03/04/2024 09:19

Treasury Wine Estates Ltd (TWE) $12.79

Chinas Ministry of Commerce announced last week they intended to remove one of its last major sanctions on $20 billion of Australian exports which were imposed when relations soured under the Morrison government – tariffs on Australian wine finally dropped to zero at the end of last month. Penfolds are extremely well positioned to leverage off the good but largely anticipated news with the brand remaining prominent in China, as they kept more than 100 staff in the country even after Beijing slapped the huge 175 per cent tariffs on its Australian exports.

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23/02/2024 09:48

Treasury Wine Estates Ltd (TWE) $12.15

TWE rallied +3.1% on Thursday as the winemaker moved from strength to strength following last week’s solid result, which contained no hidden surprises; in fact, it came in a touch above expectations following a beat on revenue.

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15/02/2024 16:48

Treasury Wines (TWE) $11.43

TWE +3.25%: A good result relative to low expectations today with some concern leading into it that downgrades could be on the offing after they acquired Daou at the end of October. That wasn’t the case with earnings (EBITs) coming in at $289.8m a shade above consensus of $288.7m on better-than-expected revenue ($1.28bn vs $1.25bn exp).

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02/02/2024 09:07

Treasury Wine Estates Ltd (TWE) $10.81

This week saw Wine Australia announce that Dec-23 export growth had improved significantly against the previous quarter; strong demand from Hong Kong was the standout, with the over $10 a bottle category remaining stronger than the discount end. It was noted that Hong Kong is a major trading hub, and some of the wine may be shipped to other Asian markets.

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22/12/2023 09:02

Treasury Wine Estates Ltd (TWE) $10.86

TWE has struggled through 2023 even as local relations with China improve. Their acquisition of DAOU Vineyards and subsequent equity raising has weighed on the stock of late, but we like its outlook in the medium term.

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07/11/2023 09:10

Treasury Wine Estates Ltd (TWE) $11.51

TWE closed up +4.3% on Monday as the feedback from Prime Minister Albanese’s visit to China became increasingly encouraging. The AFR led with China hails “new starting point - Albanese, Xi stabilise relations”, very different headlines to those created by Scott Morrisons' less diplomatic approach to the world’s 2nd largest economy.

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01/11/2023 09:01

Treasury Wines Estates (TWE) $11.98

On Tuesday, TWE announced the $1.6bn acquisition of upmarket Californian unlisted wine group Daou Vineyards, another foray into the US, which some would argue hasn’t been a great hunting ground for the winemaker over the last decade – 86% of Daou’s trade is in the US. This is a reasonably bold play by CEO Tim Ford; considering its chequered history in the US, we admire his belief and, unlike many, the confidence to take the hard/bold calls, let's hope he’s right!

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19/10/2023 09:26

Treasury Wines Estates (TWE) $12.23

TWE closed up +5% yesterday following comments that Chinese wine tariffs could end in a few weeks, just in time for Anthony Albanese’s visit to Beijing later this year – a much-needed $1.2bn olive branch for our wine industry. Ambassador Xiao said some very encouraging words for the local wine players.

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17/10/2023 09:13

Treasury Wines Estates (TWE) $11.59

Treasury Wines (TWE) +1.31% edged higher after saying that trading conditions remained in line with expectations, consumers are continuing to buy more expensive wines as we witness an ongoing polarisation of wealth. As the company continues to target the resilient luxury wine market, it remains comfortable with its optimistic profit margins in excess of 25%.

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20/09/2023 09:15

Treasury Wines (TWE) $11.52

TWE’s recent FY23 result was In line with prior guidance, the company reiterated high-single-digit average earnings growth long term, led by Penfolds as the main contributor to the bottom line. They also noted the potential for a review of duties on Australian wine by China, with the recent barley decision a positive.

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