Emperador net income up to P5.9 billion

MANILA, Philippines — Emperador Inc., the listed Andrew Tan-led brandy company, grew its nine month net income to P5.9 billion, buoyed by strong international sales of its brandy and whisky products.

In the third quarter alone, the company grew 26 percent in earnings to P2.5-billion, as overseas demand for its products surged amid the global pandemic.

Emperador Inc. president Winston Co said the success of the company’s international expansion boosted earnings, bringing stability and growth.

“The company’s global business saw double-digit growth as it adapted well to new consumption trends,” Co said.

Fundador, Tres Cepas, and Emperador brands have been growing consistently, particularly in the United States, Canada, Italy, Spain, United Kingdom and Greater China.

In Spain, for instance, brands owned and produced under Grupo Emperador España S.A. continue to dominate the brandy market with a 40 percent market share.

Emperador International chief executive officer Glenn Manlapaz said the company was able to deliver solid performance in the nine month period of 2020 on the strength of its international business.

“The highest international growth comes from China, which is expected to more than double from last year, which will be driven by the premium single malt brands and brandy.  We are confident that this will pave the way for further growth in the future for Emperador,” Manlapaz said.

At present, Emperador’s brandy and whisky brands are available in more than 100 countries. It owns Emperador Distillers Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.

Last August, Emperador announced that it has taken control of the brandy market in Mexico.