Gokongwei-led Universal Robina Corp. (URC) reported a 2% decline in net income to P12.5 billion in 2024, coming from a higher base the previous year. The company’s core net income, which excludes nonrecurring gains, also dropped by 3% to P12.2 billion. Despite the decline in earnings, revenues grew modestly by 3%, reaching P161.9 billion.
URC attributed its flat bottom line to higher foreign exchange gains in 2023, which inflated the previous year’s earnings. The branded consumer foods group recorded P109.5 billion in sales, up 2%, as higher volumes helped offset macroeconomic challenges. Meanwhile, the company’s international segment saw 8% growth, generating P34.8 billion in revenue. The agro-industrial and commodities group also ended the year with P51.3 billion in sales, reflecting a 5% increase driven by higher volumes across most segments.
Despite economic challenges, URC maintained steady revenue growth across its key business units. The company continues to expand its market presence, focusing on driving sales volumes and navigating macroeconomic pressures. With its diversified portfolio and strong international performance, URC remains resilient amid fluctuating market conditions.
URC’s 2024 Earnings Dip 2% Despite Revenue Growth
