NEWS
WORLD'S BIGGEST BRANDY MAKER PHILIPPINE'S EMPERADOR DOUBLES DOWN ON SWITCH TO WHISKY
By Siulan Law Mathews DipWSET
14-8-2023
Source: Emperador
Filipino spirits maker Emperador said the construction of its whisky maturation complex at Invergordon Distillery in Scotland is underway, and it is set to double its footprint from 45.4 hectares to 92 hectares.
The extension will enable the grain distillery to house an additional 1.5 million casks of maturing whisky.
As the world’s biggest brandy producer with brands like Emeperador, Fundador and Terry, the company also owns four Scotch whisky brands – The Dalmore, Fettercairn, Jura and Tamnavilin – under its Whyte & Mackay arm.
The company has earlier said that the new facility in Scotland will start operation next year and it is looking to invest in a joint venture in China in the coming years.
The company said it would spend Pesos 6 billion (USD107m) on whisky production to meet ‘growing demand’.
It also noted that upgrades were ‘necessary’ at Emperador’s five Scotch distilleries to scale operations.
The Filipino liquor giant reported last week that its revenue climbed 11 percent to Pesos 31 billion (USD1.82b) in the first half of this year from a year ago, as its global whisky segment continued to perform.
In a bourse filing last Friday, the company said the whisky segment showed a “stellar performance”, while its brandy segment also demonstrated some growth – despite facing inflationary headwinds.
It said that growth in the whisky segment was driven by Emperador’s whisky portfolio, which continued to grow at double-digit rates in the first six months of 2023.
Key markets recording these strong double-digit growth rates were Asia and the United States.
Emperador president Winston Co pointed out that the single malt whisky portfolio was behind the strong performance.
It “continues to be among the fastest-growing single malts in the world”, he noted.
While revenues were up, the group however said recurring profit to parent was relatively flat at P4.7b, versus P4.8b pesos recorded in first half of 2022.
(the writer can be contacted at: info@thewinechronicle.com)
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