Treasury Wine Estates LimitedPrivate▼ Negative
Capitalrelevance
Full-year loss and dividend suspension driven by impairments and weak earnings.
Treasury Wine Estates reported a full-year net loss of A$1.078 billion, swinging from a profit of A$436.9 million a year earlier, and suspended its dividend to preserve capital. The loss was driven by A$1.309 billion in material items, mainly non-cash impairments of U.S. assets and brands, including A$558.4 million related to U.S. supply chain rebalancing. Net profit after tax before material items and SGARA fell to A$275.3 million from A$470.6 million, while EBITS declined 36.1% to A$492.3 million. Revenue dropped 12.2% to A$2.626 billion from A$2.990 billion, and return on capital employed fell 4.0 percentage points to 7.9%. Shares rose about 5% to A$5.77 on the ASX.
Full-year loss and dividend suspension driven by impairments and weak earnings.