Emperador’s normalized net profit grew 35% to P7.9B in 1st 9 months of 2021
Emperador Inc. saw normalized net profit to owners grow by 35% year-on-year to P7.9 billion in the first nine months of 2021, while revenues rose by 11% to P38.4 billion.
Even after deducting a non-cash deferred tax expense, net profit to owners increased by 24% to P7.3 billion.
The international brandy business led by Fundador continues to do well in the UK, US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines. The whisky business also continues to pace strongly in North America, Europe as well as Asia, which is led by China.
Emperador Inc. president Winston Co said, “The net income in the first nine months of this year already matched 2020’s full-year earnings of P8 billion. We are extremely delighted with our performance in spite of challenges in global logistics as well as the hard lockdown in the Philippines in the third quarter of 2021. Our highly seasoned management team has brilliantly delivered stellar quarter on quarter results through these extraordinary times.”
Co added, “We are confident that 2021 will be another banner year for Emperador. As economies open up, we look forward to an even better 2022.”
Emperador Inc is a brandy and whisky conglomerate that is listed on the Philippine Stock Exchange with a market value of USD5.7 billion. It owns Fundador – Spain’s oldest and largest brandy and sherry maker with 300 years of brandy heritage. It also owns Whyte & Mackay – the fifth largest whisky manufacturer globally with 175 years of whisky heritage. Emperador has a compelling product presence in at least 100 countries across six continents.
