Vina Concha Y Toro S.a. · BCS:CONCHATORO
Vina Concha Y Toro — Q1 2024 Earnings Presentation
31 slides from Vina Concha Y Toro's earnings presentation, Apr 30, 2024
Slide 1: Viña Concha y Toro
VINA CONCHA Y TORO
Slide 2: Agenda
AGENDA 01 1Q24 Highlights and Overview 02 1Q24 Sales Analysis OSVALDO SOLAR, CFO DANIELA LAMA, HEAD OF IR 03 1Q24 Results OSVALDO SOLAR, CFO
Slide 3: 1Q24 Highlights and Overview
3 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO CHAPTER 01: 1Q24 HIGHLIGHTS AND OVERVIEW OSVALDO SOLAR, CFO 1Q24 Highlights and Overview 01
Slide 4: Highlights 1Q24 vs 1Q23
CHAPTER 01: 1Q24 HIGHLIGHTS AND OVERVIEW HIGHLIGHTS 1Q24 vs 1Q23 CONSOLIDATED SALES PREMIUMIZATION +26.4% 49.9% P + I to CLP$ 206,170 M OTHERS M I X P O R T FO L I O P + I (-60 bp) GROSS PROFIT GROSS MARGIN EBITDA EBITDA MARGIN +31.5% 38.1% +118.0% 13.8% 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO
Slide 5: 2024 Overview
CHAPTER 01: 1Q24 HIGHLIGHTS AND OVERVIEW 2024 Overview Despite the ongoing global challenges faced by the wine and spirits industry, it is now evident that Viña Concha y Toro is a transformed company, more prepared to face the difficulties seen in recent years. We have successfully anticipated and i
Slide 6: EBIT + EBITDA
CHAPTER 01: 1Q24 HIGHLIGHTS AND OVERVIEW EBIT + EBITDA 1Q24 EE.RR. 1Q24 1Q23 VAR (%) (millones de Ch$) % / SALES % / SALES % / SALES CONSOLIDATED SALES 206,170 163,172 26.4% GROSS PROFIT 78,618 38.1% 59,786 36.6% 31.5% 150 bp SG&A (57,091) (27.7%) (52,728) (32.3%) 8.3% (460 bp) 1Q24 RESULTS PRESENTA
Slide 7: 1Q24 Sales Analysis
7 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO CHAPTER 02: 1Q24 SALES ANALYSIS DANIELA LAMA, HEAD OF IR 1Q24 Sales Analysis 02
Slide 8: Sales Revenue per Value
CHAPTER 02: 1Q24 SALES ANALYSIS SALES REVENUE P E R VA L U E VAR 26.4% 206.170 1,8% 1.8% 23.3% VALUE 5.3% PREMIUM AND UP VALUE 163,172 2.3% 2,3% 7.9% 40.8% VAR 92.9% 30.6% VARIETALS AND LOW VALUE 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 89.9% WINE (15.0%) NEW BUSINESS 1Q23 1Q23 1Q24 VALUE WINE N
Slide 9: Sales Revenue per Volume
CHAPTER 02: 1Q24 SALES ANALYSIS SALES REVENUE PER VOLUME VAR 8.9% VOL 7,151 5.6% 6,566 PREMIUM AND UP 9.5% VOL 12.3% 16.6% VAR 90.5% 12.4% VARIETALS AND LOW VOL 87.7% 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO WINE (16.1%) 1Q23 1Q24 NEW BUSINESS 1Q23 1Q24 VOL WINE NEW BUSINESS (THOUSAND OF 9LC) 9
Slide 10: Main Markets Performance
CHAPTER 02: 1Q24 SALES ANALYSIS MAIN MARKETS PERFORMANCE VAR % VALUE 1Q23 2Q23 3Q23 4Q23 1Q24 UK 2.0% 0.7% 14.4% 34.0% 34.9% CHILE 1.7% 0.3% (2.7%) (2.4%) (2.5%) US (15.6%) (18.5%) (5.5%) (19.4%) 36.7% BRAZIL 9.4% (12.5%) (0.7%) 0.8% 49.8% MEXICO 4.3% 7.9% (3.1%) 4.6% 33.7% 1Q24 RESULTS PRESENTATION
Slide 11: Main Brands Performance
CHAPTER 02: 1Q24 SALES ANALYSIS MAIN BRANDS PERFORMANCE VAR % VALUE 1Q23 2Q23 3Q23 4Q23 1Q24 CASILLERO DEL DIABLO (11.1%) (5.6%) (0.1%) 16.3% 33.2% DIABLO 12.4% 32.1% 14.0% 41.4% 28.5% FRONTERA (18.3%) (14.0%) (7.6%) (0.6%) 91.5% RESERVADO (2.3%) (12.4%) 8.5% (3.5%) 41.1% ISLA NEGRA SEASHORE 7.1% (4
Slide 12: Mix Premium 1Q24
CHAPTER 02: 1Q24 SALES ANALYSIS MIX PREMIUM 1Q24 - 6 0 B P I N P R I N C I PA L + I N V E S T M I X VAR (60) 33.2% BP CASILLERO DEL DIABLO VALUE 50.5% 49.9% VAR -250 bp 36.7% TRIVENTO RESERVE 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO P+I MIX VALUE WINE 91.5% 1Q23 1Q23 1Q24 FRONTERA VALUE PRINCIPA
Slide 13: EBIT Evolution per Quarter
CHAPTER 02: 1Q24 SALES ANALYSIS E B I T E VO LU T I O N PER QUARTER (MILLION OF CLP$) VAR 34,780 34.780 224.4% vs 1Q23 27,860 VALUE 21,511 21.511 18,622 18.622 CONCLUSIONS 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 12,154 6,632 • During this quarter, CLP$ 737 million of extraordinary costs and exp
Slide 14: EBIT Margin Evolution per Quarter
CHAPTER 02: 1Q24 SALES ANALYSIS E B I T M A R G I N E VO LU T I O N PER QUARTER VAR (MILLONES DE CH$) 13.4% 13,4% 640 bp vs 1Q23 10.7% 10.4% 8.7% 6.0% CONCLUSIONS 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 4.1% • Thus, without the extraordinary expenses and costs mentioned above, the margin would
Slide 15: 1Q24 Results
CHAPTER 03: 1Q24 RESULTS 15 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO OSVALDO SOLAR, CFO 1Q24 Results 03
Slide 16: Currency Diversification
CHAPTER 03: 1Q24 RESULTS 1 Q 2 4 C U R R E N C Y D I V E RS I F I C AT I O N 1.8% 0.5% CNY EXCHANGE RATE VARIATION 1Q24 vs 1Q23 ARG 6.1% MXN 15.2% CLP 1.6% 6.2% NOK BRL 2.2% 19.8% SEK 2.6% USD: 17.4% CAD EUR: 19.7% CYT GBP: 23.1% PORTFOLIO INDE X 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 27.2% 30
Slide 17: Non-Operating Result
CHAPTER 03: 1Q24 RESULTS 1 Q 2 4 N O N - O P E R AT I N G R E S U LT (MILLION OF CLP$) 1Q24 1Q23 VAR (CLP$) VAR (%) NET FINANCIAL EXPENSE (*) (5,133) (3,707) 1,426 38.5% EXCHANGE DIFFERENCES 230 644 (414) (64.3%) NON-OPERATING RESULT (**) (4,903) (3,063) 1,840 60.1% ASSOCIATED COMPANIES (65) (285) (
Slide 18: Net Profit and Net Margin
CHAPTER 03: 1Q24 RESULTS NET PROFIT (MILLION OF CLP$) AND NET MARGIN (%) 11.8% 98,810 10.1% 10.0% 87,213 8.0% 77,994 6.2% 52,500 5.2% 43,126 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 1.9% 12,740 3,152 2019 2020 2021 2022 2023 1Q23 1Q24 NET PROFIT NET MARGIN 18
Slide 19: Net Income Evolution per Quarter
CHAPTER 03: 1Q24 RESULTS N E T I N C O M E E VO LU T I O N PER QUARTER 25,225 23,201 21,965 21,109 17,677 VAR 304.2% 16,913 16,722 12.740 12,740 vs 1Q23 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 6,340 3,152 1Q 2Q 3Q 4Q 2022 2023 2024 2023* CLP$ 21,965 million: WITHOUT THE JUDICIAL CONTINGENCY IN
Slide 20: Return on Invested Capital (ROIC)
CHAPTER 03: 1Q24 RESULTS R E T U R N O N I N V E S T E D C A P I TA L ( R O I C ) 11.3% 10.3% 9.1% 7.2% 7.2% 5.7% 5.3% 0.5% 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 4.8% 2019 2020 2021 2022 2023 1Q23 MAR-23 1Q24 MAR-24 2023* +0.5%: WITHOUT THE JUDICIAL CONTINGENCY IN THE US. ROIC: (Operating Mar
Slide 21: Net Financial Debt
CHAPTER 03: 1Q24 RESULTS N E T F I N A N C I A L D E BT (MILLION OF CLP$) +91,383 389,255 397,738 321,915 306,355 266,898 240,573 201,374 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 2019 2020 2021 2022 2023 1Q23 MAR-23 1Q24 MAR-24 21 Net Financial Debt: Gross Financial Debt including the effect of
Slide 22: Low Level of Indebtedness Relative to Equity
CHAPTER 03: 1Q24 RESULTS LOW L E V E L O F I N D E BT E D N ES S R E L AT I V E T O T H E S I Z E O F E Q U I T Y FINANCIAL STRENGTH 1.2 0.68 0.61 0.55 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 0.52 0.53 0.48 0.36 2019 2020 2021 2022 2023 MAR-23 1Q23 MAR-24 1Q24 NET DEBT RATIO COVENANTS 22 Net De
Slide 23: Financial Costs Coverage
CHAPTER 03: 1Q24 RESULTS F I N A N C I A L C O S T S C OV E R A G E AS OF MARCH 2024 FINANCIAL STRENGTH 12.3 9.8 8.8 8.5 7.2 4.6 4.8 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 2.5 2019 2020 2021 2022 2023 MAR-23 1Q23 MAR-24 1Q24 FINANCIAL COST COVERAGE RATIO COVENANTS 23 Financial Costs Coverage R
Slide 24: Net Financial Debt over EBITDA
CHAPTER 03: 1Q24 RESULTS N E T F I N A N C I A L D E BT ( * ) OV E R E B I T DA COMPANY OBJECTIVE 4.1 3.6 2.6 2.6 2.4 2.5 1.5 1.4 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 2019 2020 2021 2022 2023 1Q23 MAR-23 1Q24 MAR-24 NET FINANCIAL DEBT / EBITDA COMPANY OBJECTIVE 24 Net Financial Debt *: Debt
Slide 25: Non-financial Results
1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO CHAPTER 03: 1Q24 RESULTS 25 Non-financial Results
Slide 26: Non-Financial Results
CHAPTER 03: 1Q24 RESULTS N O N - F I N A N C I A L R E S U LT S BRANDS ESG PROGRESS IN THE STRENGTH PERFORMANCE RESEARCH AND INNOVATION CENTER 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO 01 02 03 26
Slide 27: Strength in Our Brands
CHAPTER 03: 1Q24 RESULTS STRENGTH IN OUR BRANDS DRINKS INTERNATIONAL 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO The British media Drinks International EXPORTACION SELECTO FRUTAL highlighted Viña Concha y Toro as the LUXURY BRAND DIVISION first Chilean winery in the ranking, This new range inaugura
Slide 28: ESG Performance
CHAPTER 03: 1Q24 RESULTS ESG PERFORMANCE RESULTS DOW JONES SUSTAINABILITY INDEX SCORES AND PERCENTILE 2018-2022 93 88 89 83 73 76 71 74 74 69 71 66 2018 2019 2020 2021 2022 2023 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO BEVERAGE INDUSTRY VIÑA CONCHA Y TORO AVERAGE SCORE OF THE BEVERAGE PERCENTILE
Slide 29: Progress in the Research and Innovation Center
CHAPTER 03: 1Q24 RESULTS P R O G R E S S I N T H E R E S EA R C H A N D I N N OVAT I O N C E N T E R ARTIFICIAL INTELLIGENCE AGREEMENT 1Q24 RESULTS PRESENTATION VIÑA CONCHA Y TORO Viña Concha y Toro´s Research and Innovation Center signed an alliance with the prestigious French Institute for Researc
Slide 30: Perspectivas
CHAPTER 03: 1Q24 RESULTS P E RS P EC T I VA S 2 0 2 4 After a challenging and complex 2023, the measures taken, together with the strengths of brands, distribution and the quality of our wines, allow us to visualize a positive year 2024. 01. 02. 03. Double-digit sales growth in Improvements in net c
Slide 31: Viña Concha y Toro
VINA CONCHA Y TORO