Ginebra San Miguel Inc. (GSMI) delivered another solid performance in 2022, setting a new record net income of Php 4.5 billion, 9% higher than the previous year, despite the challenging headwinds caused by global supply chain disruptions, high inflation, and the weak peso.
With volume growth and higher selling prices, consolidated sales reached Php 47.3 billion, 11% more than the previous year. Income from operations of Php 6 billion and EBITDA of Php 6.7 billion were also 13% and 7% higher, respectively.
Strong brand equity, relevant campaigns, and a continuous push to expand distribution coverage in new markets enabled GSMI 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,” says GSMI President and CEO Ramon S. Ang.
In 2022, total volume growth of 7% across various product lines significantly boosted the company’s bottom line.
Flagship brand Ginebra San Miguel delivered record-breaking sales volumes, the highest in the history of the brand. Complementing its on-ground programs was the well-received “Hanggang sa Huling Patak ng Bagong Tapang” thematic campaign which won the Catholic Mass Media’s Best TV Ad Award in 2022 as well as earned for the brand the Best Digital Ad award for the third straight year.
Chinese wine Vino Kulafu also saw substantial volume increases in 2022, while GSM Blue Flavors and Primera Light Brandy sustained high volume growth as the popularity of these brands continued to rise.
GSMI’s most premium product, the carefully crafted 1834 Premium Distilled Gin, infused with unique Philippine botanicals that deliver a refreshingly smooth gin experience, continues to impress even the most discerning consumers.
Other existing premium brands also got an upgrade. GSM Premium Gin now has a new look with its sleek and elegant bottle matched with a metallic label. Antonov Vodka, on the other hand, is even more eye-catching with a lighter shade and bolder font on its label.
The Board of Directors of Ginebra San Miguel Inc., in a meeting held last March 08, 2023, also approved the declaration and payment of regular cash dividends of Php 0.75 and special cash dividends of Php 1.75 on common shares to all shareholders of record as of March 24, 2023.