Viña Concha y Toro (CONCHATORO) investor relations material

Executive summary

• Consolidated sales for 1Q26 were CLP $192,613 million, down 7.8% year-over-year, mainly due to adverse exchange rates and lower volumes, despite higher average prices in dollars in export markets and the US.

• Net income attributable to controlling shareholders was CLP $8,779 million, a 36.3% decrease year-over-year, with net margin at 4.6% (down 200 bp).

• Premium and superior wines accounted for 53.7% of consolidated revenues, reflecting ongoing premiumization and portfolio rationalization.

• Efficiency initiatives led to a cost of sales-to-sales ratio of 61.2%, with further improvements expected due to a record harvest.

Financial highlights

• Gross profit was CLP $74,730 million, down 7.3% year-over-year; gross margin improved by 20 bp to 38.8%.

• EBITDA was CLP $23,758 million, a 22.9% decrease year-over-year; EBITDA margin was 12.3% (down 240 bp).

• Operating profit (EBIT) was CLP $15,225 million, down 29.1% year-over-year; operating margin was 7.9% (down 240 bp).

• Earnings per share were CLP $11.9, a 36.3% decline from 1Q25.

• Net financial debt was CLP $333,234 million, a 3.6% decrease from December 2025; DFN/EBITDA ratio was 2.11x.

Outlook and guidance

• Optimism for the rest of 2026, with expectations of single-digit growth in Latin America, Europe, Asia, and Canada, driven by premium brand strategy.

• US market remains a key uncertainty due to ongoing distribution transition.

• Efficiency gains from a historic harvest are expected to reduce operating costs in the second half of the year.

• Structural efficiency program aims for CLP $28 billion in savings by end of 2027.