Concha y Toro profits slide amid UK, US pressure

Viña Concha y Toro has reported little first-quarter profits amid falling income successful the UK and the US.

The Chilean vino elephantine said its gross from mean activities fell 7.8% to 192.61bn pesos ($214.8m) successful the archetypal quarter.

The diminution successful income contributed to a 29.1% driblet successful nett from operating activities dropped 29.1% to 15.22bn pesos.

Profit attributable to the owners of the genitor institution declined 36.3% to 8.78bn pesos.

“The archetypal 4th of 2026 has been marked by disciplined execution successful a challenging planetary environment, wherever Viña Concha y Toro has maintained a coagulated trajectory, prioritising profitability and the worth of our strategical brands," Concha y Toro main enforcement Eduardo Guilisasti said:

Sales of wine, which relationship for the bulk of radical sales, fell 7.9% successful worth to 178bn pesos. Volumes were down 6.8%.

Concha y Toro's full volumes fell 7.5% year-over-year but gross successful dollars was "stable" versus the aforesaid play past twelvemonth "driven by higher mean prices successful dollars successful export markets and the United States", the radical said.

In the group's export markets, gross slipped 2.2% successful Chilean peso presumption to 131.8bn pesos.

Europe, the group’s largest market, income declined 2.1%, attributed chiefly to a 4.6% driblet successful income successful the UK.

The institution said the UK autumn was “largely owed to a 4% measurement reduction”, chiefly affecting its Casillero del Diablo and Isla Negra brands.

The US saw a bigger drag. Sales gross successful the marketplace tumbled 32.2% to 25.36bn pesos, with volumes down 30.1%. Concha y Toro said the diminution reflected “inventory adjustments” owed to “market organisation disruptions and a timing mismatch”, adding the effect should unwind done the year.

Guilisasti added the US “represents our superior root of operational uncertainty, arsenic it is undergoing a captious modulation successful distribution”.

The company’s location marketplace of Chile made up 11.7% of vino income by worth successful the quarter.

Sales successful Asia fell 21.2% successful worth terms, driven by a 34.1% driblet successful Japan and a 13.4% autumn successful China.

South Korea was an exception, increasing 3.1%. For the remainder of 2026, Guilisasti projected “strong maturation crossed Latin America, Europe, Asia and Canada”.

“These markets are responding positively to our premium marque strategy, which forms the instauration of our assurance successful targeting single-digit maturation this year,” the CEO added.

Last month, Concha y Toro carved retired Viña Amelia arsenic an autarkic subsidiary to “deepen specialisation, fortify marque identity, and prehend caller opportunities successful the planetary premium vino segment”.