Del Monte Philippines' FY2025 Ebitda rises 40%, as exports growth drives sales
The subsidiary of Philippine and Singapore-listed Del Monte Pacific said Monday (Jul 7) that Ebitda (earnings before interest, taxation, depreciation and amortisation) surged 40 per cent year on year to 8.6 billion Philippine peso (S$194 million).
Total sales grew 14 per cent to 44.2 billion peso, as global sales jumped 22 per cent, fuelled by exports of fresh pineapple and packaged products.
Domestically, sales rose 6 per cent, amid 'solid demand' across its key product categories, including beverages and packaged fruits.
Describing the performance as 'strong', Del Monte Philippines' president and chief operating officer Luis Alejandro said the result reflects the company's 'focus on consumer engagement, innovation and cost efficiency'.
The report comes as the company's Singapore-listed parent, Del Monte Pacific, is dealing with the fallout of a bankruptcy filing of its US subsidiary Del Monte Foods (DMF).
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Earlier on Monday, Del Monte Pacific said it expects to book a capital deficit on its balance sheet from write-offs in relation to DMF.
The Singapore-based company said its equity investment in DMF and certain receivables due from the US subsidiary are expected to be subject to impairment.
As at Jan 31, 2025, the Singapore-listed parent's net investment value in DMF was US$579 million. In a statement last week, it also said it had US$169 million in net receivables from DMF and its subsidiaries.
Del Monte Pacific also said that the developments are not expected to disrupt its operations beyond the US.
Last week, the company said it would have to deconsolidate DMF from its accounts as it no longer controls the US company.
Del Monte Pacific's share price rose S$0.016 or 28.6 per cent to close at S$0.072 on Monday.
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