Viña Concha y Toro expects its sales to grow again in 2027, projecting an increase of between 1.9% and 4.7%. The outlook follows a weaker but improving third quarter.
The Chilean producer, described by Harpers Wine & Spirit Trade News as the world’s third-largest wine company, said its third-quarter results showed a better trend than the first half of the year. Revenue between July and September fell 2.2% from the same period in 2025, to 2.46bn Chilean pesos. The decline was smaller than earlier in the year, leaving sales close to last year’s level, while net income for the quarter rose 2.6%.
What held sales back
The company attributed the drop mainly to the stronger Chilean peso against the main currencies used in its international business, along with a highly competitive market in the United Kingdom. These pressures were partly offset by stronger results elsewhere and by the inclusion of Provence rosé producer Maison Mirabeau, in which Concha y Toro acquired a majority stake earlier in 2026.
The US and Latin America help stabilize the business
The United States was one of the company’s strongest markets in the quarter. Business there began to normalize as Concha y Toro neared the end of a distributor transition that started earlier in the year. In Chile, sales rose 1.0% compared with the third quarter of 2025, and much of Latin America also posted gains, including Brazil and Mexico.
Diversification and efficiency
Chief Executive Eduardo Guilisasti said the result showed the value of a diversified portfolio at a time when consumers in many markets have less spending power. He said the company’s scale and business model had allowed it to respond to changing conditions, while an operational efficiency program and a digital transformation plan continued to support its commercial strategy.
On that basis, the company expects sales to rebound in 2027. It also maintained its longer-term target of a compound annual growth rate of between 1.6% and 3% by 2030, and said its efficiency and simplification plan should generate savings of about 28bn Chilean pesos across 2026 and 2027.
A signal for the wider drinks industry
The update is closely watched because Concha y Toro is a major exporter with broad exposure to the United States, Latin America, Europe and its home market. Its results offer a useful read on wine demand across key regions, and show how exchange rates, competition in large retail markets and changes in distribution can affect performance. Beer and spirits producers with heavy international exposure may also find in its trajectory an early indication of how global demand and currency moves are shaping sales.
The quarter also highlights how uneven the recovery is. Growth in the US and parts of Latin America steadied the business, but currency movements and a tough UK environment remained a drag. This suggests that volume trends alone may not determine near-term performance for large drinks groups, particularly when revenue is translated back into a stronger home currency.
Management appears to believe that internal cost controls and commercial execution can offset some of these external pressures. The contribution from Maison Mirabeau also shows how acquisitions are being used to add categories and markets while organic growth remains hard to secure in some regions.
Source: Vinetur