NEWS
CONCHA Y TORO SALES GREW 9.1% Q2 2021 AS CHILEAN WINE EXPORTS TO CHINA JUMPED 38%
By Tony Zhu
5-8-2021
Source: Conha Y Toro
Leading Chilean winery Viña Concha y Toro reported sales growth of 9.1 percent in second quarter of 2021, citing Asia as top performing export market, while noting that it enjoyed “an important recovery” in China.
Meanwhile, Chile’s wine export to China increased 38 percent by volume in first half of 2021, making the South American country the second biggest source of wines in the Chinese Market.
Eduardo Guilisasti, CEO of Viña Concha y Toro, said that sales in China recorded important recovery from 2020 with a more normalised consumption scenario.
Despite having to compare with a very vibrant second quarter last year, coupled with unfavourable foreign exchange fluctuations, EBITDA still increased by 2.5 percent and net profit grew 8.6 percent. While consolidated volume increased 4.8 percent together with an increase in the average price as a result of a better mix.
Sales were driven by a 19 percent growth in volume and value of their priority brands, Principal and Invest, reaching 49 percent of sales value.
“Looking forward, we remain confident in the sustainability of our results, based on the improvement of the quality of our portfolio and the relations that we maintain with retailers and distributors. In the same manner, we continue to work with all the precautions needed to protect our people and their families during the sanitary crisis, expecting a favourable evolution in coming months,” said Guilisasti.
In China, wine imports from Chile increased 38 percent by volume in first half of 2021, making the South American country the second biggest source of wines in the Chinese Market.
Chinese customs data showed that wine imports from France, China’s top wine supplying country, increased 18 percent in the same period.
While Spain exported 24 percent more wine to China in the period, making it the third biggest source of imported wines in China.
Wine imports from Australia, which used to be China’s top wine supplier, dropped a staggering 89 percent in the period, making it the fifth biggest source of wines in China.
(the writer can be contacted at: info@thewinechronicle.com)
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