International premium spirits company Edrington has today announced a strong financial performance for a year of “outstanding growth and investment” with the company posting a 25% rise in core contribution and exceeding £1 billion in core revenue for the first time.
*Figures stated before exceptional items
- Edrington’s leading brand, The Macallan, continued to lead the Company’s performance, with high demand for premium products including The Macallan James Bond Collection, The Red Collection 77-year-old and The Macallan M series. The Glenrothes, Highland Park and Naked Malt performed well across key markets, growing the value of sales ahead of the increase in volume.
- Scotland’s favourite whisky The Famous Grouse performed well in its core markets in northern and eastern Europe, with good recovery in Global Travel Retail and a strong performance in the UK.
- Brugal, Edrington’s premium rum, continued to generate outstanding growth in its home market of the Dominican Republic and in Spain, its leading international market. Its ultra-premium expression Brugal 1888 has continued to perform strongly.
- Acquired 50% stake in Grupo Estévez of Jerez, securing a sustainable supply of the finest quality Sherry wines to season The Macallan’s signature oak casks.
- Became majority shareholder in ultra-premium American Whiskey brand Wyoming Whiskey.
- Appointed Igor Boyadjian, Managing Director of The Macallan business unit, and Kengo Torii, representing Suntory Holdings, to the Edrington Board.
- Met independently-verified carbon reduction targets as part of its commitment of reaching Net Zero by 2045.
- Corporate rebrand reflecting the modern, international Edrington that is driven by great people who share a common purpose.
Commenting on the results, Scott McCroskie, Chief Executive, said:
“Our business has delivered another highly successful year, despite a range of external challenges. Revenue from our spirit brands passed £1 billion for the first time and core contribution increased by 25% from last year’s record result.
“This strong trading performance has allowed us to invest industry-leading sums behind our brands, our people and our operations, as well as funding a substantial buyback of shares.
“The business delivered a strong performance in almost every country where our products are sold, with particularly strong sales in China, Hong Kong, Taiwan, the UK, Spain, the Dominican Republic and the USA.
“Whilst the economic landscape will continue to be challenging, the trading environment is improving. We have healthy brands, an effective strategy, record levels of investment in the business, great people and strong momentum. I am confident that Edrington is well-positioned to deliver sustainable success in the future.”
Edrington has this week launched a new corporate brand identity inspired by its people, values and heritage. At the heart of the new identity is The Bond icon, a symbol that takes inspiration from its heritage branding and from the family crest of the company’s founders, the Robertson family.
Notes to editors
Images and logos can be downloaded here.
Edrington’s vision is to give more by crafting exceptional ultra-premium spirit brands.
The Macallan is our central focus, supported by Highland Park and The Glenrothes in the fast-growing single malt category and Naked Malt in the blended malt category. Our portfolio is completed with Brugal premium rum from the Dominican Republic, The Famous Grouse Blended Scotch Whisky, and Wyoming Whiskey and Noble Oak in the American Whiskey category. Edrington also has a strategic partnership with No.3 London Dry Gin.
Edrington is headquartered in Scotland and employs over 3,000 people in its wholly owned and joint venture companies, with over half employed outside the UK. We own our route to market in 16 countries and distribute our brands to more than 100 countries around the world through joint ventures and third-party agreements.
Edrington’s principal shareholder is The Robertson Trust, which has donated £343 million to charitable causes in Scotland since 1961. Our business is underpinned by the Edrington values of giving, respect, integrity and excellence.