Bodegas y Viñedos de La Concepción S.A.

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What it is

Bodegas y Viñedos de La Concepción is a Bolivian company dedicated to producing and selling wine and singani, with its vineyards and cellars in the Valle de La Concepción, in the department of Tarija. The vineyards sit at over 1,750 metres above sea level — an altitude that concentrates aromatics in the grape skins and gives the wines a distinctive mountain signature found nowhere else in South America.

Commonly known as BVC, the company produces a wide range of red, rosé and white wines — Cabernet Sauvignon, Syrah, Merlot, Chardonnay, Sauvignon Blanc, Riesling and Franc Colombard among them — and also makes singani, Bolivia’s native grape brandy, sold under the brands Rujero and Tarixa. The wine range runs from everyday table wines through to varietal, reserva and premium tiers.

Who owns it

The company’s registered capital is Bs 21.5 million, and its principal shareholders are Inversiones IKM S.A. and Inversiones Comdisa S.A. A shareholder meeting in June 2021 approved an increase in paid-up capital to Bs 22,003,000 — roughly US$2.24 million at today’s rate — through a Bs 7 million capitalisation by Inversiones IKM S.A., with authorised capital set at Bs 44,006,000.

Industry sources identify Claudia Morales as an owner of the business. Not published: the exact ownership percentages held by Inversiones IKM S.A. and Inversiones Comdisa S.A. and the public free-float were not disclosed in available open filings on the BBV participant page (www2.bbv.com.bo/participantes-del-mercado/participante/?participante=BVC-emi, accessed July 2025, server timed out) or on the ASFI regulator page (appweb.asfi.gob.bo).

Bolivian securities law (Ley del Mercado de Valores No. 1834 and ASFI circular) requires listed companies to disclose significant shareholdings; those disclosures are filed with the BBV but the exchange’s document server was unreachable at time of writing.

Who runs it

Not published: the names of the chief executive, board chairman, and chief financial officer were not available in any open primary source — the BBV participant page (which lists memorias anuales and financial statements for 2018–2022) timed out on repeated access attempts, and the ASFI regulated-entity page returned only a fragment. The company was formally incorporated on 1 June 1993.

The BBV participant page confirms that annual reports (memorias) for 2018 through 2022 are filed and linked on the exchange, and any reader can retrieve board names directly from those documents at www2.bbv.com.bo/participantes-del-mercado/participante/?participante=BVC-emi once the server is accessible.

The money, in plain words

Not published: BVC’s revenue, net profit, net margin, return on equity and total assets are not available in any open primary source the research team could access. The EMIS commercial database holds audited figures through 2023 but behind a paywall.

What EMIS does publish in its free summary is that the company’s net income fell by 89.4% in the first quarter of 2024 versus the same period a year earlier, while total assets were nearly flat, growing just 0.4%. That is a striking drop in profit — not a rounding error — and is the sharpest signal available from public sources about the company’s recent trajectory.

The company has approximately 211,590 shares outstanding, split between ordinary (BVC1U) and preferred (BVC2U) classes. The paid-up capital of Bs 22,003,000 (~US$2.24m) makes this a micro-cap by any global standard; trading on the BBV is infrequent and the quoted market price shown by aggregators is zero, meaning the market value — the price of all shares combined — cannot be calculated from public data.

What it is doing now

The company’s own website, updated in January 2026, describes itself as producing “wines and singanis of altitude” at 2,018 metres above sea level, carrying on a passion of “more than four decades.” That phrasing implies roots going back to the early 1980s, predating the 1993 formal incorporation. The sharpest recent development visible from public records is the near-collapse in quarterly earnings in early 2024 — likely reflecting Bolivia’s broader economic stress, including an acute dollar shortage that has squeezed imported inputs and consumer purchasing power across the country.

What to watch

• Earnings recovery. Whether the 89% net income fall in Q1 2024 was a one-quarter shock or the start of a sustained squeeze is the single most important question for any investor. The next filing at the BBV will answer it.
• Bolivia’s foreign-exchange crisis. The country has been running low on dollar reserves since 2023; a winery buying imported equipment or bottles in dollars while selling in bolivianos faces a real squeeze on its cost base.
• Singani’s international moment. Bolivia’s native brandy has been gaining recognition abroad (it won a US legal definition as a distinct spirit in 2023). If BVC’s Rujero and Tarixa brands ride that wave, export revenue could offset domestic weakness.
• Disclosure gap. The company files memorias and financial statements with the BBV, but those documents were inaccessible during this research. A reader who needs the numbers should go directly to www2.bbv.com.bo/participantes-del-mercado/participante/?participante=BVC-emi — the PDFs are there when the server is up.

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This is news, not investment advice.