Vina Concha Y Toro S.a. · BCS:CONCHATORO
Vina Concha Y Toro — H1 2026 Earnings Presentation
30 slides from Vina Concha Y Toro's earnings presentation, August 2026
Slide 1: Results Presentation
Results Presentation
Slide 2: Forward-Looking Statements
1H26 Results Presentation VIÑA CONCHA Y TORO 2 This document may contain certain forward-looking statements regarding the Company’s financial Forward-Looking condition, results of operations and business, as well as specific plans and objectives relating to these matters. Forward-looking statements
Slide 3: Index
1H26 Results Presentation VIÑA CONCHA Y TORO 3 01 Index 2Q/1H26 Overview 02 Sales 03 Results 04 Key Developments 05 Q&A
Slide 4: 2Q/1H26 Overview
1H26 Results Presentation VIÑA CONCHA Y TORO 4 2Q/1H26 Overview Osvaldo Solar - CFO
Slide 5: 2Q26 - A quarter of disciplined execution, with a focus on profitability and value
1H26 Results Presentation VIÑA CONCHA Y TORO 5 2Q26 - A quarter of disciplined execution, with a focus on profitability and value. C O ST M A R K ET P O S I T I V E O U T LO O K E F F IC IE NC IE S R EC OV E RY FOR 2H Cost efficiencies amid lower Stronger sales That performance we would executeacros
Slide 6: Sales
1H26 Results Presentation VIÑA CONCHA Y TORO 6 Sales Claudia Cavada – Head of IR
Slide 7: 2Q26 – Consolidated Sales
1H26 Results Presentation VIÑA CONCHA Y TORO 7 Sales Analysis % CHANGE VS 2025 2Q26 – Consolidated Sales C O N S O L I D AT E D S A L E S 1Q26 VS 1Q25 2Q26 VS 2Q25 1H26 VS 1H25 VOLUME -7.5% -2.8% -5.0% C L P VA LU E -7.8% -4.7% -6.2% C O N S TA N T C U R R E N C Y -6.1% -2.7% -5.3% • Sales and volum
Slide 8: Markets with Positive Momentum
1H26 Results Presentation VIÑA CONCHA Y TORO 8 Sales Analysis CLP VALUE % CHANGE VS 2025 Markets with Positive Momentum 1Q26 2Q26 1H26 BRA + MEX + CANADA +15.4% +17.7% 16.7% CHILE -1.5% +0.5% -0.4% L ATA M + A F R I C A -29.3% -7.8% -17.6% U.S. -32.4% -13.4% -23.6% • Acceleration in high-performing
Slide 9: 2Q26 Highlights
1H26 Results Presentation VIÑA CONCHA Y TORO 9 2Q26 Highlights BRAZIL MEXICO CANADA 21.4% H 1 V A R % 13.7% H 1 V A R % 6.3% H 1 V A R % Q1 ($) Q2 ($) H1 ($) BRAZIL 19.5% 22.4% 21.4% MEXICO 14.3% 13.2% 13.7% CANADA 6.5% 6.1% 6.3%
Slide 10: Softer Markets
1H26 Results Presentation VIÑA CONCHA Y TORO 10 Sales Analysis CLP VALUE % CHANGE VS 2025 Softer Markets 1Q26 2Q26 1H26 EUROPE -1.4% -6.8% -4.3% ASIA -21.8% -29.9% -26.7% BEER & SPIRITS -12.2% -23.8% -17.2% EUROPE ASIA BEER & SPIRITS • Heat waves • The yen’s appreciation in Japan weighed on • The Mi
Slide 11: United States
1H26 Results Presentation VIÑA CONCHA Y TORO 11 Sales Analysis U.S. - CLP VALUE % CHANGE VS 2025 United States 1Q26 2Q26 1H26 SALES CLP -32.2% -13.9% -23.7% SALES USD -26.9% -9.5% -18.7% CyT DEPLETIONS -11.8% -0.3% -6.0% • Shipments — our sales to distributors — moderated their decline in the quarte
Slide 12: Sales Analysis
1H26 Results Presentation VIÑA CONCHA Y TORO Sales Analysis U.S. - CLP VALUE % CHANGE VS 2025 DEPLETIONS – ALL BRANDS DEPLETIONS – PRIORITY BRANDS Q1 Q2 H1 Q1 Q2 H1 -0.3% 15.5% -6.0% 7.2% -11.8% -2.1% • Depletions — distributor sales — have stabilized following the recent distributor change. • Prior
Slide 13: Premiumization: mix decline in 2Q25
1H26 Results Presentation VIÑA CONCHA Y TORO 13 Premiumization: mix decline in 2Q25 54.3% 2Q25 50.8% 2Q26 • Brand mix decline related to changes in market mix. • Markets that grew strongly in Latin America carry a lower mix than Europe and the U.S.
Slide 14: Results
1H26 Results Presentation VIÑA CONCHA Y TORO 14 Results Osvaldo Solar - CFO
Slide 15: Operating Income (EBIT)
1H26 Results Presentation VIÑA CONCHA Y TORO 15 Operating Income (EBIT) QUARTERLY EVOLUTION (CLP$ MILLION) -7.9% 49,640 39,311 41,150 33,241 2Q26 vs 2Q25 31,948 30,121 28,161 -29.1% 21,511 25,926 25,654 23,760 1Q26 vs 1Q25 21,479 15,225 -17.1% 1H26 vs 1H25 1Q 2Q 3Q 4Q 1H25 1H26 2024 2025 2026
Slide 16: Operating Margin (EBIT Margin)
1H26 Results Presentation VIÑA CONCHA Y TORO 16 Operating Margin (EBIT Margin) QUARTERLY EVOLUTION 14.0% 13.9% 10.9% 9.7% -40 bps 12.0% 11.8% 2Q26 vs 2Q25 11.5% -240 bps 10.4% 11.1% 11.0% 10.3% 8.8% 1Q26 vs 1Q25 7.9% -130 bps 1H26 vs 1H25 1Q 2Q 3Q 4Q 1H25 1H26 2024 2025 2026
Slide 17: EBITDA
1H26 Results Presentation VIÑA CONCHA Y TORO 17 EBITDA QUARTERLY EVOLUTION (CLP$ MILLION) 50,996 68,027 58,919 -5.5% 42,925 41,843 42,891 2Q26 vs 2Q25 37,209 30,818 35,161 34,353 -22.9% 1Q26 vs 1Q25 29,381 23,758 -13.4% 1H26 vs 1H25 1Q 2Q 3Q 4Q 1H25 1H26 2024 2025 2026 EBITDA: Profit (loss) from ope
Slide 18: EBITDA Margin
1H26 Results Presentation VIÑA CONCHA Y TORO 18 EBITDA Margin QUARTERLY EVOLUTION 15.0% -10 bps 18.1% 18.0% 16.7% 13.8% 15.9% 15.2% 14.7% 2Q26 vs 2Q25 15.1% 14.8% -240 bps 14.3% 12.3% 1Q26 vs 1Q25 -120 bps 1H26 vs 1H25 1Q 2Q 3Q 4Q 1H25 2025 1H26 2026 2024 2025 2026
Slide 19: Currency diversification
1H26 Results Presentation VIÑA CONCHA Y TORO 19 EXCHANGE RATE CHANGE Currency diversification 2Q26 vs 2Q25 2Q26 USD: -4.8% GBP -2.0% 25.7% EUR: -2.9% ARS0.6% GBP: -4.4% CNY1.2% NOK1.6% BRL: +6.7% CY T BASKET INDE X MXN: +6.8% SEK2.1% CAD2.7% MXN Currency diversification cushions the impact of 6.0% t
Slide 20: Non-Operating Result
1H26 Results Presentation VIÑA CONCHA Y TORO 20 Non-Operating Result AS OF 2Q26 (CLP$ MILLION) 2Q26 2Q25 VAR ($) VAR (%) NET FINANCE EXPENSE (*) (4,735) (4,087) (648) 15.9% FOREIGN EXCHANGE DIFFERENCES 1,246 486 760 156.5% NON-OPERATING RESULT (**) (3,489) (3,601) 112 (3.1%) ASSOCIATES (76) 408 (483
Slide 21: Positive outlook for Non-Operating Result
1H26 Results Presentation VIÑA CONCHA Y TORO 21 Positive outlook for NON-OPERATING RESULT Cumulative Inflation 2026 vs. 2025 104.0% 103.4% 103.0% 102.7% 102.0% 101.4% 101.0% 100.0% 99.0% 98.0% 97.0% 96.0% 95.0% Dec Jan Feb Mar Apr May May Jun Jul Aug Sep Oct Oct Nov Dec 2025 2026 2025 SWAP BENEFITS:
Slide 22: Net Income
1H26 Results Presentation VIÑA CONCHA Y TORO 22 Net Income OF THE COMPANY (CLP$ MILLION) +2.1% 2Q26 vs 2Q25 87,213 77,420 67,220 -14.0% 43,126 (4,599) 32,785 28,186 2022 2023 2024 2025 1H25 1H26 The CLP$67,220 M reported in 2025 includes extraordinary write-offs of CLP$8,188 M.
Slide 23: Leverage
1H26 Results Presentation VIÑA CONCHA Y TORO 23 Leverage RELATIVE TO EQUITY 1.2 0.65 0.61 0.57 0.53 0.54 0.49 2022 2023 2024 2025 Jun-25 Jun-26 NET DEBT RATIO COVENANTS Net debt ratio: (Other Current and Non-Current Financial Liabilities – Cash) / Equity
Slide 24: Interest Coverage
1H26 Results Presentation VIÑA CONCHA Y TORO 24 Interest Coverage AS OF JUNE 2026 8.8 7.1 6.7 6.8 6.4 4.6 2.5 2022 2023 2024 2025 Jun-25 Jun-26 INTEREST COVERAGE RATIO COVENANTS (*) Interest Coverage Ratio: (Gross Profit + Distribution Costs + Administrative Expenses + Depreciation + Amortization) /
Slide 25: Net Financial Debt to EBITDA
1H26 Results Presentation VIÑA CONCHA Y TORO 25 Net Financial Debt (*) to EBITDA 4.1 3.1 2.4 2.3 2.3 2.5 2.5 2022 2023 2024 2025 Jun-25 Jun-26 NET FINANCIAL DEBT / EBITDA COMPANY TARGET (*) Net Financial Debt: Debt Principal Including Related Derivatives - Cash
Slide 26: Key Developments
1H26 Results Presentation VIÑA CONCHA Y TORO 26 Key Developments Osvaldo Solar - CFO
Slide 27: Creation of Viña Amelia; Acquisition of Maison Mirabeau
1H26 Results Presentation VIÑA CONCHA Y TORO 27 Creation of Viña Amelia. Acquisition of Maison Mirabeau winery, in France. New distributor Reyes in the U.S. T O P #3 Viña Concha y Toro ranked #3 in sales and #4 in volume New campaign globally, in 2025. Casillero del Diablo.
Slide 28: 1H26 Results Presentation
1H26 Results Presentation VIÑA CONCHA Y TORO 28
Slide 29: Q&A
1H26 Results Presentation VIÑA CONCHA Y TORO 29 Q&A Claudia Cavada – Head of IR Osvaldo Solar - CFO
Slide 30: OT i Ap Bane fi
s OT i Ap Bane fi CONCHA TORO ‘ ae vissl Marpo aaa: VINA DON MELCHOR He TRIVENTO BeNTERRA MI