Treasury Wine Estates F24 Annual Results

Treasury Wine Estates (ASX: $TWE) has reported its 2024 Annual Results, with F24 EBITS reaching $658.1m, up 12.8%. The growth was primarily driven by strong performance in the Luxury portfolio, particularly in Penfolds and Treasury Americas. The company also outlined plans to create a Global Premium division by 1 July 2025 and seek to divest its Commercial brand portfolio.

Executive Commentary on F24 Results and Future Strategy

The company's F24 results reflect the outstanding execution and consumer demand for Luxury wine in key markets, leading to a 29.6% increase in Luxury NSR. Despite challenges in certain market segments, the company remains focused on its strategic priorities, including the re-establishment of the Penfolds Australian COO portfolio in China and the strong growth momentum of DAOU. Looking ahead, the company aims to continue its strong Luxury portfolio growth and stabilize the remainder of its global brand portfolio.

Summary of F24 Results and Outlook

Treasury Wine Estates' F24 results showcased strong performance in the Luxury portfolio, driving overall growth in EBITS. The company plans to create a Global Premium division by 1 July 2025, aiming to unlock additional shareholder value, while also seeking to divest its Commercial brand portfolio. In F25, the company expects to deliver EBITS in the range of $780-810m, with a focus on continued strong momentum across its Luxury brand portfolio and the execution of strategic priorities. The company remains committed to its vision of becoming the world's most desirable luxury wine company.