Treasury Wine Estates Limited (TSRYF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Treasury Wine Estates FY24 full year results. All participants are in a listen only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Tim Ford, Managing Director and Chief Executive Officer. Please go ahead. Thank you and good morning, everybody. Thank you for joining the TWE 2024 Full Year Results Briefing. Joining me today is Stuart Boxer, our Chief Financial Strategy Officer, Tom King, the Managing Director of Penfolds, Ben Dollard from Napa Valley, our President of Treasury Americas, and for the first time, his debut, Angus Lilly, our recently appointed Managing Director of Treasury Premium Brands. I'm pleased to announce today our results for Fiscal 24, which was a year that saw significant change right across TWE and where we accelerated our organisational and portfolio focus towards becoming a global luxury brand-led leader in the global wine category. EBITs grew 12.8% to $658.1 million, driven by strong luxury growth in both Penfolds and Treasury Americas, which also included the contribution of Dow from the second half. Excluding that contribution, EBITs grew 6.4% in line with our guidance for the mid-to-high single-digit organic EBITs growth. The performance of our luxury portfolios was without doubt the key highlight in fiscal 24, with our luxury net sales revenue increasing approximately 30% across the group, or 14.5% on an organic basis. Testament to the great momentum we now have at the higher category price points in our key markets, where consumer demand for luxury wine remains strong. Reflecting this, both Pen...