The Catalan wine giant Torres increased its turnover by 11.5% in 2010 but profits are “minimal”
The well-known Catalan wine brand Torres that is available in supermarkets all over Europe exported 72% of its production in 2010. The company registered a turn-over of 205 million euros, 11.5% more than in 2009.
Barcelona (ACN) .- The famous Catalan wine Torres registered a turnover of 205 million euros in 2010, 11.5 percent more than in the previous year. Despite this, the president and CEO of the company, Miguel A. Torres announced that expected profits were \u201Cminimal\u201D. Torres said that last year's turnover was just being used to recuperate what was lost in 2007.
According to the head of the wine giant, wine sales increased in 2010 due to exports. The latter represented 72% of sales last year and he believes the figure could increase this year to 75%. According to Miguel A Torres, the turnover in 2011 could increase by 5 or 6%. Torres said this week that the export market strengthens the position of the company and that exports could reach three quarters of production this year. The data is outstanding if you consider that ten years ago, Torres divided domestic and foreign markets into two equal halves. The president of the wine label warned however that this increase has a double meaning, as the profit margin per exported bottle is less than that being sold on the domestic market.
However, the director of Torres highlighted the good performance of the wine brand in countries like China. Torres is third wine distribution company that imports into China with a turnover of 16.6 million euros. The wine connoisseur said that positive developments are also expected in the Indian market, despite protectionism over the economy in South Asia. However, Mexico, Britain and Germany were in this order, the three markets that bought the most volumes of Torres wines.
In terms of products, the white wine Viña Esmeralda noted the highest increase in sales, followed by the brandy Torres 10. The white wine Viña Sol and the red one Sangre de Toro are still however the most popular brands.
Torres is a family business that was founded in 1870. Today it sells 50 different brands of wines in 140 countries and is found on supermarkets shelves all over Europe. In Catalonia, Torres has vineyards in Priorat, Penedès, Conca de Barberà and Costers del Segre. In addition to this, the Catalan multinational wine producer also has vineyards in Chile and California. Torres has a workforce of 1,300 employees and nearly two thousand hectares of cultivated vineyards all around the world.