Monde Nissin Corporation, a global food and beverages company, today announced its unaudited financial results for the fiscal year ending December 31, 2024, showcasing strong performance and notable growth in key financial metrics.
Consolidated revenue for FY 2024 increased by 3.7%, reaching Php 83.1 billion, with fourth-quarter growth of 5.1% compared to the same period last year.
Gross profit for the year surged by 16.0%, totaling Php 28.7 billion, while Q4 gross profit grew by 11.9%. This growth was driven by a 368 basis point improvement in gross margin to 34.5%, primarily supported by a 414 basis point margin improvement in the Asia-Pacific (APAC) Branded Food and Beverages (BFB) segment, thanks to lower commodity costs.
Core net income attributable to shareholders saw a robust increase of 28.6% year-on-year, reaching Php 9.8 billion for the full year. In Q4 alone, core net income rose by 21.3%, amounting to Php 2.3 billion.
Reported net income for the year stood at Php 450 million. While this figure was impacted by a Php 6.8 billion after-tax non-cash impairment of assets in the Meat Alternative business and a Php 2.6 billion non-cash accounting loss on the fair value of the Meat Alternative guaranty asset, it was partially offset by the strong performance in core net income.
Cash flow from operations totaled Php 12.8 billion for the year, enabling the board of directors to declare a dividend of Php 0.15 per common share. The dividend will be paid out from the company’s unrestricted retained earnings as of December 31, 2024, with a record date of April 25, 2025, and a payment date of May 22, 2025.
These results underscore Monde Nissin’s continued financial resilience and commitment to delivering value to shareholders.
