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Manila Bulletin devider Business devider The Stock Market devider Visayas, Mindanao strongholds power Tanduay's profit growth in 2024

Visayas, Mindanao strongholds power Tanduay's profit growth in 2024

Published Apr 24, 2025 06:21 am

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Tanduay Distillers, Inc. (TDI), the spirits unit of the Lucio Tan Group, posted a 37 percent growth in net income to a record ₱2.15 billion in 2024 from the ₱1.57 billion earned in the previous year. 

In a statement, the firm said this growth was driven by a combination of higher sales volumes in both liquor and bioethanol, which rose by two percent and one percent, respectively, along with strategic price increases that boosted segment revenues by 13 percent to ₱33.85 billion.

Despite economic headwinds, including inflationary pressures and weather-related disruptions that impacted consumer spending, TDI reinforced its leadership in the Visayas and Mindanao regions, where it maintains commanding market shares of 70.6 percent and 79.6 percent, respectively. 

However, on a national scale, TDI’s market share for distilled spirits slightly dipped to 32.2 percent from 32.9 percent in 2023 due to heightened competition in the sector.

In a strategic move to streamline its portfolio and focus on core operations, TDI divested its investment in Asian Alcohol Corporation in October 2024.

The sale, valued at ₱1.8 billion, is structured with a four-year payment term and includes an upfront cash payment of ₱480 million. This transaction aligns with TDI’s long-term vision of optimizing its business and enhancing economic viability.

Tanduay is aiming to penetrate new markets in Europe and Latin America this year after successfully venturing into the Czech Republic and South Korea in 2024.

The firm said “Plans are underway to establish a brand presence in France, Italy, Spain, Denmark, the Nordic Region, and Latin America.”

As of January 2025, Tanduay products are available in Armenia, Australia, Austria, Belgium, Canada, Costa Rica, Czech Republic, Georgia, Germany, Hungary, Luxembourg, Malta, New Zealand, People's Republic of China, Peru, Poland, Singapore, South Korea, Taiwan, the Netherlands, United Arab Emirates, United States, and United Kingdom.

Tanduay aims to build on its accomplishments from the past year during which it won prestigious international medals to solidify its position as one of the spirits industry's leading brands.

“We continue to strike the perfect balance between heritage and progress. This duality—the fusion of tradition and modernity—is at the heart of our campaign and allows us to connect with people, not only in the Philippines but around the world,” said Lucio Tan III, President of LT Group and Tanduay.

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