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Treasury Wine Estates Limited (ASX:TWE)

ALERT: Price-sensitive ASX Announcement for TWE
Current share price for TWE : $4.510 -0.73 (-13.93%)+
Announcement
Release
16 Feb 2026 8:19AM
Price at Release
$5.240
Full Release
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Summary
Treasury Wine Estates Limited (TWE) announced its interim results for the first half of 2026, highlighting a challenging period marked by significant declines in earnings and net profit. The company's Earnings Before Interest, Tax, SGARA, and Material items (EBITS) fell by 39.6% to $236.4 million, while the statutory net profit after tax showed a loss of $649.4 million, primarily due to a $751.0 million post-tax material items loss from a non-cash impairment of US-based assets. The company's Net Sales Revenue (NSR) decreased by 16.0% to $1,297.7 million, with reduced shipments impacting performance across all divisions. To manage its financial stability, TWE has suspended its interim dividend to focus on capital preservation and leverage reduction. TWE Ascent, a global transformation program, is underway, aiming for a $100 million per annum cost improvement. The company expects improved performance in the second half of 2026, driven by strategic actions including inventory reductions in the US and China.
Key Points
  • EBITS declined by 39.6% to $236.4 million.
  • Statutory net profit after tax showed a loss of $649.4 million.
  • Material items loss of $751.0 million due to US asset impairment.
  • NSR decreased by 16.0% to $1,297.7 million.
  • Dividend payments suspended to prioritize capital preservation.
  • TWE Ascent aimed at $100 million per annum cost improvement.
  • Strategic actions to reduce US and China inventory holdings.
  • Positive brand performance despite challenging market conditions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.