Treasury Wine Estates (TWE) has announced its 2025 Financial Year results, with strong growth from Penfolds and a full year of contribution from US Winery DAOU driving earnings and profit growth.
The results also reported a massive 341.8 per cent increase in Statutory net profit after tax up to $436.9m and a net sales revenue of $2.94bn, up 7.2 per cent on the previous financial year. The strong growth of Penfolds and the DAOU contribution saw EBITS increase by 17 per cent to $770.3m.
TWE’s Chief Executive Officer, Tim Ford commented: “Overall, I am pleased with TWE’s fiscal 25 performance. While we continued to face headwinds in a number of markets, we remained laser-focused on executing our business plans, further strengthening the business for long-term growth and achieving strong financial performance, underpinned by Penfolds’ continued momentum and integrating DAOU into our Luxury portfolio.
“We also completed transitioning to our new Luxury portfolio-led operating model, a structural evolution that enhances our strategic clarity and positions us well for the future. I am incredibly proud of the transformation we’ve delivered over the past five years and want to thank our people for their passion, resilience and commitment to delivering on our strategy.
“I am confident that the team and the business is entering fiscal 26 well positioned to harness the attractive opportunities in the Luxury wine category.”
Today’s ASX announcement also included business updates on both its California distributor transition and new operating model.
In the US TWE has appointed Breakthru Beverage Group (BBG) as its exclusive distributor in California from 1 September 2025, following an announcement on 24 July. The move builds on TWE and BBG’s existing partnership across several key US states, including Florida, and aims to return depletions growth in California in FY26 after a decline in FY25.
While the full financial impact of the change remains uncertain, TWE said it expects an adverse effect of about $50m on Treasury Americas’ FY26 net sales revenue, as a result of revised shipment and depletion targets under the new agreement.
The company’s forecast for modest EBITS growth in Treasury Americas next year depends on minimising the impact of reduced shipments through ongoing exit negotiations with current distributor RNDC.
In June last year TWE announced its move to a divisional operating model, to help the business align its strategic focus on luxury wine.
This evolution of TWE’s operating model will see the luxury divisions, Penfolds and Treasury Americas, focus on delivering consistent top and bottom-line growth over the long-term. The new global Premium brands division, Treasury Collective, the combination of Treasury Premium Brands and the Treasury Americas premium brand portfolio, will focus on delivering stability.
In May TWE announced that Chief Executive Officer and Managing Director Tim Ford will depart the company on 30 September 2025, ending a 14-year tenure that includes five years in the top role.
Ford will be succeeded by Sam Fischer, who will assume the position from 27 October 2025. Fischer brings more than three decades of global experience in alcohol beverages, consumer goods and luxury brands, with a strong record in driving transformation and growth.
TWE said it expects to incur about $4m in costs in FY26 related to the leadership transition, including Fischer’s sign-on package, comprising a cash payment and restricted equity, and Ford’s exit entitlements.