Monde Nissin Corp., a maker of instant noodles and biscuits, reported a 7.2 percent decline in core net income for shareholders in the first half of 2025, falling to P4.7 billion from P5.1 billion in the same period last year.
In the second quarter, core net income dropped by 18.5 percent to P1.8 billion, down from P2.2 billion ast year.
The company attributed the decline to lower gross profit margins in its Asia-Pacific Branded Food and Beverage segment and a foreign exchange loss in the second quarter.
Reported net income for the first half, however, rose 7.8 percent to P4.4 billion. For the second quarter, reported net income jumped 174.8 percent to P1.7 billion, compared to P611 million last year.
The company said this was driven by a significantly lower non-cash loss of P15 million on the fair value of the Meat Alternative guaranty asset, which was a P1.5 billion loss last year.
Sales from the Asia-Pacific branded food business grew 4.6 percent in the first half to 34.9 billion pesos and 5 percent in the second quarter, driven by volume growth in biscuits and culinary products.
The domestic business grew 5.3 percent for the first half, with second-quarter growth at 6.4 percent.
“Our APAC BFB business delivered modest topline growth in the second quarter, driven by volume growth in biscuits and culinary, and so far, this quarter, we have experienced good growth across all our APAC BFB domestic categories with July being the best month of the year so far,” said Henry Soesanto, Monde Nissin’s chief executive.
“While we have experienced pressure on our Q2 gross margin, we have implemented a range of pricing and cost-saving initiatives addressing this,” he added. “We expect gross margin will improve in the second half of the year compared to the first half; however, full-year gross margin is expected to be lower than last year, reflecting ongoing input cost pressures.”
