TDI reports PHP2.15B net income, up 37%, driven by higher sales and strategic pricing

Tanduay Distillers Inc. (TDI), a unit of the Lucio Tan Group, reported a record net income of PHP2.15 billion for 2024, marking a 37 percent increase from the previous year.

The company's growth was driven by higher sales volumes in both liquor and bioethanol, along with strategic price increases that boosted segment revenues to PHP33.85 billion.

Despite economic challenges such as inflationary pressures and weather-related disruptions, TDI maintained strong market shares of 70.6 percent and 79.6 percent in the Visayas and Mindanao regions, respectively, while its national share for distilled spirits slightly dipped to 32.2 percent.

TDI's divestiture from Asian Alcohol Corporation for PHP1.8 billion helped streamline its portfolio and align with its long-term business optimization goals.

Tanduay aims to penetrate new markets in Europe and Latin America this year, building on its successful entry into the Czech Republic and South Korea in 2024.