Treasury Wine Estates Limited (TSRYF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by and welcome to the Treasury Wine Estates FY25 Full Year Results Call. All participants are in 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 1 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, Operator. Good morning, everyone, and thank you for joining TWA's 2025 four-year results briefing. Joining me today, as normal, are the members of our leadership team, Stuart Boxer, Tom King, Ben Dollard, and Angus Lilley, who's now the Managing Director of Treasury Collective. And I'm pleased to announce today our results for Fiscal 25. Certainly a year where we navigated a number of economic and category headwinds and delivered another year of great performance and growth for TWE. Our net sales revenue grew 7.2% to $2.9 billion and our EBITs grew 17% to $770.3 million, driven by the continued growth of Penfolds and the full year contribution of Dow in the US. On an organic basis, however, the NSR did decline 1%, reflecting the reduced commercial and premium portfolio sales. Penfold is once again a significant highlight, led by a strong growth in Asia, where we successfully re-established the Australian-sourced portfolio in the China market, whilst we continued our positive momentum in other markets across the regions. In Treasury Americas, our growth was driven by Dow. However, performance was moderated slightly towards the lower demand trends in the US market through the second half of the fiscal year, which we'll touch on later. Treasury premium brands, top line and EBITS did decline for the year. However, ...