Ginebra San Miguel Inc. (GSMI) grew its profit last year by 9 percent to P4.5 billion from P4.13 billion in 2021.
The company said volume growth and higher selling prices led consolidated sales to increase by 11 percent to P47.3 billion.
Income from operations of P6 billion and earnings before interest, taxes, depreciation and amortization of P6.7 billion were also 13 percent and 7 percent higher, respectively.
GSMI said strong brand equity, relevant campaigns and a continuous push to expand distribution coverage in new markets allowed it to sustain its volume ascent and remain the market leader in the hard liquor category.
“GSMI is one of the few companies that continued to grow despite the challenges of the past years. This is genuine proof of the company’s strength and true resiliency,” said Ramon Ang, GSMI president.
Ang added GSMI posted 7 percent volume growth across various product lines that significantly boosted the company’s bottom line.
Ginebra San Miguel delivered record-breaking sales volumes, the highest in the history of the brand. Vino Kulafu also saw substantial volume increases in 2022, while GSM Blue Flavors and Primera Light Brandy sustained high volume growth.
GSMI has declared a P2.50 per share cash dividend, divided into P0.75 regular cash dividends and P1.75 special cash dividends, to be paid to shareholders as of record on March 24. – Ruelle Castro
