vina concha y toro sa-sp adr (VCO) Key Developments
Concha y Toro Presents at 2014 Credit Suisse Andean Conference, Aug-13-2014
Jul 9 14
Concha y Toro Presents at 2014 Credit Suisse Andean Conference, Aug-13-2014 . Venue: Credit Suisse Offices, Rua Leopoldo Couto de Magalhães Jr, 700, São Paulo, Brazil.
Vina Concha y Toro S.A. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2014
Jun 2 14
Vina Concha y Toro S.A. reported consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported income from ordinary activities was CLP 114,344,311,000, income before tax was CLP 11,191,362,000, income attributable to owners of the company of CLP 8,782,446,000 against income from ordinary activities was CLP 91,080,811,000, income before tax was CLP 6,792,424,000, income attributable to owners of the company of CLP 5,246,293,000 for the same period a year ago. In the first quarter of 2014, the net sales increased by 25.5% due to a major commercialized volume and higher average price in export markets.
Vina Concha y Toro S.A. announced delayed 20-F filing
May 1 14
On 05/01/2014, Vina Concha y Toro S.A. announced that they will be unable to file their next 20-F by the deadline required by the SEC.
Vina Concha y Toro S.A. Reports Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2013
Mar 31 14
Vina Concha y Toro S.A. reported consolidated financial results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported Income from ordinary activities CLP 139,332,912 against CLP 132,518,833 a year ago. Income before tax was CLP 13,826,936 against CLP 11,274,576 a year ago. Income attributable to owners of the company was CLP 11,085,621 against CLP 8,546,531 a year ago. Net sales increased by 5.1%, this is because 9.8% growth in the export markets. Operating income plus depreciation and amortization was CLP 19,506,756 against CLP15,376,106 a year ago. The higher figure in operating income plus depreciation and amortization is mainly explained by two effects, the first one is the higher price in dollar (average export price grew 2.8% in Chile and 7.0% in Argentina); the second effect was the depreciation of the Chilean peso against most of the export currencies. Indeed, in the fourth quarter, the Chilean peso depreciated against the US dollar by 8.0%, 8.9% against the sterling pound and 13.4% against the Euro. On the other hand, there was an increase in the SG&A due to the higher proportion of sales of the distribution subsidiaries in the export markets.
For the year, the company reported Income from ordinary activities was CLP 475,622,285 against CLP 448,249,781 a year ago. Income before tax was CLP 42,371,127 against CLP 40,768,532 a year ago. Income attributable to owners of the company was CLP 33,173,641 against CLP 30,021,933 a year ago. This increase in revenues is mainly explained by the growth in the export markets. Operating income (gross revenue, distribution cost and administrative expenses) was CLP 55,385,334 against CLP 53,680,114 a year ago.
Concha y Toro S.A. and Russian Standard Announces Long-Term Exclusive Partnership
Mar 3 14
Concha y Toro S.A. and Russian Standard have announced a long-term exclusive partnership to distribute Concha y Toro wines in Russia. The Concha y Toro portfolio of Casillero del Diablo, Frontera, Sunrise, Trio, Marques de Casa Concha, Terrunyo, Amelia, Carmin de Puemo and Don Melchor wines are included in the agreement, which will be managed by Roust Inc., Russian Standard’s distribution arm in Russia. In Russia, the imported wine market grew by 5% in 2013.