News: TWE Treasury Wine Estates Sees F24 Penfolds EBITS In Range Of A$418-421M

June 20 (Reuters) - Treasury Wine Estates (TWE) :

• SEES F24 PENFOLDS EBITS DELIVERED IN RANGE OF A$418-421M
• FOR FY25 PENFOLDS EXPECTS TO DELIVER LOW DOUBLE-DIGIT EBITS GROWTH
• PENFOLDS EBITS MARGIN EXPECTED TO BE APPROXIMATELY 42% FOR FY24
• SEES F25 PENFOLDS EBITS MARGIN TO IMPROVE TO WITHIN RANGE OF 43-45%
• SEES F26/F27 PENFOLDS WILL TARGET EBITS MARGIN DELIVERY IN LINE WITH ITS LONG-TERM TARGET OF 45%
• CO CONTINUES TO EXPECT MID-HIGH SINGLE DIGIT GROUP EBITS GROWTH IN FY24
• SEES F26/F27 TARGET ANNUAL EBITS GROWTH OF APPROXIMATELY 15% ACROSS BOTH YEARS
• INITIAL PORTFOLIO DEMAND IN CHINA HAS BEEN STRONG
• COMMENCED EXECUTION OF PLANS TO RE -ESTABLISH OUR AUSTRALIAN PORTFOLIO IN CHINA
• CHINA REMAINS ATTRACTIVE LUXURY WINE MARKET AND SIGNIFICANT LONG -TERM GROWTH OPPORTUNITY FOR PENFOLDS

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