Iconic Aussie wine maker swallows $650 million loss

The owner of the iconic Penfolds Wines, Treasury Wine Estates (TWE), has copped an almost $650 million loss.

TLDR

Iconic Australian wine maker Treasury Wine Estates (TWE) reported a staggering $694.4 million loss for the financial year, leading to the scrapping of its interim dividend for FY26. The company, owner of popular brands like Penfolds, DAOU, and 19 Crimes, faced significant challenges in the international wine market, particularly in the Americas where it suffered $751 million in impairments. Despite the losses, CEO Sam Fischer remains confident in the company's progress and expects improvements in the second half of the year.