Screengrab from https://www.emperadorbrandy.com/
MANILA, Philippines – Tycoon Andrew Tan’s beverage company Emperador Distillers Inc. grew its net profit last year by 17.4 percent to P5.8 billion as revenues increased at a double-digit pace despite higher excise taxes on liquor.
In a statement on Monday, EDI said its 2013 revenue grew by 25.6 percent to P29.6 billion, supported by a 7-percent growth in volume.
“With a sales volume of 33 million cases, Emperador maintains its position as the world’s largest selling brandy brand in 2013, aside from being the largest liquor company in the Philippines,” the company said.
Emperador is expanding both its production facilities in Spain and in the Philippines with an investment of P5.8 billion in state-of-the-art vineyards, distilleries and bodegas in Spain. This year, Emperador will spend P4 billion in the Philippines for additional production capacity.
With zero debt on its balance sheet, the company ended 2013 with a cash balance of P24 billion, including P12.5 billion from share sales in the third quarter of last year.
“Emperador is a global company with strong balance sheet. We are very committed to give the best quality and best value to our customers. We will continue to invest in technology and facilities of the highest quality for world-class brandy production,” EDI chief financial officer Dina Inting said.