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Treasury Wine Estates Limited (ASX: TWE) - Financials

- Current share price for TWE : $11.990

Treasury Wine Estates Limited (TWE) is a global wine company Consumers in more than 70 countries enjoy our iconic wines, available in major retailers, premium wine outlets, restaurants, bars, and online channels, 2500 members, Our world-class team has a presence across Australia, New Zealand, Asia, the Americas, the United Kingdom, Europe, the Middle East, and Africa. Penfolds, Treasury Premium Brands, and Treasury Americas are supported by centralised business services, supply, and corporate functions Our global multi-regional sourcing model is at the heart of our business. It includes 10100 vineyards and production assets in some of the world's best wine regions

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TWE Per Share

Year to Jun Sales Cashflow Earnings Dividends Franking Book Value Average
Annual P/E		 Relative P/E Shareholder Return
2023 $3.32 37.3 ¢ 51.5 ¢ 34.6 ¢ 100% $5.29 25 165.5% 1.5%
2022 $3.38 76.7 ¢ 37.3 ¢ 30.7 ¢ 100% $5.19 31.1 187.5% -0.5%
2021 $3.52 64.6 ¢ 50.7 ¢ 27.7 ¢ 100% $4.92 19.9 168.3% 14.1%

TWE Capital Structure

Total Debt Interest Long Term Debt Percent Debt Preferred Stock Share Equity Percent Equity
$1,937,600 $152,300 $1,686,900 30% $0.00 $3,861,700 70%
Note: All dollars in thousands ('000) for the table above

TWE Historical Financials

2023 2022 2021
Revenue ($M) 2,423 2,476.7 2,569.6
Operating Margin (%) 28.6 24.3 27.3
Depreciation ($M) -132.6 -132 -134.4
Amortisation ($M) -29 -17 -16
Net Profit Before Abs ($M) 375.7 273.3 370.3
Net Profit After Abs ($M) 254.5 263.2 250
Income Tax Rate (%) 24.5 29.4 30.1
Net Profit Margin (%) 15.5 11 14.4
Employees ($T) 2.6 2.6
Long Term Debt ($M) 1,686.9 1,512.2 1,474.7
Shareholders Equity ($M) 3,861.7 3,784.9 3,587.1
Return on Capital (%) 9 7 9
Return on Equity (%) 9.7 7.2 10.3
Payout Ratio (%) 67 82 55

TWE Cashflow

2023 2022 2021
Customer Receipts ($M) 3,126 3,378 3,384
Net Operating Cashflow ($M) 272 562 471.7
Net Investing Cashflow ($M) -111 -409 -59
Net Financing Cashflow ($M) -27 -185 -404

TWE Market & Earnings

2023 2022 2021
Market Cap ($M) 8,106 8,193 8,431
Net Gearing (%) 35.4 32.8 30.1
Net Interest Cover (%) 7.3 6.36 7.5
Dividend Yield (%) 3.1 2.7 2.4
NTA Per Share ($) 3.37 3.3 3.37
EBITDA ($M) 692.6 603 702.2
EBIT ($M) 530.9 454.4 551.5
EBT Before Abs ($M) 458.2 383 478

TWE Balance Sheet

2023 2022 2021
Cash ($M) 565.8 430.5 448.1
Debtors ($M) 440.9 419.9 477.6
Other Debtors ($M) 99.7 95.2 107.4
Prepayments ($M) 66.7 49.3 36.3
Inventories ($M) 990.3 947.9 839.7
Current Investments ($M)
Other Current Assets ($M) 40.9 11.3 8
Total Current Assets ($M) 2,237 1,990 2,057
Receivables ($M)
Inventories ($M) 1,220 1,096 1,091
Property, Plant & Equipment ($M) 3,686 3,768 3,487
Accumulated Depreciation ($M) -1,720 -1,812 -1,716
Intangibles ex. Goodwill ($M) 1,062.9 1,062.8 878
Goodwill ($M) 363.8 337 277.5
Future Income Tax Benefit ($M) 166.5 163.5 183.7
Non-Current Investments ($M)
Other Non-Current Assets ($M) 74.3 57.4 26.2
Total Non-Current Assets ($M) 4,854 4,674 4,227
Total Assets ($M) 7,091 6,664 6,284
Accounts Payable ($M) 709.7 747.2 703.6
Provisions ($M) 120.4 84.8 121.1
Short Term Debt ($M) 250.7 161.5 53.1
Other Current Liabilities ($M) 17.6 9.6 0.7
Total Current Liabilities ($M) 1,098.4 1,003.1 878.5
Creditors ($M)
Long Term Debt ($M) 1,687 1,512 1,475
Provisions ($M) 383.2 338.7 309.6
Other Non-Current Liabilities ($M) 43.9 20.7 30.2
Total Non-Current Liabilities ($M) 2,114 1,872 1,814
Total Liabilities ($M) 3,212 2,875 2,693
Share Capital ($M) 3,281 3,281 3,281
Reserves ex. Share Premium ($M) 134.5 48.7 -88
Share Premium Reserve ($M)
Retained Profits ($M) 464.6 455.5 394.4
Other Shareholders Equity ($M) -18.1
Convertible Equity ($M)
Outside Equity Interest ($M) 17.2 4.1 4.1
Total Shareholders Equity ($M) 3,879 3,789 3,591

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