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Consumer Non-Durables

Universal Robina Corp.

In the news

Company Background

Founded by Filipino-Chinese John Gokongwei in 1954 as a cornstarch factory, Universal Robina is now a leading snack and beverage producer in the Philippines. It is also one of the Filipino companies that have successfully expanded their footprint abroad. The company has full-scale operations in Thailand, Singapore, Malaysia, Vietnam, Indonesia, China and Hong Kong. It also plans to start operations in Myanmar by the end of 2014.

In the Philippines, Universal Robina enjoys the No. 1 market share in the snacks, candies, chocolates, canned beans and ready-to-drink tea segments and the No. 2 position in cup noodles and instant coffee sectors.

The company is continuously expanding its product portfolio. In 2014 alone, the company struck at least three deals as part of this effort.

In March, it teamed up with Calbee for the local production and sale of the Japanese snack marker's products in the Philippines. In July, Universal Robina took over New Zealand's NZ Snack Food Holdings for 700 million New Zealand dollars ($550 million), marking its first expansion outside Southeast Asia and China. In October, the company announced a joint venture with Danone Asia Holdings in a bid to expand its beverage portfolio.

The company is looking at establishing production plants in Laos and Cambodia to complete its presence in Southeast Asia.

Business Summary

Universal Robina Corp. engages in the manufacture and distribution of consumer food products. It operates through the following segments: Branded Consumer Food Products, Agro-Industrial Products, Commodity Food Products, and Corporate Business. The Branded Consumer Food Products segment manufactures and distributes salty snacks, chocolates, candies, biscuits, bakery products, beverages, instant noodles, pasta and tomato-based products. The Agro-Industrial Products segment produces and distributes animal health products, animal feeds, glucose, and soya bean products; and operates hog and poultry farm. The Commodity Food Products segment refines sugar and flour; manufactures pasta; and develops renewable energy. The Corporate Business segment includes the bonds and securities investment and fund sourcing activities. The company was founded by John L. Gokongwei Jr. on September 28, 1954 and is headquartered in Quezon City, Philippines.

Financial Highlights

Dec 2020 PHPUSD
Revenue133,140.08M2,684.24M
Gross Profit40,177.81M810.02M
Operating income16,019.01M322.96M
Income before tax13,786.67M277.95M
Net income10,746.72M216.66M
EBITDA23,383.97M471.44M
Diluted EPS4.870.09
Dividends Per Share1.500.03
Total Assets176,194.93M3,668.93M
Total liabilities78,410.76M1,632.75M
Total equity92,258.90M1,921.12M
Operating cash flow20,258.82M408.43M
Currency in PHPCurrency in USD

Historical Data

PHP | USD
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 123,760.95M 125,007.82M 127,769.94M 134,174.52M 133,140.08M
Gross Profit 38,591.88M 38,673.39M 36,705.83M 39,392.38M 40,177.81M
Operating income 16,344.48M 14,941.63M 13,386.08M 15,015.95M 16,019.01M
Income before tax 12,868.45M 13,950.40M 11,544.88M 12,055.01M 13,786.67M
Net income 9,608.46M 10,888.08M 9,204.30M 9,772.12M 10,746.72M
EBITDA 22,368.50M 21,042.04M 19,752.57M 22,326.01M 23,383.97M
Diluted EPS 4.36 4.94 4.17 4.43 4.87
Dividends Per Share 3.15 3.15 3.15 3.15 1.50
Total Assets 143,059.91M 148,213.07M 151,935.71M 168,652.98M 176,194.93M
Total liabilities 64,210.66M 66,527.06M 67,942.23M 73,468.48M 78,410.76M
Total equity 78,833.78M 81,403.17M 83,791.22M 89,950.66M 92,258.90M
Operating cash flow 5,805.91M 15,662.68M 11,931.17M 12,875.98M 20,258.82M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,606.17M 2,479.59M 2,425.26M 2,591.22M 2,684.24M
Gross Profit 812.67M 767.10M 696.73M 760.75M 810.02M
Operating income 344.18M 296.37M 254.08M 289.99M 322.96M
Income before tax 270.98M 276.71M 219.13M 232.81M 277.95M
Net income 202.33M 215.97M 174.71M 188.72M 216.66M
EBITDA 471.03M 417.37M 374.93M 431.16M 471.44M
Diluted EPS 0.09 0.09 0.07 0.08 0.09
Dividends Per Share 0.06 0.06 0.05 0.06 0.03
Total Assets 2,877.74M 2,969.01M 2,889.33M 3,330.10M 3,668.93M
Total liabilities 1,291.64M 1,332.67M 1,292.04M 1,450.65M 1,632.75M
Total equity 1,585.79M 1,630.67M 1,593.44M 1,776.10M 1,921.12M
Operating cash flow 122.26M 310.67M 226.47M 248.66M 408.43M

Valuation Measures

Dec 2020
PER31.27
ROA6.23%
ROE11.79%
Operating margin12.03%
Profit margin8.07%

Key executives

  • President, Chief Executive Officer & Director: Irwin C. Lee
  • Chief Financial Officer & Senior Vice President: Francisco M. del Mundo
  • SVP-Quality, Engineering & Technical Services: David J. Lim
  • VP-Global Innovation, Research & Development: Krishna S. Mohan
  • Chief Information Officer: Karen Therese C. Salgado

Shareholders

  • JG Summit Holdings, Inc. (55.2%)
  • First Sentier Investors (Hong Kong) Ltd. (1.8%)
  • T. Rowe Price International Ltd. (1.3%)
  • The Vanguard Group, Inc. (1.2%)
  • BlackRock Fund Advisors (0.8%)
  • T. Rowe Price Hong Kong Ltd. (0.6%)
  • Massachusetts Financial Services Co. (0.5%)
  • First Sentier Investors (Singapore) (0.4%)
  • T. Rowe Price Associates, Inc. (Investment Management) (0.4%)
  • APG Asset Management NV (0.3%)

Contact Details

  • Website:http://www.urc.com.ph
  • Address: 8th Floor, Tera Tower, Bridgetowne, E. Rodriguez Jr. Avenue, Quezon City, 1100, Philippines
  • Phone: +63.2.516.9888

Related Companies

  • Hunt Universal Robina Corp.
  • Advanson International Pte Ltd.
  • Bio-Resource Power Generation Corp.
  • Calbee-URC, Inc.
  • URC International Co., Ltd.
  • CFC Clubhouse Property, Inc.
  • Nissin-Universal Robina Corp.
  • Robina Farms 11
  • Universal Robina Sugar Milling Corp.
  • General Milling Corp. /Snack Manufacturing Business/
  • Passi (Iloilo) Sugar Central, Inc. /Manufacturing Assets/
  • Nestle Waters Philippines, Inc. /Bottled Water Business/
  • URC Philippines Ltd.
  • CFC Corp.
  • Joyco Universal Robina Corp

Competitors

  • San Miguel Food & Beverage, Inc.
  • San Miguel Corp.
  • Aboitiz Equity Ventures Inc.
  • Pepsi Cola Products Philippines, Inc.
  • Nestle S.A.
  • PT Mayora Indah Tbk
  • PepsiCo, Inc.
  • Unilever PLC
  • Mondelez International, Inc. Class A
  • Del Monte Pacific Limited
  • Coca-Cola Company
  • LT Group, Inc.
  • Macay Holdings, Inc.
  • Colgate-Palmolive Company
  • Reckitt Benckiser Group plc
  • Beiersdorf AG
  • Johnson & Johnson
  • Kimberly-Clark Corporation
  • L'Oreal SA
  • Procter & Gamble Company
  • Monde Nissin Corp.
  • Top Frontier Investment Holdings, Inc.
  • Liberty Flour Mills Inc.
  • Roxas Holdings Inc.

Copyright © 2021 FactSet Research Systems Inc. All rights reserved.

Last Updated on 18 Oct, 2021

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