Emperador bullish for 2023 after prior year’s growth amid challenges

EMPERADOR, Inc. announced on Wednesday that its net income for 2022 had increased slightly to P10.1 billion from P10 billion in the previous year, attributed to a rise in sales in its brandy and whisky segments.

“Despite posting a relatively flat net profit last year, the company still managed to show profitability amid disruptions in global logistics and high inflation rates,” the company said in a statement.

“This can be attributed to 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,” it added.

Revenues for 2022 totaled P62.8 billion, up 12.3% from P55.9 billion the previous year.

“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,” Emperador President and Chief Executive Officer Winston S. Co said.

He also said that the company’s international business remained robust despite last year’s volatility, driven by high demand for its whisky segment.

“We look forward to an even better performance in 2023,” Mr. Co added.

The company reported that its whisky segment performed well last year due to increased sales of its single malt whiskies in major global markets, particularly in Asia, North America, and Europe. The recovery of travel retail also contributed to the segment’s performance.

Emperador is a global spirits conglomerate focused on brandy and whisky. It owns Whyte and Mackay and other brands including Fundador Brandy, The Dalmore, Jura, and Tamnavulin single malt Scotch whiskies.

The company is listed on the Philippine Stock Exchange and Singapore Securities Exchange.

Emperor shares closed 0.24% higher at P21 apiece on Wednesday. — Adrian H. Halili