Universal Robina Corporation (URC) reported sales of Php161.9 billion for the full year ended December 31, 2024, up 3% vs. the same period last year with volume growth seen across all divisions.
Total operating income ended at Php16.7 billion, behind by 4% vs. the same period last year, driven by lower profits from the Sugar and Renewables (SURE) business correcting against the windfall of 2023. Net of SURE, URC posted double-digit operating income growth of 20% vs. last year propelled by structural margin improvements to the business. Net income from continuing operations was ahead of operating income, due to higher forex gains vs. last year. It closed at Php12.5 billion, down 2% against last year. Core net income on the other hand ended at Php12.2 billion, down 3%, in line with operating income performance.
URC also announced a dividend of Php2.00/share to stockholders on record as of April 11, 2025, with payout on May 9, 2025. Dividend is 5% higher than the same period last year.
SALES PERFORMANCE PER BUSINESS
Branded Consumer Foods (BCF): Sales for the BCF group, excluding Packaging and China, ended at Php109.5 billion for the full year ended December 31, 2024, up 2% vs. the same period last year. BCF Philippines sales closed at Php74.7 billion, flat vs. the same period last year, with most categories posting both volume and value growth, offsetting challenged segments. Value-for-money segments continued to grow faster than the rest of the portfolio, given the challenging macroeconomic environment faced by consumers. BCF International delivered sales of Php34.8 billion, up 8% vs. same period last year. All international business units delivered strong volume and value growth, despite the generally tepid consumer sentiment seen across Southeast Asia.
Agro-Industrial & Commodities (AIC): The Agro-Industrial & Commodities group recorded Php51.3 billion in sales, up 5% vs. the same period last year, as higher volumes across most of its segments offset competitive price adjustments in feeds and flour.
FOCUS ON DELIVERING VALUE
Irwin Lee, URC President and CEO, said, “We delivered strong cash generation and dividend growth while pivoting to stronger volume growth recovery, as consumer sentiments improve after absorbing multi-year inflationary pressures. We expect further improvements in URC’s growth momentum going forward as we continue to provide new product innovations and better value offers to delight our customers and consumers with good food choices.”
This press release may contain forward looking statements with respect to the results of operations and business of Universal Robina Corporation ("URC"). Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance of URC to be different from any future performance implied.
