Monde Nissin Corp. reported a 7 percent year-on-year decline in attributable core net income to ₱4.73 billion in the first half of 2025, down from ₱5.1 billion, primarily due to weaker performance in its branded food and beverage (BFB) business across the Asia Pacific and a foreign exchange loss, the company said Wednesday.
The decline was partially attributed to the Philippine peso’s appreciation to ₱56.33 against the US dollar by end-June, reversing a gain from the same period last year. Despite this, consolidated net sales grew a modest 3 percent to ₱41.45 billion, supported by a 4 percent increase in branded product sales—including Lucky Me! noodles and SkyFlakes crackers—to ₱34.86 billion.
However, its meat alternative unit, which includes Quorn, saw a 3 percent drop in revenue to ₱6.59 billion. CEO Henry Soesanto noted improving momentum in both segments, citing July as the strongest month of the year so far for APAC BFB sales, and highlighting a return to year-over-year growth in the meat alternative category for the first time in years.
Gross margins faced pressure in the second quarter despite cost-saving efforts, and the company expects full-year margins to be lower than 2024 due to persistent input cost challenges. Still, the meat alternative business reported positive EBITDA for the quarter, with over 200 basis points of margin improvement.
Monde Nissin said it remains focused on stabilizing performance and adapting to changing consumer trends as it navigates cost pressures and category headwinds.
