Annual Report 2026 - Malt Whiskies

It is an honour to have taken on the role earlier this year of Chief Marketing Officer for Edrington’s Single Malt Scotch Whiskies. Led by The Macallan - which is established as the world's most valuable single malt - our brands are in good health. 

The performances shared in this report are supported by talented global brand teams and the outstanding work of our colleagues in markets around the world, whose expertise and commitment have helped us navigate a challenging year.

We have continued to invest in the quality, distinctiveness and desirability of The Macallan, The Glenrothes and Highland Park, supported by clear positioning, disciplined execution and excellent collaboration across our business.

The Macallan performed strongly during the year. Consumer demand for our core range remained high, with particularly strong interest in The Macallan 12 Years Old as we attracted new consumers coming into the brand in existing and new markets. This was supported by one of the most significant brand initiatives we have undertaken in recent years: the introduction of new packaging for The Macallan Timeless Collection. The launch represented a major undertaking across every market, and has helped further elevate the brand’s visibility, consistency and appeal.

The Macallan’s brand strength continues to be reflected in independent brand health measures, which show that it is exceptionally well known, well regarded and likely to be chosen by consumers. We also increased distribution during the year, and independent data from IWSR shows that The Macallan gained market share both globally and across key markets. This performance underlines the enduring strength of the brand and the effectiveness of sustained investment in long-term brand building.

Innovation and storytelling remained important drivers of engagement during the year. The Macallan continued to create excitement with the launch of new editions A Night on Earth - The First Light, the next chapter in our long association with James Bond, Diamonds Are Forever and Distil Your World Paris, which was inspired by Parisian gastronomy. The success of The Macallan 110 in the USA has led to its release in other markets.

We continued to make progress in building the strength and distinctiveness of our other single malts. The Glenrothes built further momentum over the year, supported by releases such as the 15 Years Old and The 51. In particular, The 51 represented an important moment for the brand, demonstrating its ability to compete at the highest end of the prestige single malt category and expressing clearly what the brand stands for.

Highland Park also delivered encouraging progress, although it was more affected by pricing competition in its core markets. In a highly competitive market, the 12 Years Old achieved volume growth, supported by continued focus on distribution and brand visibility. Highland Park Cask Strength: Heather and Between You and I helped highlight the brand’s distinctiveness and Orkney heritage.

Underpinning all of this work is our commitment to quality and our guarantee of 100% natural colour across all our single malts. This important point of distinction stems from a unique sherry-seasoned cask supply chain, which not only supports exceptional spirit quality but also tells a compelling story about our products.

Looking ahead, our priority remains to build brand power in a way that creates lasting value. That means continuing to create desire for our brands, working closely with our regional and market teams to support growth opportunities, and maintaining the discipline needed to protect the equity and luxury credentials of our portfolio over the long term. Our brand strategies are clear, our brands are distinctive, and we see significant opportunities to build further on the strength of our single malt whisky brands.

I would like to thank all of our teams around the world for their contribution over the past year. Their commitment, ambition and collaborative spirit have played a critical role in the progress we have made, and I am excited about the opportunities ahead.