Universal Robina Corporation (URC) announced a 3 percent year-over-year increase in sales for the full year ended December 31, 2024, reaching P161.9 billion. This growth was driven by volume increases across all divisions, despite challenges in certain sectors. However, total operating income dropped 4 percent to P16.7 billion due to a correction in profits from the sugar and renewables (SURE) business, following the windfall in 2023.
Excluding the impact of SURE, URC saw a solid 20 percent rise in operating income, thanks to structural margin improvements. Net income from continuing operations rose, driven by higher foreign exchange gains, but still saw a slight decrease of 2 percent, totaling P12.5 billion. Core net income was also down 3 percent, at P12.2 billion.
The company’s branded consumer foods (BCF) group recorded P109.5 billion in sales, with growth in international markets offsetting flat domestic sales. Despite a challenging macroeconomic environment, value-for-money segments performed well in the Philippines, while international business units delivered strong growth. The agro-industrial & commodities (AIC) group saw a 5 percent sales increase to P51.3 billion, boosted by higher volumes across most segments.
URC also declared a P2.00 per share dividend, marking a 5 percent increase from the previous year. This payout is set for 9 May 2025, with a record date of April 11, 2025.
URC president and CEO Irwin Lee emphasized the company’s strong cash generation and dividend growth, noting that improved consumer sentiment following inflationary pressures is expected to drive further momentum in the company’s growth trajectory.
