The maker of Penfolds Grange, Treasury Wine Estates has noted an interim draft determination by the Chinese Ministry of Commerce that would reopen the China market to Australian wine exports. The determination outlines a proposed removal of the current tariffs which have crippled what was once a $1.2 billion export trade with China – reducing…
Treasury Wine Estates, the maker of Penfolds wine, is preparing to re-enter the Chinese market as soon as the market reopens as expected to Australian exports. The company, which reoriented itself towards luxury and premium wine brands to make up for the loss of profits from China, told investors that it expected China to release…
Penfolds maker Treasury Wine Estates (TWE) has secured a leading position in the US luxury wine market with a surprise US$900 million acquisition of US luxury wine business DAOU Vineyards. The purchase, which will be funded by an Au$825 million equity raising, brings the US’s fastest growing luxury brand into the TWE global stable which…
Penfolds’ manufacturer Treasury Wine Estates is reaping the benefits of its switch out of commercial wine production to focus on expanding its sales of luxury and premium wines such as Penfolds Grange. Outgoing Chairman Paul Rayner told the company’s annual general meeting that the premiumisation trend where commercial wine sales were soft remained strong across…
The maker of Penfolds wines Treasury Wine Estates gone live with the largest winery solar installation in Australia at its Barossa Winery and Production Centre in South Australia. Commissioned 12 months ago and now operational, there are almost 6,000 solar panels at the Barossa site alone, putting wines including Penfolds, Wynns, Squealing Pig and Pepperjack…
Treasury Wine Estates, the maker of Penfolds, is accelerating its move towards premium and luxury brands, announcing adjustments to its operating model and organisational structure. As well as announcing a stronger focus on ‘priority brands’ Wynns, Pepperjack, Squealing Pig and 19 Crimes, the company also revealed it would close a Victorian winery used to make…
Premium and luxury wine manufacturer Treasury Wine Estates has returned to a pattern of improving margins and earnings growth as it emerges from a reorganisation following Australian wine’s sudden exclusion from the China market. Announcing FY22 results that saw profit rise on a slight fall in sales, TWE CEO Tim Ford said relentless execution of…
Premium and commercial wine exporter Treasury Wine Estates is showing signs of emerging from the woes inflicted on the Australian wine industry by punitive import tariffs imposed by China. The company today reported an operating profit of $510 million for the year to June 30 despite profits in mainland China declining by $77.3 million, indicating…
Leading wine producer Treasury Wine Estates, the maker of Penfolds wines, has lost its anti-dumping case brought by the Chinese government which has confirmed crippling import duties will apply to the company. The Chinese ministry of commerce issued a final determination in its anti-dumping and countervailing investigations into Australian wine exports to China, including Treasury.…
Treasury Wine Estates, the maker of Penfolds wines, today reported earnings before interest and taxes (EBITS) down 23 per cent in the first half year to $284 million as it was hit by China’s punishing tariffs against Australian products. The slump, which was widely expected, was driven by the company’s exit from the premium China…
