Tanduay Distillers, Inc. (TDI) reported a record net income of P2.15 billion in 2024, a 37 percent jump from P1.57 billion the previous year, driven by strong liquor and bioethanol sales and strategic price hikes. This performance underscores the company’s commercial resilience and its central role in the broader success of its parent firm, LT Group, Inc. (LTG).
Revenue from TDI’s operations surged 13 percent to P33.85 billion, with modest volume gains of 2 percent in liquor and 1 percent in bioethanol, indicating robust consumer demand despite inflationary pressures and weather-related disruptions.
Regionally, TDI strengthened its market dominance in Visayas and Mindanao with shares of 70.6 percent and 79.6 percent, respectively. However, its national distilled spirits share edged down to 32.2 percent from 32.9 percent in 2023, amid intensifying competition.
In a key strategic move, TDI divested from Asian Alcohol Corp. in October 2024, a P1.8-billion transaction aimed at portfolio optimization. The deal includes a P480-million upfront payment, with the remainder payable over four years, aligning with TDI’s long-term focus on operational efficiency.
TDI’s stellar performance contributed P2.14 billion—7 percent—to LTG’s record P28.92-billion net income, up 14 percent year-on-year. Other LTG subsidiaries also posted solid gains, including Fortune Tobacco (P12.77 billion, +12 percent), Philippine National Bank (P21.18 billion, +11 percent), and Asia Brewery (P841 million, +46 percent). However, Eton Properties posted a 53 percent decline in net income, highlighting mixed results within the portfolio.
LTG rewarded shareholders with a special cash dividend of P0.35 per share in November, bringing total 2024 payouts to P13.53 billion, a 53.2 percent payout ratio.
TDI’s continued growth and strategic clarity affirm its pivotal role in LTG’s diversified empire and the broader Philippine corporate landscape.
