS VAR 9.7% VALUE 20,104 18,319 VAR 3.5% VOL 1,182 1,142 1H24 1H25 1H24 1H25 (THOUSANDS OF 9LC) (MILLIONS OF CLP$)
Slide 22: Margins
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 22 Margins PER QUARTER 1Q24 1Q25 2Q24 2Q25 1H24 1H25 GROSS MARGIN 38.1% 38.6% 39.9% 39.5% 39.1% 39.1% SG&A / SALES 27.7% 27.6% 26.1% 27.5% 26.8% 27.5% OPERATING MARGIN (EBIT MARGIN) 10.4% 10.3% 14.0% 11.5% 12.3% 10.9% CONCLUSIONS: • In 2Q25 there was a hi
Slide 23: New plantations in White varieties
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 23 New plantations in White varieties LIMARI 2023 - 2026 2023 2024 2025 2026 GROWTH IN WHITE VARIETIES 99.2 105.1 200.2 232.5 MAIPO COLCHAGUA 637 CURICO TOTAL NEW HA MAULE
Slide 24: New Product Launch with Lower Alcohol Content
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 24 New Product Launch WITH LOWER ALCOHOL CONTENT 13.6% 14.4% 1H24 1H25 THOUSANDS OF THOUSANDS OF WINE CATEGORY % OVER SALES % OVER SALES 9LC 1H24 9LC 1H25 1,591 13.6 % 1,677 14.4 % LOW ALCOHOL CONTENT
Slide 25: Other aspects to highlight
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 25 Other aspects to highlight
Slide 26: 1. Mix Premium 1H25
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 26 1. Mix Premium 1H25 +210 BP IN PRINCIPAL + INVEST MIX (ONLY WINE) VAR 15.9% DIABLO VALUE VAR 54.5% +210 bp 56.6% 7.3% BONTERRA VALUE VAR 1H24 1H25 177.0% DON MELCHOR PRINCIPAL + INVEST OTHERS VALUE
Slide 27: 2. Markets
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 27 2. Markets AS OF 1H25 +10% Among all markets, the only one This is offset by strong growth in experiencing a significant decline in the Principal and Invest Mix in value is Japan, in Varietal and Lower that market. Category.
Slide 28: 2. Performance in Main Markets
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 28 2. Performance in Main Markets ONLY WINE VAR % VALUE 2Q24 3Q24 4Q24 1Q25 2Q25 UK 17.5% 16.1% 14.5% 0.3% 1.8% THE 5 MAIN COUNTRIES REPRESENT CHILE 8.8% 5.7% 5.8% 3.8% 4.5% US 28.4% (2.3%) 12.4% 8.7% (8.8%) 70.1% OF WINE SALES AS OF BRAZIL 28.6% 12.0% 8.
Slide 29: 2. Performance in Main Markets
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 29 2. Performance in Main Markets ONLY WINE 1H25 VAR % VALUE UK 1.1% THE 5 MAIN COUNTRIES REPRESENT CHILE 4.2% US (0.2%) 72.2% OF WINE SALES AS OF BRAZIL 9.0% 1H25 MEXICO 5.7% 1H25 CONCLUSIONS: • Of the top twenty wine markets, five grew at rates above 25
Slide 30: 3. Brands
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 30 3. Brands AS OF 1H25 +4.5% Trivento Reserve Bonterra registered without further a 7.3% growth in growth in value. value. +7.3% The Casillero del Diablo(*) 0.1% universe grows in value by 4.5%. (*) The Casillero del Diablo universe refers to the CDD bra
Slide 31: 3. Performance in Main Brands
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 31 3. Performance in Main Brands ONLY WINE VAR % VALUE 2Q24 3Q24 4Q24 1Q25 2Q25 CASILLERO DEL DIABLO 22.3% 8.2% 17.5% 4.8% 1.2% THE 7 MAIN BRANDS FRONTERA 20.3% (7.7%) 5.9% (6.6%) (2.7%) REPRESENT 64.2% RESERVADO 17.2% 15.1% 8.8% 6.0% 2.1% TRIVENTO RESERV
Slide 32: 3. Performance in Main Brands
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 32 3. Performance in Main Brands ONLY WINE 1H25 VAR % VALUE CASILLERO DEL DIABLO 2.8% THE 7 MAIN BRANDS FRONTERA (4.7%) REPRESENT 64.5% RESERVADO 3.6% TRIVENTO RESERVE 0.1% ISLA NEGRA SEASHORE (3.0%) OF WINE SALES AS OF 1H25 DIABLO 15.9% BONTERRA 7.3% 1H2
Slide 33: 4. Don Melchor
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 33 4. Don Melchor AS OF 1H25 +177% Don Melchor ranks No. 12 among brands (by value), with a 177.0% growth in 1H25.
Slide 34: Outlook for 2H25 and the end of the year
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 34 Outlook for 2H25 and the end of the year
Slide 35: Expected volume growth in main brands
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 35 Significant growth in volume is expected in all the main brands of the Premium and Superior Category (CDD, Trivento and Bonterra). Slight growth in Varietal and Lower Categories. Strengthening of our Pirque business unit with the successful opening of
Slide 36: 2Q25 and 1H25 Results
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 36 CHAPTER 02 2Q25 and 1H25 Results O SVA L D O S O L A R , C FO
Slide 37: Other income and expenses by function
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 37 Other income and expenses by function THAT AFFECT THE OPERATING RESULT (MILLIONS OF CLP$) 2Q24 2Q25 VAR % 1H24 1H25 VAR % OPERATING PROFIT (EBIT) 33,241 28,161 (15.3%) 54,753 49,640 (9.3%) WRITE-OFFS (445) (702) 57.7% (839) (2,854) 240.2% OTHER INCOME
Slide 38: Operating Profit (EBIT)
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 38 Operating Profit (EBIT) QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 54,753 (15.3%) 39,311 49,640 33,241 34,780 29,757 24,579 28,161 25,654 27,860 vs 2Q24 25,955 21,511 24,583 21,479 18,622 VAR 12,154 6,632 1Q 2Q 3Q 4Q 1H24 1H25 (9.3%) vs 1H24 2022 202
Slide 39: EBIT Margin
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 39 EBIT Margin QUARTERLY DEVELOPMENT VAR (250 bp) 14.0% 13.9% 13.8% 13.4% 12.3% 11.5% 11.6% 10.9% 12.1% 10.4% vs 2Q24 11.1% 11.0% 10.7% 10.3% 8.7% 6.0% VAR 4.1% 1Q 2Q 3Q 4Q 1H24 1H25 (140 bp) vs 1H24 2022 2023 2024 2025 1H25 EBIT Margin*: By adding the ex
Slide 40: EBITDA
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 40 EBITDA QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 70,534 (12.1%) 67,268 49,017 41,769 43,227 36,707 34,195 37,435 vs 2Q24 32,050 36,307 30,560 33,625 32,187 28,765 26,413 20,286 VAR (4.6%) 13,014 1Q 2Q 3Q 4Q 1H24 1H25 vs 1H24 2022 2023 2024 2025 EBIT
Slide 41: EBITDA Margin
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 41 EBITDA Margin QUARTERLY DEVELOPMENT VAR 18.0% (260 bp) 17.6% 17.3% 16.7% 15.9% 15.3% 14.8% 15.0% 14.6% 15.2% vs 2Q24 14.5% 14.5% 14.0% 14.0% 12.4% 10.1% VAR 8.0% 1Q 2Q 3Q 4Q 1H24 1H25 (110 bp) vs 1H24 2022 2023 2024 2025
Slide 42: Currency diversification
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 42 Currency diversification 2Q25 1.4% EXCHANGE RATE VARIATION CNY 2Q25 vs 2Q24 0.9% 5.0% ARG MXN 14.5% CLP 10.0% BRL 1.5% USD: 1.3% 1.6% NOK EUR: 6.8% 2.2% LIBRA: 7.2% SEK CYT INDEX BRL: (6.3%) 2.5% BASKET CAD MXN: (11.2%) 25.7% USD Currency diversificati
Slide 43: Non-operating Result
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 43 Non-operating Result AS OF 2Q25 (MILLIONS OF CLP$) 2Q25 2Q24 VAR ($) VAR (%) NET FINANCIAL EXPENSE (*) (4,087) (4,777) 690 (14.5%) EXCHANGE DIFFERENCE 486 370 116 31.3% NON OPERATING RESULT (**) (3,601) (4,407) 806 (18.3%) AFFILIATED COMPANIES 408 155
Slide 44: Non-operating Result
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 44 Non-operating Result** QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) (9,311) VAR (7,511) (18.3%) (7,265) vs 2Q24 (5,119) (4,903) (4,407) (4,402) (4,009) (4,269) (3,910) (3,601) (3,419) (3,608) (3,063) VAR (1,902) (19.3%) (1,156) 1Q 2Q 3Q 4Q 1H24 1H25 vs 1H2
Slide 45: Positive perspectives for Non-operating Result
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 45 Positive perspectives for NON-OPERATING RESULT * The Central Bank will reach its inflation objective only in the first half of 2026. Accumulated Inflation 2025 v/s 2024 105% 104.4% 104% 103% 102.2% 102% 101% 101.4% 100% 99% 98% 97% 96% 95% Dic Ene Feb
Slide 46: Positive perspectives for Non-operating Result
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 46 Positive perspectives for NON-OPERATING RESULT 01. S H O R T-T E R M B A S E I N T E R E S T R AT E 02. D E BT A M O U N T 14% Reduction in absolute terms of 12% CLP$ 11,467 M, without 10% considering the exchange rate 8% effect (June 2025 vs. June 202
Slide 47: Net Financial Expense
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 47 Net Financial Expense QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR (14.5%) (9,910) (5,133) (5,178) (7,862) (4,858) (4,777) (4,944) vs 2Q24 (4,656) (4,454) (4,087) (3,775) VAR (3,707) 1Q 2Q 3Q 4Q 1H24 1H25 (20.7%) vs 1H24 2023 2024 2025 Net Financial Ex
Slide 48: Net Profit and Net Margin
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 48 Net Profit (Millions of CLP$) and Net Margin (%) 11.8% (4.9%) 10.1% 98,810 (60 bp) 10.0% 87,213 8.1% 77,994 77,420 7.8% 7.2% 5.2% 43,126 34,491 32,785 2020 2021 2022 2023 2024 1H24 1H25 NET PROFIT NET MARGIN CONCLUSIONS: • The decrease in profit of CLP
Slide 49: Return on Invested Capital
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 49 Return on Invested Capital ROIC (%) 11.3% 10.3% 9.1% 8.0% 7.4% 7.6% 0.5% 5.3% 0.5% 2020 2021 2022 2023 2024 jun-24 jun-25 2023* and 1H24* +0.5%: WITHOUT THE JUDICIAL CONTINGENCY IN THE US. ROIC: (Operating Margin – Taxes + Exchange Differences) / (Equi
Slide 50: Lower Net Financial Debt
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 50 Lower Net Financial Debt OF THE COMPANY (MILLIONS OF CLP$) (12,034) 406,106 389,255 394,072 355,460 321,915 240,573 201,374 2020 2021 2022 2023 2024 jun-24 jun-25 The CLP$12,034 million decline is due to a reduction in debt in absolute terms (CLP$ 11,4
Slide 51: Low Level of Indebtedness
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 51 Low Level of Indebtedness RELATIVE TO THE SIZE OF EQUITY FINANCIAL STRENGTH 1.2 0.61 0.63 0.55 0.57 0.53 0.54 0.36 2020 2021 2022 2023 2024 jun-24 jun-25 NET DEBT RATIO COVENANTS Net Debt Ratio: (Other Current and Non-Current Financial Liabilities – Ca
Slide 52: Coverage of Financial Expenses
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 52 Coverage of Financial Expenses AS OF JUNE 2025 FINANCIAL STRENGTH 12.3 9.8 8.8 6.7 6.4 5.6 4.6 2.5 2020 2021 2022 2023 2024 jun-24 jun-25 FINANCIAL COST COVERAGE RATIO COVENANTS (*) Financial Costs Coverage Ratio: (Gross Profit + Distribution Costs + A
Slide 53: Net Financial Debt over EBITDA
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO 53 Net Financial Debt (*) over EBITDA 4.1 3.0 2.6 2.4 2.3 2.5 1.5 1.4 2020 2021 2022 2023 2024 jun-24 jun-25 NET FINANCIAL DEBT / EBITDA COMPANY OBJECTIVE (*) Net Financial Debt: Debt Capital Including Related Derivatives – Cash and cash equivalent.
Slide 54: 1H25 Results Presentation
1H25 RESULTS PRESENTATION VIÑA CONCHA Y TORO