News: TWE Treasury Wine Estates Declares Final Dividend Of 17 AU Cents Per Share

Aug 15 (Reuters) - Treasury Wine Estates Ltd (TWE) :

• FY PROFIT ATTRIBUTABLE A$254.5 MLN VS A$263.2 MLN
• DECLARED FINAL DIVIDEND OF 17.0 AU CENTS PER SHARE
• FY REVENUE FROM ORDINARY ACTIVITIES A$2,488.3 MILLION VERSUS A$2,531.8 MILLION
• IN F24, TWE IS WELL POSITIONED TO DELIVER GROWTH
• CONSUMER DEMAND FOR LUXURY WINE IS EXPECTED TO REMAIN STRONG GLOBALLY, WITH TOP-LINE GROWTH TO BE LED BY PENFOLDS
• LUXURY PORTFOLIO GROWTH FOR TREASURY AMERICAS WILL BE MODEST IN F24
• LONG-TERM FINANCIAL OBJECTIVE REMAINS TO DELIVER HIGH SINGLE-DIGIT AVERAGE EARNINGS GROWTH, GROUP EBITS MARGIN TARGET OF 25%+
• DEMAND FOR COMMERCIAL WINE IS LIKELY TO REMAIN CHALLENGED IN BOTH AUSTRALIA AND UK
• CONSUMER DEMAND FOR PREMIUM WINE IS EXPECTED TO REMAIN CONSISTENT
• DEMAND FOR COMMERCIAL WINE IS LIKELY TO REMAIN CHALLENGED IN BOTH AUSTRALIA AND UK
• CONTINUED IMPROVEMENT IN AUSTRALIAN AND CHINESE RELATIONS, MAY HAVE POTENTIAL FOR FUTURE REVIEW OF TARIFFS ON AUSTRALIAN WINE
• WILL TAKE A MEASURED APPROACH TO PHASING OF PENFOLDS SHIPMENTS ACROSS ALL MARKETS
• TREASURY WINE ESTATES SEES PENFOLDS EBITS BEING WEIGHTED TO SECOND HALF IN F24
• ENTER F24 WITH CONFIDENCE THAT EXECUTION OF OUR PREMIUMISATION STRATEGY
• ENTER F24 WITH CONFIDENCE
• DEMAND FOR COMMERCIAL WINE LIKELY TO REMAIN CHALLENGED IN BOTH AUSTRALIA AND UK IN FY24