Vitarich Corporation, a premier poultry integrator and manufacturer of animal feeds and food products in the Philippines, posted exceptional results in 2024, achieving revenues of ₱12.539 billion, a net income of ₱216.6 million, and earnings per share of ₱0.071.
“2024 was a landmark year for VITA, showcasing our strongest annual profit and significant strides in innovation,” stated, Rocco Sarmiento, the Chief Executive Officer. “Our focus on maintaining a balanced portfolio, driving cost efficiency, and optimizing the supply chain has strengthened our position for sustainable growth.”
Performance Highlights
Revenues of ₱12.539 billion slightly surpassed the previous record set in 2023. This growth was driven by the foods segment, which benefited from strategic shifts to modern trade and hotel, restaurant, and institutional partnerships, coupled with favorable market dynamics such as volume growth and recovery in chicken prices. These gains compensated for reduced feed revenues, which were impacted by the lingering effects of the African Swine Fever outbreak.
Operating profit soared 37 times to ₱397.8 million, even as expenses related to distribution channel expansion and e-commerce rose 23.7%. Operating expenses as a percentage of sales increased to 8.8% from 7.2% in 2023.
Net income skyrocketed 16 times to ₱216.6 million, reflecting profitability across all business segments.
Segment Performance
Foods: Revenues climbed to an all-time high of ₱7.438 billion, up 7.1% year-on-year, supported by a 4.3% growth in volume and a 2.3% increase in pricing. Geographically, Visayas led with strong double-digit volume growth, while Luzon remained the largest contributor with positive pricing and volume trends. Foods accounted for 59.3% of total revenues, up from 55.6% in 2023.
Feeds: Revenues declined 12.1% year-on-year to ₱4.507 billion due to weaker volumes and prices, particularly in Luzon and Mindanao. While layer feed volumes grew 25.8%, demand for hog feeds remained subdued due to the impact of African Swine Fever. Feeds contributed 35.9% to total revenues, down from 41.0% in 2023.
Farms: Revenues grew 40.0% year-on-year to ₱594.2 million, driven by higher net gains from biological assets like day-old chicks, reflecting improved selling prices. Farms represented 4.7% of total revenues, up from 3.4% in 2023.
ESG and Community Initiatives
Aligned with its Environmental, Social, and Governance (ESG) commitments, VITA distributed ₱12.447 billion in value to stakeholders, including ₱10.999 billion to suppliers, ₱371.4 million in employee wages and benefits, and ₱296.6 million in taxes and fees. Notably, 95% of the company’s procurement budget was spent on local suppliers, fostering domestic economic growth.
Among its initiatives, VITA launched the Sagip Kalikasan program in Bulacan, utilizing bamboo to address climate change, water purification, and community development. This project aims to rehabilitate riverbanks, improve water quality, sequester carbon dioxide, and provide education and livelihood opportunities, in line with the United Nations Sustainable Development Goals.
2025 Outlook
Looking ahead, VITA plans to accelerate growth and expand market share by bolstering its Foods segment through the Cook’s brand, scaling fresh and ready-to-cook chicken products, and increasing marketing investments. A strategic partnership with NOVOGEN in the Farms segment is also expected to spur growth and yield benefits across the company’s portfolio. For 2025, VITA projects double-digit revenue growth and significant improvements in income as it continues to execute its growth strategy.
