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Universal Robina Corporation (URC), the Gokongwei Group’s food and beverage unit, reported three percent dip in core net income to ₱12.2 billion last year due to lower earnings from its sugar and renewables business (SURE).
In a disclosure to the Philippine Stock Exchange, the firm said sales improved three percent to ₱161.9 versus the same period last year with volume growth seen across all divisions.
Total operating income ended at ₱16.7 billion, behind by four percent versus the same period last year, driven by lower profits from the SURE business correcting against the windfall of 2023.
Net of SURE, URC posted double-digit operating income growth of 20 percent from last year propelled by structural margin improvements to the business.
Net income from continuing operations was ahead of operating income, due to higher foreign exchange gains compared to 2023. It closed at ₱12.5 billion, down two percent against the previous year.
URC also announced a dividend of ₱2.00 per share to stockholders on record as of April 11, 2025, with payout on May 9, 2025. Dividend is five percent higher than the same period last year.
URC President and CEO Irwin Lee“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,” said URC President and CEO Irwin Lee.
He added that, “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.”
Sales for URC’s Branded Consumer Foods (BCF) group, excluding Packaging and China, ended at P₱109.5 billion for the full year ended December 31, 2024, up two percent from 2023.
BCF Philippines sales closed at ₱74.7 billion, flat from 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 ₱34.8 billion, up eight percent from 2023 as all international business units delivered strong volume and value growth, despite the generally tepid consumer sentiment seen across Southeast Asia.
The Agro-Industrial and Commodities group recorded ₱51.3 billion in sales, up five percent from 2023, as higher volumes across most of its segments offset competitive price adjustments in feeds and flour.
