Monde Nissin Corp. has set aside P7.55 billion as capital expenditures this year, over 50 percent more than last year’s P4.86 billion that underscores its commitment to strengthen its commercial operations, particularly the Asia Pacific branded food and beverage (BFB) division. The planned deployment also addresses the challenges at its veggie meat business under Quorn Foods.
Jesse C. Teo, Monde Nissin chief financial officer, said the company has earmarked P976 million of the budget to bolster the struggling veggie meat business, which is undergoing restructuring to achieve better efficiency. The remaining P6.58 billion is meant for its growing Asia Pacific BFB sector, with a significant portion dedicated to developing a new biscuit plant in Northern Luzon. The plant is expected to help the company address supply constraints in the biscuit category and generate sales exceeding P10 billion once operational.
In 2024, Monde Nissin made notable strides toward financial recovery, reporting a profit of P449.51 million, a turnaround from prior year’s loss of P626.57 billion. This improvement was driven by higher core net income, offset by a P6.8 billion non-cash impairment of assets in the veggie meat business and a P2.6 billion loss on the fair value of the veggie meat guarantee asset.
Despite challenges in the alternative protein segment, Monde Nissin’s consolidated revenue increased by 3 percent to P83.12 billion, up from P80.17 billion the previous year. Henry Soesanto, company CEO, credited the growth to the performance of its APAC BFB business, which delivered record revenue and profitability.
Soesanto expressed optimism for 2025, forecasting mid-single-digit revenue growth and stable gross margins, with variations anticipated due to cost-saving initiatives and commodity price fluctuations.
