Emperador’s 1Q Income up 10% to PhP1.74-B

The world’s largest brandy company owning the iconic Emperador Brandy, Fundador Spanish Brandy de Jerez and the luxury Single Malt Scotch Whisky The Dalmore – registered revenues of PhP11-billion in the first quarter of 2019, up 13% versus the same period last year. Net profit attributable to equity holders of parent company went up by 10% to PhP1.74-billion.

Emperador Inc. (PSE: EMP) President Winston Co said, “Our overall business continues to show robust performance. Following 2018’s exceptional year with business growing in every region of the world – from Europe to North America, from Middle East to Africa, and from the Pacific to Asia. Whisky and premium brandy sales in the first three months of 2019 again proved to be strong. This continues to be driven by our malt whisky and premiumization strategy.”

The company introduced three malt whiskies to enhance the malt portfolio of Whyte and Mackay in the last two years – Tamnavulin, Fettercairn, and Shackleton – which further solidified the company’s compelling malt strategy. The three brands showed robust signs of growth during the first quarter of 2019.

Co added, “We are particularly excited about Shackleton Blended Malt Scotch, which is based on the spirit supplied to the 1907 British Antarctic Expedition, expertly crafted using a selection of the finest Highland Single Malt Scotch Whiskies. In fact, Charles Mackinlay & Company, which was the source of Mackinlay’s Rare Old Highland Malt whisky supplied for the expedition, is part of Whyte and Mackay’s Invergordon distillery.”

Shackleton Malt Whisky was launched in 2017 and continues to gain in stature within this new contemporary category. The initial focus of this brand has been the UK, US and Travel Retail where the legend of Sir Ernest Shackleton is well known. Shackleton Malt Whisky will officially be launched in the Philippines this year.

Co also said, “For our brandy business, the first three months of 2019 again saw premium brandy driving growth. Fundador and Tres Cepas were the fastest growing brandies amongst the foreign brandies sold in the Philippines during the first quarter of this year. With the premium brandies exhibiting growth, our brandy premiumization is well underway.”

Emperador Inc., with its premium and luxury brandy and malt whiskies, is well-equipped to lead the premiumization wave in Philippine liquor.

Meanwhile, the company has recently announced an extension of its two-year share buyback of up to PhP5-billion that is scheduled to end by middle this month. Emperador Inc. can repurchase up to PhP3-billion for another 12 months ending on May 16, 2020. Since the start of the buyback two years ago, about 279 million shares have been bought back, amounting to approximately PhP2- billion.

Emperador Inc., a publicly listed company at the Philippine Stock Exchange, owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.

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