Wilcon Depot Inc., the leading home improvement and construction supplies retailer in the Philippines, reported a 2025 net income of P2.44 billion, down 3.3 percent from the previous year due to rising operating expenses.
Net sales for the year rose 3.6 percent to P35.44 billion, supported by contributions from new stores opened during the period. The company ended with 104 operating stores after opening six new depots and closing two smaller format DIW stores.
Operating expenses, which include lease-related interest, grew 3.7 percent to P10.854 billion. The company attributed the increase to higher depreciation and amortization, manpower costs and repairs and maintenance.
Performance strengthened toward the end of the year, with fourth-quarter net income jumping 41.3 percent to P580 million. Quarterly net sales reached P9.1 billion, a 7.3 percent increase over the same period in 2024.
Wilcon Depot president and chief executive Lorraine Belo-Cincochan said the company achieved positive same-store sales growth in the final quarter, leading to a 26 percent increase in second-half net income.
“We recalibrated some functional strategies, such as in-store organizational structure and processes, product marketing plans, store layouts, among others, which were aimed at reversing performance downturns,” Belo-Cincochan said.
The company’s primary depot format generated P34.136 billion in sales, representing 96.3 percent of total revenue. Smaller formats contributed P1.12 billion, or 3.2 percent of total net sales.
The board of directors approved a cash dividend of P0.40 per share, totaling P1.64 billion. Wilcon Depot plans to open 8 new stores in 2026 and has already launched 3 locations during the first quarter.
