Tanduay Distillers Inc. (TDI), a subsidiary of LT Group Inc. (LTG), said it posted a record net income of P2.15 billion in 2024, up 37 percent from P1.57 billion in the previous year on higher sales volume and price adjustment.
Revenues rose 13 percent to P33.85 billion, as liquor sales volume went up 2 percent, while bioethanol output rose 1 percent.
Despite inflation and weather-related challenges, TDI strengthened its market leadership in the Visayas and Mindanao.
It posted market shares of 70.6 percent and 79.6 percent in those regions. However, its national market share dipped slightly to 32.2 percent from 32.9 percent in 2023 due to increased competition.
TDI sold its stake in Asian Alcohol Corp. in October 2024 for P1.8 billion. The deal included a four-year payment term with P480 million paid upfront.
The move is part of TDI’s strategy to focus on core operations and improve long-term value.
TDI’s strong results contributed P2.14 billion, or 7 percent, to LTG’s total net income of P28.92 billion in 2024.
“With its robust financial performance, strategic initiatives, and continued market leadership, Tanduay Distillers remains a key pillar of LTG’s success,” the company said.
LTG also declared a special cash dividend of P0.35 per share in November, totaling P3.79 billion. The total dividend payout for the year reached P13.53 billion or P1.25 per share, representing a 53.2-percent payout rate.
