Company Reports

Treasury Wine's fiscal 2026 underlying EBIT of AUD 492 million is down 36% from last year. The result reflects weak demand, particularly in the US, and lower shipments to rebalance ballooning distributor inventory in China and the US.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2026 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury has identified 10 key brands to focus on and invest in, and is undergoing a strategic review of its struggling US business. Also, it guides to fiscal 2026 underlying EBIT of AUD 480 million-AUD 490 million, and fiscal 2027 underlying EBIT at least the same.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2025 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury plans to return to a geographical operating model from the current brand-led segmentation. Sales from distributors to end consumers have also improved, and the company has refinanced about AUD 300 million in debt. Shares closed about 17% higher.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2025 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury's interim fiscal 2026 underlying EBIT of AUD 236 million crashed 40% on last year. Reduced Penfolds shipments to China, and weak US demand weighed heavily. The company suspended dividends and took an AUD 988 million pretax impairment to its US assets.

Wine demand has weakened in both the US and China, Treasury's key markets. The company is guiding to interim fiscal 2026 underlying EBIT of AUD 225 million to AUD 235 million, 41% lower than last year at the midpoint. It expects earnings in the second half to be higher.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2025 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2025 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury Wine Estates provided an early fiscal 2026 trading update. While detail was vague, the upshot is the withdrawal of prior guidance for underlying EBIT growth in fiscal 2026 on the back of weak sales in China and distribution disruptions in California. No new guidance was provided.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2025 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury Wine Estates' fiscal 2025 underlying EBIT was AUD 770 million, 17% higher than last year. Continued growth in the core Penfolds brand and a full-year contribution from Daou were offset by declines in cheaper, commercial wines. The company also announced a AUD 200 million buyback.

Treasury Wine Estates now expects underlying fiscal 2025 EBIT of about AUD 770 million, down from about AUD 780 million previously. Separately, an important US distributor, Republic National Distributing, will cease operations in California in September.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2024 from less than half in early 2014, both from growth in its higher-end products and purposeful reduction of low-end, or commercial, wine sales.

US President Donald Trump's "liberation day" tariffs have rattled global markets. Tariff rates have been raised to levels not seen in a century, which will likely set in motion a cascade of supply-demand side shocks, all acting to weigh on the rate of economic growth.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2024 from less than half in early 2014, both from growth in its high-end products and purposeful reduction of low-end, or commercial, wine sales.

Treasury reported interim fiscal 2025 underlying EBIT of AUD 391 million, up 35% on last year. It's a familiar story for Treasury, with continued strength in the luxury portfolio offset by flagging cheaper wines. The company expects underlying EBIT for the full year to be about AUD 780 million.

Treasury Wine Estates provided a trading update for the first quarter of fiscal 2025. Double-digit organic revenue growth was principally driven by the luxury portfolio. Sales for the remainder of the global portfolio were in line with the prior corresponding period.

Treasury Wine Estates is increasingly focusing on building high-end brands in its portfolio, particularly in luxury and premium wine. With this focus, the company's revenue from higher-end wines has risen above 80% in fiscal 2024 from less than half in early 2014, both from growth in its high-end products and purposeful reduction of low-end, or commercial, wine sales.