Emperador Inc. revenues improve in 2022

MANILA, Philippines — Liquor conglomerate Emperador Inc. (EMI) saw global sales flourish in 2022, sustaining demand across its segments amid roiling headwinds.

In a disclosure sent to the Philippine Stock Exchange on Wednesday, EMI reported revenues rose 12% year-on-year to P62.8 billion in 2022. The growth came on the back of improved demand across its whisky and brandy segments.

The publicly-listed liquor giant owns Whyte and Mackay, the world’s fifth largest Scotch whisky producer, and included Fundador Brandy, The Dalmore, Fettercairn, Jura, and Tamnavulin Single Malt Scotch whiskies in its portfolio.

The Tan-led firm noted its whisky segment expanded 18% on-year in 2022, while its brandy arm inched up 9%.

That said, EMI noted growth in the whisky segment was anchored by sales of single malt whiskies in Asia, North America, and Europe and travel retail picking up in the past year. 

The brandy segment expanded in markets 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,” said EMI president Winston Co. 

Net profits to owners amounted to P10.1 billion in 2022, as the disclosure noted this was “relatively flat.” 

“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 added. 

Shares at EMI currently trade flat at P20.95 apiece towards the end of midday trading on Wednesday. — Ramon Royandoyan