Wilcon, the Philippines’ leading home improvement and construction supplies retailer, recently reaffirmed its unwavering commitment to providing customers nationwide with the widest array of value and top-tier home improvement and finishing construction materials. This strategic focus was reiterated by William Belo, Wilcon’s esteemed Founder and Chairman Emeritus, during the company’s recent stockholders’ meeting.
Wilcon celebrated a significant milestone in December 2024, opening its 100th store a full year ahead of its original target. Mr. Belo credited this remarkable achievement and Wilcon’s enduring position as the preferred home improvement supplier to its 47 years of operational excellence and a deeply embedded culture of innovation and outstanding customer service.
Looking ahead, Mr. Belo expressed confidence that Wilcon’s management is poised to reverse its 2024 results this year and regain its robust growth trajectory in the years to come. In her report to stockholders, Ms. Lorraine Belo-Cincochan, Wilcon’s President, highlighted the company’s successful effort to open ten new stores, thereby achieving the 100-store goal ahead of schedule.
Ms. Belo-Cincochan also detailed key marketing initiatives, including the launch of a new loyalty program specifically tailored for professionals and contractors, designed to offer exclusive perks and privileges. Enhanced localized marketing programs were also emphasized, alongside necessary changes in store organization, systems, and processes aimed at continually improving the customer experience while simultaneously strengthening internal check-and-balance systems.
Presenting the company’s 2024 financial performance, previously disclosed on March 28, 2025, Ms. Belo-Cincochan acknowledged the continued market softness that resulted in lower year-on-year net sales. Despite these headwinds, she proudly stated, “We still delivered respectable results amid all the headwinds with net sales of P34.2 billion and net income of P2.5 billion for a net profit margin rate of 7.3%.” During the subsequent question-and-answer session, Ms. Belo-Cincochan reiterated the founder’s message, emphasizing the company’s commitment to returning to a growth path driven by implemented improvements in sales and increased cost efficiency.
During the meeting, the following officers were elected to the Board of Directors: Mr. Ricardo Pascua, Mr. Rolando Narciso, Mr. Delfin Warren, and Ms. Evelyn Singson were elected as independent directors. They join Ms. Lorraine Belo-Cincochan, Ms. Careen Belo, and Mr. Mark Belo, completing the seven-member board. Stockholders also approved the re-appointment of Reyes Tacandong & Co. as the company’s external auditor.
