Emperador income flat in 2022

MANILA, Philippines — Emperador Inc., the brandy and whisky company led by Andrew Tan, reported a net income of P10.1 billion last year, relatively flat from the P9.9 billion recorded in 2021.

In a disclosure to the Philippine Stock Exchange, Emperador said it “managed to show profitability amid disruptions in global logistics and high inflation rates.”

Revenue, on the other hand, grew by 12 percent to P62.8 billion year-on-year driven by strong global demand for whisky and brandy products.

Emperador president Winston Co said overall, the company’s business remained strong despite headwinds.

“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,” Co said.

Co said the company expects to perform better this year.

In 2022, the company’s whisky segment grew by 18 percent, while the brandy segment improved by nine percent.

“Last year’s robust performance of Emperador’s whisky segment 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 company said.

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

The diversity of Emperador’s product portfolio, with its wide array of iconic and sought-after whisky and brandy products that are available in over 100 countries worldwide.

Emperador is a global spirits company behind the brands Emperador Brandy, and Whyte and Mackay, the world’s fifth largest Scotch whisky producer. Its portfolio of iconic brands includes Fundador Brandy, The Dalmore, Fettercairn, Jura, and Tamnavulin Single Malt Scotch whiskies.

The company is a listed company at both the Philippine Stock Exchange and the Singapore Exchange.