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Consumer Non-Durables

Universal Robina Corp.

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. is engaged in the manufacture and distribution of consumer food products. It operates through the following segments: Branded Consumer Foods, Agro-Industrial Products, Commodity Food Products, and Corporate Business. The Branded Consumer Foods 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 an 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 as well as manufactures pasta. Its products include savory snacks, biscuits, cakes, candies, chocolates, ready-to-drink tea and coffee; juices, bottled water, energy drinks, pure and blended coffee; creamer, instant coffee and chocolate mixes; pouch and cup noodles; canned beans, sauces and tomato paste. The Corporate Business segment engages in 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 2019 PHPUSD
Revenue134,174.52M2,591.22M
Gross Profit39,392.38M760.75M
Operating income15,015.95M289.99M
Income before tax12,055.01M232.81M
Net income9,772.12M188.72M
EBITDA22,326.01M431.16M
Diluted EPS4.430.08
Dividends Per Share3.150.06
Total Assets169,296.04M3,342.79M
Total liabilities74,111.53M1,463.35M
Total equity89,950.66M1,776.10M
Operating cash flow12,875.98M248.66M
Currency in PHPCurrency in USD

Historical Data

 Sep 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 109,051.02M 123,760.95M 125,007.82M 127,769.94M 134,174.52M
Gross Profit 34,918.45M 38,591.88M 38,673.39M 36,705.83M 39,392.38M
Operating income 17,229.38M 16,344.48M 14,941.63M 13,386.08M 15,015.95M
Income before tax 15,962.95M 12,868.45M 13,950.40M 11,544.88M 12,055.01M
Net income 12,383.34M 9,608.46M 10,888.08M 9,204.30M 9,772.12M
EBITDA 21,939.35M 22,368.50M 21,042.04M 19,752.57M 22,326.01M
Diluted EPS 5.68 4.36 4.94 4.17 4.43
Dividends Per Share 3.15 3.15 3.15 3.15 3.15
Total Assets 110,990.66M 143,059.91M 148,213.07M 151,935.71M 169,296.04M
Total liabilities 45,631.03M 64,210.66M 66,527.06M 67,942.23M 74,111.53M
Total equity 65,264.93M 78,833.78M 81,403.17M 83,791.22M 89,950.66M
Operating cash flow 23,793.13M 5,805.91M 15,662.68M 11,931.17M 12,875.98M
 Sep 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,422.85M 2,606.17M 2,479.59M 2,425.26M 2,591.22M
Gross Profit 775.80M 812.67M 767.10M 696.73M 760.75M
Operating income 382.79M 344.18M 296.37M 254.08M 289.99M
Income before tax 354.65M 270.98M 276.71M 219.13M 232.81M
Net income 275.12M 202.33M 215.97M 174.71M 188.72M
EBITDA 487.44M 471.03M 417.37M 374.93M 431.16M
Diluted EPS 0.12 0.09 0.09 0.07 0.08
Dividends Per Share 0.06 0.06 0.06 0.05 0.06
Total Assets 2,374.63M 2,877.74M 2,969.01M 2,889.33M 3,342.79M
Total liabilities 976.27M 1,291.64M 1,332.67M 1,292.04M 1,463.35M
Total equity 1,396.34M 1,585.79M 1,630.67M 1,593.44M 1,776.10M
Operating cash flow 528.62M 122.26M 310.67M 226.47M 248.66M

Valuation Measures

Dec 2019
PER32.70
ROA6.08%
ROE11.24%
Operating margin11.19%
Profit margin7.28%

Key executives

  • President, Chief Executive Officer & Director: Irwin C. Lee
  • Chief Financial Officer & Senior Vice President: Francisco M. del Mundo
  • Compliance Officer: Arlene Sta. Rosa-Denzon
  • Director & Executive Vice President: Patrick C. Go
  • Senior VP & Investor Relations Officer: Michael P. Liwanag

Shareholders

  • JG Summit Holdings, Inc. (55.2%)
  • T. Rowe Price International Ltd. (1.8%)
  • First State Investments (Hong Kong) Ltd. (1.5%)
  • The Vanguard Group, Inc. (1.3%)
  • First State Investment Management (UK) Ltd. (0.8%)
  • BlackRock Fund Advisors (0.7%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.5%)
  • APG Asset Management NV (0.4%)
  • LGM Investments Ltd. (0.4%)
  • T. Rowe Price Hong Kong Ltd. (0.4%)

Contact Details

  • Website:http://www2.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.
  • Griffin's Foods Ltd.
  • Joyco Universal Robina Corp

Competitors

  • San Miguel Food & Beverage, Inc.
  • San Miguel Corp.
  • Del Monte Pacific Limited
  • Aboitiz Equity Ventures Inc.
  • Nestle S.A.
  • Lotte Corp
  • PepsiCo, Inc.
  • Kraft Heinz Company
  • PT Mayora Indah Tbk
  • Mondelez International, Inc. Class A
  • Apollo Food Holdings Bhd.
  • Novartis AG
  • Procter & Gamble Company
  • Top Frontier Investment Holdings, Inc.
  • Pepsi Cola Products Philippines, Inc.
  • Roxas Holdings Inc.
  • Vitarich Corp.
Last Updated on 6 Jul, 2020

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