Tanduay Distillers, Inc. (TDI) achieved a record net income of Php2.15 billion in 2024, a 37% increase from the previous year. Growth was driven by higher liquor and bioethanol sales and strategic price hikes, pushing segment revenues to Php33.85 billion.
Despite economic challenges like inflation and weather disruptions, TDI strengthened its dominance in the Visayas and Mindanao, holding over 70% market share in both. Nationally, its distilled spirits market share slightly dipped to 32.2% amid tougher competition.
To streamline operations, TDI sold its stake in Asian Alcohol Corporation for Php1.8 billion in October 2024, with Php480 million paid upfront. The move supports TDI’s goal to optimize its core business.
TDI’s strong results helped parent company LT Group, Inc. (LTG) achieve a 14% rise in net income to Php28.92 billion in 2024. TDI contributed Php2.14 billion, highlighting its crucial role in LTG’s diversified portfolio.
Other LTG subsidiaries also performed well: Fortune Tobacco Corporation’s net income grew 12% to Php12.77 billion; Philippine National Bank’s earnings rose 11% to Php21.18 billion.
Asia Brewery, Inc. posted a 46% net income jump to Php841 million due to increased sales, while Eton Properties saw a 53% income drop to Php212 million from weaker leasing revenues. Victorias Milling added Php492 million to LTG’s earnings.
LTG rewarded shareholders with a special Php0.35 per share dividend in November, bringing the total 2024 payout to Php1.25 per share or Php13.53 billion, representing a 53.2% payout rate.
With strong financials, strategic moves, and market leadership, Tanduay continues to be a cornerstone of LTG’s success in the Philippine business landscape.
