Emperador sets P7 billion capex for 2023 to boost global growth

MANILA — Emperador Inc said on Wednesday it is investing P7 billion in capital expenditures in 2023 to boost its global growth.

A total of P6 billion is allotted for the whiskey segment while P1 billion is earmarked for the brandy business, Emperador said in a disclosure to the stock exchange.

Investments in the whiskey space are "necessary to scale operations in 5 distilleries across Scotland" especially in upgrading facilities, it said.

Part of the capex will be used to improve brandy production facilities across the Philippines, Spain and Mexico, it added.

"As we continue our internationalization journey and expand our market reach, we are investing in more and better capacity to ensure that we can supply the growing demand for our high-end premium brands," Emperador Inc President Winston Co said.

In 2022, its revenues jumped 12 percent to P62.8 billion. For the first quarter of 2023, revenues hit P15.6 billion, up 26 percent, Emperador said.

• Emperador posts P10.1 billion net profit, P62.8 billion revenues in 2022
• Emperador says it is first Philippine company in Straits Times Index

RELATED VIDEO

Watch more News on iWantTFC