Chilean company Viña Concha y Toro recorded double-digit growth in the second quarter of 2024 compared to the same period last year. Revenue increased by 17.7% year-over-year to approximately €250m, while profit rose by 243% to around €21.9m (Q2 2023: €6.7m). The higher profit can be attributed to a simultaneous improvement in the gross margin (Q2 2024: 14%, Q2 2023: 6%), along with increased revenue and reduced costs. The EBITDA margin improved by 7.4 % to 17.1%, mainly due to effective cost controls and a higher share of premium products.
Concha y Toro was particularly successful in the markets of the USA (28.4%), Brazil (28.6%), and the UK (17.5%). Strong brands such as Casillero del Diablo, Diablo, and Trivento contributed to the sales increase. New product launches were also well received by consumers.
For the first half of the year, revenue increased by 21.6%. Profit for the first half rose by 263% to around €36m. The company maintains its forecast for 2024, expecting continued double-digit revenue growth and increasing profitability.
