Edrington Sales Soar Above £1 Billion in Latest Financial Report
Edrington, the whisky giant behind The Macallan and Famous Grouse, have released their 2023 Financial Report. It highlights a 22% rise in core revenue to breeze past £1 billion.
This is despite taking action on the Ukraine War and suspending all shipments to Russia. Also, with political change in the UK and the world still reeling from the impact of the pandemic these results are all the more impressive.
Key Financial Highlights
- Core revenue: Up 22%
- Brand investment: Up 28%
- Core contribution: Up 25%
- Earnings before interest and tax: Up 40%
- Free cash flow: Down 6%
- Retained profit: Up 84%
- Strategic inventories: Up 9%
- Net debt: Up 18%
- Earnings per share: Up 85%
- Divided per share: Up 10%
Read the full financial highlights and further analysis on the Edrington website.
Edrington Brand Success
We will cover the five whisky brands owned by Edrington, The Macallan, Highland Park, The Glenrothes, Wyoming Whiskey and Famous Grouse. The Brugal is also an integral part of the Edrington portfolio, however, as a rum it is not something we cover.
The Macallan
The Macallan brand shows a strong performance in North Asia and in Global Travel Retail. It is synonymous with fine and rare whisky, producing some amazing collectables for whisky enthusiasts.
We have covered a number of recent releases. These include:
- The latest 77 year old release of The Macallan Red Collection in November 2022
- A six bottle James Bond collection to signify the six decades of Bond.
- The Macallan M Copper.
- Fine and Rare 1995, a 26 year old whisky that celebrates the year 1995.
The Macallan continues to hold a place in the hearts of whisky collectors worldwide with its highly coveted collections.
In fact, we covered the entirety of The Macallan history, from 1824 to the present day. Including the purchase of the company by Edrington in 1999.
Estate Brands
The Edrington Estate Brands portfolio features three brands of whisky/whiskey.
- Highland Park
- The Glenrothes
- Wyoming Whiskey
The acquisition of Wyoming Whiskey within the last financial year developed the ultra-premium position of Edrington.
In their financial report Edrington had this to say: “Our acquisition of a majority shareholding earlier this year gives us the opportunity to get closer than ever to every aspect of Wyoming Whiskey and increase investment behind the brand.”
Highland Park continues to produce premium whisky for collectors and enthusiasts alike. The release of the 54 year old Highland Park single malt whisky in celebration of the landmark 225th anniversary shows the exceptional staying power of the brand.
The Glenrothes had a tremendous year and the brand released two whiskies. Both
The 40-year-old Glenrothes was an exclusive in China, and the 42-year-old were well received.
The Famous Grouse
The Famous Grouse has been the best selling whisky brand in Scotland since the 1980s. In recent times, the cost of living crisis and increased costs have not impacted the sales of the blended whisky.
The brand has in fact, experienced growth in some areas, particularly the European Travel Retail market.
Edrington are positioning The Famous Grouse as a premium product for blended whisky. This can be seen with the releases of Sherry Cask Finish and Smoky Black products.
With The Famous Grouse positioning as a premium, yet sociable drink it is expected to continue to grow in new emerging markets.
Whisky is a Growing Industry
Numerous other brands have experienced significant growth in the last year. Including Loch Lomond Distillers, who posted a record turnover and doubled profits.
With growth comes investment, and most brands are investing in developing more sustainable, and more advanced facilities for whisky production.
Most of the developments for scotch whisky are occurring in Scotland. There is a strong desire to invest in the home of whisky with distilleries, warehouses and head offices being planned for the coming years.
UKV is one of the companies investing. A new whisky storage warehouse in Edinburgh is under development with advanced inventory options to allow clients to visit their investment at a time of their choosing.
UKV International AG always adjusts to the needs of their clients. They acquire and store whisky for clients, and even hold whisky tasting sessions so their whisky experts are not just a voice over the phone.
If you are interested in discovering more about investing in cask whisky, arrange a call with our experts.
Contact UKV and find out how to start your whisky journey.
