GSMI still on growth track, earns P1.3 billion in 3 months

MANILA, Philippines — Ginebra San Miguel Inc. (GSMI), the liquor company of conglomerate San Miguel Corp., sustained its growth momentum with net income attributable to parent reaching P1.3 billion in the first quarter, up 30 percent   from P1 billion a year ago.

This was driven by an 11 percent increase in revenue to P12.6 billion during the review period.

The company likewise strengthened its lead in the hard liquor category for the first quarter   with a market share that is 10-percentage points ahead of its nearest competitor, according to research company Nielsen.

This, as the company’s marketing campaigns along with on-ground activities and aggressive selling contributed to its strong performance.

Its latest campaigns include “Hanggang Huling Patak ng Bagong Tapang” which mirrored the real-life struggles, sacrifices, and never-say-die spirit of Filipinos during the pandemic,

For full year 2021, GSMI recorded a revenue of P42.5 billion, 17 percent higher than the previous year, while operating income registered an increase of 39 percent to P5.3 billion.

The company also posted a full-year net income of P4.2 billion, 52 percent higher than prior year – setting a new record for the company despite the pandemic persisting in 2021.

This was on the back of strong sales of nearly 42 million cases – the highest sales ever in a single year.

GSMI is the producer of Ginebra San Miguel, the world’s largest-selling gin according to leading global drinks journal Drinks International.

GSMI’s other quality distilled spirits include GSM Blue Light Gin, GSM Blue Mojito, GSM Blue Margarita, GSM Blue Gin Pomelo, Ginebra San Miguel Premium Gin, 1834 Premium Distilled Gin, Antonov Vodka, Añejo Gold Rum, Primera Light Brandy, and the Philippines’ no. 1 Chinese wine Vino Kulafu.