Vina Concha Y Toro S.a. · BCS:CONCHATORO
Vina Concha Y Toro — FY2024 Earnings Presentation
46 slides from Vina Concha Y Toro's earnings presentation, Mar 11, 2025
Slide 1: Viña Concha y Toro
ss gone Vina CONCHA Y Toro FAMILY OF NEW WORLD WINERIES
Slide 2: Index
INDEX 01. 2024 Milestones EDUARDO GUILISASTI, CEO 02. 2025 Outlook EDUARDO GUILISASTI, CEO 03. 4Q24 and 2024 Results OSVALDO SOLAR, CFO 04. Non-financial Results OSVALDO SOLAR, CFO
Slide 3: 2024 Milestones
3 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 01: 2024 MILESTONES EDUARDO GUILISASTI, CEO 2024 Milestones 01
Slide 4: Highlights 2024 vs 2023
Highlights 2024 vs 2023 CHAPTER 01: 2024 MILESTONES CONSOLIDATED SALES PREMIUMIZATION P + I +14.5% up to CLP$ 958,630 m 52.6% OTHERS PORTFOLIO P+I MIX (+70 bp) GROSS PROFIT GROSS MARGIN EBITDA EBITDA MARGIN 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O +20.4% 38.9% +58.6% 15.8% CLP$ 37
Slide 5: Don Melchor
DON MELCHOR CHAPTER 01: 2024 MILESTONES 2024 1987 2021 One of the greatest 1st 35th 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O milestones in Viña Concha y Toro's history: the prestigious magazine Wine harvest: harvest: Spectator honored Don Melchor as the number 1 wine in its top 10
Slide 6: Don Melchor: Top 1 in 2024
6 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 01: 2024 MILESTONES 2019 Becomes Viña Don Melchor 4 years in Top10 Top 1 2024
Slide 7: Don Melchor accomplishment
CHAPTER 01: 2024 MILESTONES This accomplishment serves as a testament to the excellence of our 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O wines and our capacity to establish solid, global brands. 7
Slide 8: Don Melchor and its line extensions
8 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 01: 2024 MILESTONES AND ITS LINE EXTENSIONS
Slide 9: Casillero del Diablo
CHAPTER 01: 2024 MILESTONES Casillero del Diablo VOLUME VARIATION (9LC) BRAND / RANGE VAR % 2024 CASILLERO DEL DIABLO* 5.6% CASILLERO DEL DIABLO DEVILS CARNAVAL 223.9% DIABLO 11.8% Total 8.4% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O *CASILLERO DEL DIABLO INCLUDES: CDD RESERVA, BEL
Slide 10: Alcohol industry figures in 2024
Alcohol industry figures in 2024 CHAPTER 01: 2024 MILESTONES COMPANY VAR % VALUE - FY2024 VAR % VOLUME - FY2024 WINE VIÑA CONCHA Y TORO 14.5% 3.3% COMPETITOR 1 11.8% 0.9% COMPETITOR 2 5.1% (3.6%) COMPETITOR 3 1.7% - COMPETITOR 4 (1.8%) 6% COMPETITOR 5 (2.6%) - COMPETITOR 6 (8%) (3.6%) 2 0 2 4 RES U
Slide 11: Sales per Value – Only Wine
Sales per Value – Only Wine CHAPTER 01: 2024 MILESTONES QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) 893,314 VAR 9.7% 806,545 772,689 VS 4Q23 VALUE 262,284 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 224,512 239,190 209,193 208,881 214,964 191,553 226,537 197,835 189,050 161,935 VAR 146,
Slide 12: Sales per Volume – Only Wine
Sales per Volume – Only Wine CHAPTER 01: 2024 MILESTONES QUARTERLY DEVELOPMENT (THOUSANDS OF 9LC) 30,756 30,373 VAR 3.9% 29,174 VS 4Q23 VOL 8,611 8,293 7,705 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 7,944 8,290 8,016 6,504 7,667 7,581 7,459 6,476 VAR 5,758 1Q 2Q 3Q 4Q 2022 2023 20
Slide 13: EBIT improvement
EBIT improvement CHAPTER 01: 2024 MILESTONES QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) 119,718 VAR 104,873 41.1% vs 4Q23 72,189 6,920 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 39,311 33,241 34,780 24,579 25,654 29,757 25,955 27,860 VAR 24,583 21,511 83.4% 18,622 6,632 12,154 1Q 2Q 3
Slide 14: Net Profit improvement
Net Profit improvement CHAPTER 01: 2024 MILESTONES QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) 87,213 VAR 77,420 48.2% 48,179 vs 4Q23 5,052 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 25,225 25,072 23,201 17,677 21,965 17,857 21,751 21,109 12,740 16,722 16,913 VAR 3,152 1Q 6,340 2Q 3Q 4
Slide 15: Growth in all geographic areas
Growth in all geographic areas CHAPTER 01: 2024 MILESTONES PERFORMANCE IN MAIN MARKETS – ONLY WINE THE 5 MAIN COUNTRIES REPRESENT VAR % VALUE 4Q23 1Q24 2Q24 3Q24 4Q24 2024 74.1% UK 34.0% 34.6% 17.5% 16.1% 14.5% 19.5% OF WINE SALES AS OF 4Q24 CHILE 12.2% 5.8% 8.8% 5.7% 5.8% 2.4% 2 0 2 4 RES U LT S P
Slide 16: Growth of main brands
Growth of main brands CHAPTER 01: 2024 MILESTONES PERFORMANCE IN MAIN BRANDS – ONLY WINE THE 7 MAIN BRANDS REPRESENT VAR % VALUE 4Q23 1Q24 2Q24 3Q24 4Q24 4Q24 CASILLERO DEL DIABLO 16.3% 32.8% 22.3% 8.2% 17.5% 19.1% 64.0% FRONTERA (0.6%) 91.6% 20.3% (7.7%) 5.9% 18.9% OF WINE SALES AS OF 4Q24 TRIVENTO
Slide 17: Robust beer growth
Robust beer growth CHAPTER 01: 2024 MILESTONES KROSS AND ODISSEA Kross Brewery grew in 2024 thanks to its new product: Odissea. 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 33.6% VS 2023 VALUE 17
Slide 18: 2024 Premium Mix
2024 Premium Mix CHAPTER 01: 2024 MILESTONES +30 BP IN PRINCIPAL + INVEST MIX (ONLY WINE) VAR 19.1% CASILLERO DEL DIABLO VALUE VAR 56.2% 56.5% 19.2% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O TRIVENTO RESERVE VALUE VAR 2023 2024 20.4% DIABLO PRINCIPAL + INVEST OTHERS VALUE 18
Slide 19: Operating efficiency
Operating efficiency CHAPTER 01: 2024 MILESTONES OF THE COMPANY Initiated in September 2022, this process was set to achieve an impact of CLP$ 20,000 million by the end of 2025. SEPTEMBER 2022 CLP$ 20,237 m CLP$ 15,416 m NET SAVINGS AT END SAVINGS ELIMINATING 2 0 2 4 RES U LT S P RES ENT A TION V IÑ
Slide 20: Decrease of the Company's Financial Debt
Decrease of the Company’s CHAPTER 01: 2024 MILESTONES FINANCIAL DEBT • The debt principal decreased by CLP$60,247 m in 2024. A closing exchange rate effect of CLP$ 26,452 m as of December 31 partially offset the impact. • The Net Financial Debt as of December 31, 2024, would have been CLP$ 339,541 m
Slide 21: 2025 Outlook
21 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 02: 2025 OUTLOOK EDUARDO GUILISASTI, CEO 2025 Outlook 02
Slide 22: Growth sources for 2025: Innovations in Casillero del Diablo
22 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 02: 2025 OUTLOOK Growth sources for 2025 INNOVATIONS IN CASILLERO DEL DIABLO
Slide 23: Growth sources for 2025: Innovations in Bonterra
CHAPTER 02: 2025 OUTLOOK Growth sources for 2025 INNOVATIONS IN BONTERRA 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O BOURBON HIGH – ALC NON BOURBON BARRE ENABLE THE BONTERRA BARREL-AGED 16.5% -AGED (Re-launch) BRAND TO REACH YOUNG CONSUMER 23
Slide 24: Growth sources for 2025: Innovations in other brands
24 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 02: 2025 OUTLOOK INNOVATIONS IN OTHER BRANDS Growth sources for 2025
Slide 25: Growth sources for 2025: New origins
25 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 02: 2025 OUTLOOK NEW ORIGINS MEXICO Growth sources for 2025 SPAIN
Slide 26: Growth sources for 2025: New Wine Center
CHAPTER 02: 2025 OUTLOOK Growth sources for 2025 CONSUMER EXPERIENCES 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O NEW WINE CENTER Complete remodelling of the Pirque tourist center 26
Slide 27: Growth sources for 2025: Diablo Wine & Fire Restaurant
CHAPTER 02: 2025 OUTLOOK Growth sources for 2025 CONSUMER EXPERIENCES 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O DIABLO WINE & FIRE RESTAURANT Opening in January of the first Casillero del Diablo restaurant at the MUT (Mercado Urbano Tobalaba) 27
Slide 28: New global scenario
CHAPTER 02: 2025 OUTLOOK New global scenario 01. 02. No major risks foreseen for Opportunities will emerge; our country. we must seize them. 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 03. 04. Tax increase risk in some Aggressive agenda to push markets. sustainability in some markets
Slide 29: Perspective
29 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 02: 2025 OUTLOOK 2025 Perspective Growth of sales between 3% and 8%.
Slide 30: 4Q24 and 2024 Results
30 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 03: 4Q24 AND 2024 RESULTS OSVALDO SOL AR, CFO 4Q24 and 2024 Results 03
Slide 31: EBIT Margin
EBIT Margin CHAPTER 03: 4Q24 AND 2024 RESULTS QUARTERLY DEVELOPMENT VAR 13.8% 14.0% 11.6% 13.9% 13.4% 12.0% 12.5% 320 bp 11.1% 12.1% 10.4% vs 4Q23 11.0% 10.7% 8.6% 50 bp refined 8.7% 0.8% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 6.0% VAR 4.1% 470 bp 1Q 2Q 3Q 4Q 2022 2023 2024 vs 2
Slide 32: EBITDA
EBITDA CHAPTER 03: 4Q24 AND 2024 RESULTS QUARTERLY DEVELOPMENT (MILLIONS OF CLP$) VAR 151,375 135,227 33.5% 102,343 vs 4Q23 6,920 12.1% refined 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 48,464 41,324 33,216 43,227 32,050 37,467 VAR 36,307 58.6% 31,860 28,371 26,413 33,851 19,689 13
Slide 33: EBITDA Margin
EBITDA Margin CHAPTER 03: 4Q24 AND 2024 RESULTS QUARTERLY DEVELOPMENT VAR 18.0% 310 bp 17.4% 17.1% 16.7% 15.5% 15.8% 15.1% 14.3% 15.2% 13.8% 14.3% 14.0% 12.2% vs 4Q23 0.8% 12.4% 50 bp refined 9.8% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 8.0% VAR 440 bp 1Q 2Q 3Q 4Q 2022 2023 2024
Slide 34: Currency diversification
Currency diversification CHAPTER 03: 4Q24 AND 2024 RESULTS 4Q24 0.9% CNY 0.5% 7.2% EXCHANGE RATE VARIATION ARG MXN 14.5% 4Q24 vs 4Q23 CLP 1.4% 4.4% NOK BRL 1.9% SEK 2.8% 7.1% CAD USD: 8.7% EUR: 6.7% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O GBP: 11.0% CYT INDEX BASKET 28.6% USD 31.
Slide 35: Non-operating Result
Non-operating Result CHAPTER 03: 4Q24 AND 2024 RESULTS AS OF 4Q24 (MILLIONS OF CLP$) 4Q24 4Q23 VAR ($) VAR (%) NET FINANCIAL EXPENSE (*) (4,858) (4,656) (202) (4.3%) EXCHANGE DIFFERENCE 456 (2,610) 3,065 117.5% NON OPERATING RESULT (**) (4,402) (7,265) 2,863 39.4% 2 0 2 4 RES U LT S P RES ENT A TION
Slide 36: Non-Operating Result
Non-Operating Result ** CHAPTER 03: 4Q24 AND 2024 RESULTS QUARTERLY DEVELOPMENT – TREND REVERSAL (MILLIONS OF CLP$) -19,717 -17,722 -7,265 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O -5,119 -4,903 -4,407 -4,402 -4,009 -4,269 -3,608 -3,419 -3,063 -1,156 -1,902 1Q 2Q 3Q 4Q 2023 2024 20
Slide 37: Positive perspectives for non-operating result
Positive perspectives for CHAPTER 03: 4Q24 AND 2024 RESULTS NON-OPERATING RESULT * The Central Bank will reach its inflation objective only in the first half of 2026. Accumulated Inflation 2024 v/s 2023 107% 104.8% 105% 104.4% 103% 102.8% 101% 99% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y
Slide 38: Positive perspectives: interest rate, debt, exchange rate
Positive perspectives CHAPTER 03: 4Q24 AND 2024 RESULTS NON-OPERATING RESULT 01. INTEREST RATE 02. DEBT AMOUNT Decrease in absolute terms of 14% CLP$ 60,247 million without 12% considering the exchange rate 10% effect. 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 8% 5.36% 6% 4% 4.18%
Slide 39: Net Profit and Net Margin
Net Profit (millions of CLP$) and Net Margin (%) CHAPTER 03: 4Q24 AND 2024 RESULTS 11.8% 98,810 10.1% 10.0% 8.1% 87,213 8.0% 77,994 77,420 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 52,500 5.2% 43,126 2019 2020 2021 2022 2023 2024 NET PROFIT NET MARGIN 39
Slide 40: Return on Invested Capital
Return on Invested Capital CHAPTER 03: 4Q24 AND 2024 RESULTS ROIC (%) 11.3% 10.3% 9.1% 8.0% 7.2% 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 5.3% 0.5% 2019 2020 2021 2022 2023 2024 2023* +0,5%: WITHOUT THE JUDICIAL CONTINGENCY IN THE US ROIC: (Operating Margin – Taxes + Exchange Diff
Slide 41: Low Level of Indebtedness
Low Level of Indebtedness CHAPTER 03: 4Q24 AND 2024 RESULTS RELATIVE TO THE SIZE OF EQUITY FINANCIAL STRENGTH 1.2 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 0.61 0.55 0.53 0.54 0.52 0.36 2019 2020 2021 2022 2023 2024 NET DEBT RATIO COVENANTS Net Debt Ratio: (Other Current and Non-Cu
Slide 42: Coverage of Financial Expenses
Coverage of Financial Expenses CHAPTER 03: 4Q24 AND 2024 RESULTS AS OF DECEMBER 2024 FINANCIAL STRENGTH 12.3 9.8 8.8 8.5 6.4 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 4.6 2.5 2019 2020 2021 2022 2023 2024 FINANCIAL COST COVERAGE RATIO COVENANTS Financial Costs Coverage Ratio: (Gros
Slide 43: Net Financial Debt over EBITDA
Net Financial Debt (*) over EBITDA CHAPTER 03: 4Q24 AND 2024 RESULTS 4.1 2.6 2.5 2.4 2.3 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O 1.5 1.4 2019 2020 2021 2022 2023 2024 NET FINANCIAL DEBT / EBITDA COMPANY OBJECTIVE (*) Net Financial Debt: Debt Capital Including Related Derivatives
Slide 44: Non-financial Results
44 2 0 2 4 RES U LT S P RES ENT A TION V IÑA CO NCHA Y T O R O CHAPTER 04: NON-FINANCIAL RESULTS OSVALDO SOL AR, CFO Non-financial Results 04
Slide 45: Sustainability highlights
Sustainability highlights 0N C H A P T ECRH0A4P: TNEORN0-1F:I N2 A 2 4C IMAILL ERSETSOUNL ET S 01. 02. 03. 04. Viña Concha y Toro is the The sustainability strategy In 2024, our main The Company has taken most sustainable vineyard “Uncork a Better Future®" customers recognized our remarkable climate
Slide 46: Viña Concha y Toro
ss gone Vina CONCHA Y Toro FAMILY OF NEW WORLD WINERIES