Bodegas Torres grew 5% in value in 2014 compared to the previous year, reaching 240 million euros. The family-owned wine business, which celebrates its 145th anniversary this year, thus resumes the growth trend that began in 2009. Despite stagnant growth in 2013, the company has seen its turnover increase by 30% over the past five years.
These results are due to the positive evolution of wine exports, which rose 7% in value in 2014 compared to the previous year, as well as encouraging developments in the domestic market, which grew 5%.
According to Miguel Torres Maczassek, general manager of Bodegas Torres, “2014 was a good year, both domestically and internationally. In Spain, our growth is mainly due to two factors: On the one hand, a boost in the hotel and restaurant sector where sales were up 9% compared to 2013. And, on the other hand, sales going up in the Canary Islands, where an excellent tourist season contributed to a 10% increase in turnover for our local subsidiary.”
Growth among the international subsidiaries has also contributed to the positive results. Torres China stands out for leading all company subsidiaries in terms of turnover, bringing in over 27 million euros in 2014, up 7% compared to 2013 despite austerity measures introduced by the Chinese government. Miguel Torres Chile, a wine-producing subsidiary since 1979, came in second, with turnover in euros up 5% in 2014. Sales figures were around 20 million euros despite the obvious depreciation of the local currency. In addition, Brazilian distributor Devinum, fully owned by Bodegas Torres since last year, grew by 9%. Meanwhile, Torres Import, the company dedicated to the distribution of gourmet products, saw a 14% jump in turnover in 2014 compared to 2013.