Q4 2024 Monde Nissin Corp Earnings Call Transcript
Key Points
- Monde Nissin Corp (PHS:MONDE) achieved a record annual revenue of PHP83.1 billion, marking an all-time high for the group.
- The APAC PIP business, which constitutes 84% of the company's top line, grew by 8.7% year-on-year in Q4 and 5.4% for the full year.
- The company maintained its market leadership in the noodles segment, with a market share increase of 140 basis points to 68.7% in Q4 2024.
- Monde Nissin Corp (PHS:MONDE) reported a 21.2% increase in core net income, driven by FX gains and strategic US dollar stockpiling.
- The company declared a dividend of PHP0.15 per share, amounting to PHP2.7 billion, reflecting strong retained earnings.
- The meat alternative segment faced challenges, with a 9.3% year-on-year decline in revenue for the full year.
- Monde Nissin Corp (PHS:MONDE) recorded a PHP6.9 billion impairment on its meat alternative investment, impacting reported net income.
- The company's reported net income for Q4 was negative PHP5.6 billion due to non-core charges.
- The biscuit segment faced supply constraints, affecting its ability to meet demand and resulting in a stable market share.
- The foodservice business underperformed, contributing to a decline in the meat alternative segment's sales.
Good afternoon, and welcome to Monde Nissins's fourth-quarter and full year 2024 earnings call. I am Mike Paska, Head of Investor Relations. On today's call with me are Henry Soesanto, Chief Executive Officer; Jesse Teo, Chief Financial Officer; David Flochel, Chief Executive Officer of Quorn Foods; and Nick Cooper, Chief Financial Officer of Quorn Foods.
By now, everyone should have access to today's presentation and press release, these are all posted on the PSC Edge website earlier today. This information can also be found in the Investors section on Monde Nissin's website.
And finally, before we begin, please note that the financial information being presented is unaudited and during the course of this call, management may make forward-looking statements based upon current assumptions and expectations. These are not guarantees of future performance, and I encourage everyone to read the disclaimer in today's presentation.
Now I'd like to turn the call over to Henry. Henry?
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