Treasury Wine Estates swings to $1.08B loss on U.S. writedowns
Penfolds owner Treasury Wine Estates reported a statutory net loss attributable to shareholders of A$1.08 billion for FY ended June 30, after revenue fell 12.2% to A$2.63 billion. The result reflected a A$1.12 billion impairment of U.S. assets and a A$611.3 million charge tied to an Americas strategic review and supply-chain changes. EBITS in the Americas dropped 61.4%, though Penfolds volumes rose in China and Asia ex-China. It expects 2027 earnings to be at least in line with the prior year.