Filtered By: Money

Emperador nets P10.1B in 2022

Andrew Tan-led brandy and whisky conglomerate Emperador Inc. saw its bottom line stand flat in 2022 amid global logistics disruptions and a high inflation environment.

In a disclosure to the Philippine Stock Exchange on Wednesday, Emperado reported a net income of P10.1 billion, relatively flat from the P10.8 billion earnings booked in 2021.

The company said it still managed to end last year in profitability despite posting a relatively flat net bottomline “amid disruptions in global logistics and high inflation rates.”

Emperador attributed its profits to the diversity of its product portfolio, with its wide array of whisky and brandy products that are available in over 100 countries worldwide.

Meanwhile, the company saw its revenues grow by 12% year-on-year to P62.8 billion, driven by the strong demand for its whisky and brandy products around the world.

Emperador said its whisky segment grew by 18%, while the brandy segment grew by 9%.

The brandy and whisky maker said last year’s performance was propelled by higher sales of its single malt whiskies across almost all of the conglomerate’s key markets around the world led by Asia, North America, and Europe, as well as the resurgence of travel retail.

The brandy segment, likewise, sustained year-on-year topline growth particularly in the Philippines, Spain, Mexico, and North America.

“We achieved top line growth to end the year with a banner performance in 2022 despite the challenges posed by high inflation, and supply chain and logistics issues. There was a lot of volatility last year, but our overall global business remained strong, led by Emperador’s single malt whiskies, which continued to enjoy strong demand across the globe. We look forward to an even better performance in 2023,” said Emperador president Winston Co.

Emperador is a global spirits conglomerate that owns Emperador Brandy, and Whyte and Mackay, the world’s fifth largest Scotch whisky producer.

The company’s portfolio of iconic brands includes Fundador Brandy, The Dalmore, Fettercairn, Jura, and Tamnavulin Single Malt Scotch whiskies.

Emperador is a publicly listed company at both the PSE and the Singapore Exchange. — Ted Cordero/RSJ, GMA Integrated News