Emperador Inc. posted a consolidated net profit of ₱3.74 billion for the six months ended 30 Jun 2026, down 6.4 per cent year-on-year as higher operating expenses, finance costs and taxes offset stronger sales and an expanded gross margin.

Earnings per share slipped to ₱0.24 from ₱0.25 a year earlier. The board declared a regular cash dividend of ₱0.1351 per share on 6 Jan 2026, payable on 29 Jan 2026; this compares with the ₱0.19 per share distribution announced in January 2025.

Group revenue and other income rose 5.0 per cent to ₱29.60 billion. By segment, Brandy remained the principal contributor, generating ₱19.20 billion, up 3.9 per cent YoY, while Scotch Whisky delivered ₱10.40 billion, an increase of 6.9 per cent. Pre-tax earnings reached ₱3.34 billion for Brandy (-1.8 per cent YoY) and ₱0.86 billion for Scotch Whisky (-12.4 per cent YoY). Gross profit across the group expanded 16.6 per cent to ₱9.47 billion, lifting the gross margin to 32.9 per cent from 30.4 per cent a year earlier.

The revenue increase was driven by resilient demand in the Philippines, Spain and Mexico for flagship brandy labels, alongside a double-digit lift in premium single-malt whisky volumes in key international markets. Cost-efficiency measures and an improved product mix underpinned the margin expansion.

Headwinds emerged from a 14 per cent rise in operating expenses as the company stepped up distribution, logistics and marketing outlays to support global growth. Financing charges climbed 25 per cent to ₱912 million on the back of debt-funded capacity projects, while income-tax expense rose 18.7 per cent. These factors compressed the net profit margin to 12.6 per cent from 14.2 per cent.

Management continued to prioritise capacity and route-to-market investment. Capital expenditure reached ₱1.03 billion, mainly for distilling and maturation upgrades in Scotland and plant enhancements in the Philippines. Liquidity remained strong, with a current ratio of 4.57 times and cash and cash equivalents of ₱9.58 billion. Net debt stood at ₱42.97 billion, keeping the debt-to-equity ratio at a conservative 38 per cent.

Looking ahead, the group said facility expansions and commercial scaling are designed to capture rising global spirits demand while maintaining disciplined cost control and a stable capital structure.