Treasury Wine Estates Limited (AU:TWE) has released an update.
Treasury Wine Estates Limited has reported a mixed full-year 2024 financial performance, with a significant 61.1% drop in statutory net profit after tax (NPAT) to $98.9 million due to non-cash impairment charges, despite an 8.3% rise in NPAT before material items. However, the company saw a robust 12.8% increase in earnings before interest and tax (EBITS) to $658.1 million, fueled by a strong luxury portfolio, particularly with the contributions from Penfolds and the recently acquired DAOU. The company’s focus on premium wines is evident in the 29.6% growth in luxury net sales revenue (NSR) and plans to create a Global Premium division and divest its commercial brands.
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