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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. 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 2022 PHPUSD
Revenue149,903.64M2,749.45M
Gross Profit38,300.29M702.48M
Operating income15,229.24M279.32M
Income before tax17,850.45M327.40M
Net income13,956.14M255.97M
EBITDA21,517.49M394.66M
Diluted EPS6.380.11
Dividends Per Share1.500.02
Total Assets170,142.82M3,053.12M
Total liabilities54,172.48M972.09M
Total equity115,345.69M2,069.81M
Operating cash flow8,131.14M149.13M
Currency in PHPCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 127,769.94M 134,174.52M 113,161.78M 116,954.78M 149,903.64M
Gross Profit 36,705.83M 39,392.38M 33,838.91M 32,699.11M 38,300.29M
Operating income 13,386.08M 15,015.95M 13,868.30M 12,583.64M 15,229.24M
Income before tax 11,544.88M 12,055.01M 12,539.30M 14,635.05M 17,850.45M
Net income 9,204.30M 9,772.12M 10,074.43M 12,043.10M 13,956.14M
EBITDA 19,752.57M 22,326.01M 20,025.50M 18,346.51M 21,517.49M
Diluted EPS 4.17 4.43 4.87 6.00 6.38
Dividends Per Share 3.15 3.15 1.50 3.45 1.50
Total Assets 151,935.71M 168,652.98M 176,221.31M 153,562.47M 170,142.82M
Total liabilities 67,942.23M 73,468.48M 78,437.15M 43,794.74M 54,172.48M
Total equity 83,791.22M 89,950.66M 92,258.90M 109,420.98M 115,345.69M
Operating cash flow 11,931.17M 12,875.98M 20,228.06M 12,952.08M 8,131.14M
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 2,425.26M 2,591.22M 2,281.46M 2,372.56M 2,749.45M
Gross Profit 696.73M 760.75M 682.22M 663.34M 702.48M
Operating income 254.08M 289.99M 279.60M 255.27M 279.32M
Income before tax 219.13M 232.81M 252.80M 296.88M 327.40M
Net income 174.71M 188.72M 203.11M 244.30M 255.97M
EBITDA 374.93M 431.16M 403.73M 372.18M 394.66M
Diluted EPS 0.07 0.08 0.09 0.12 0.11
Dividends Per Share 0.05 0.06 0.03 0.06 0.02
Total Assets 2,889.33M 3,330.10M 3,669.48M 3,011.47M 3,053.12M
Total liabilities 1,292.04M 1,450.65M 1,633.30M 858.84M 972.09M
Total equity 1,593.44M 1,776.10M 1,921.12M 2,145.82M 2,069.81M
Operating cash flow 226.47M 248.66M 407.81M 262.74M 149.13M

Valuation Measures

Dec 2022
PER21.29
ROA8.62%
ROE12.41%
Operating margin10.15%
Profit margin9.31%

Key executives

  • President, Chief Executive Officer & Director: Irwin C. Lee
  • Chief Financial Officer: Evelyn C. Ng
  • VP-Global Innovation, Research & Development: Krishna S. Mohan
  • Chief Information Officer: Karen Therese C. Salgado
  • Controller, Chief Compliance & Risk Officer: Rhodora T. Lao

Shareholders

  • JG Summit Holdings, Inc. (55.8%)
  • Universal Robina Corp. (2.1%)
  • First Sentier Investors (Hong Kong) Ltd. (1.6%)
  • First Sentier Investors (UK) IM Ltd. (1.4%)
  • The Vanguard Group, Inc. (1.2%)
  • T. Rowe Price Associates, Inc. (Investment Management) (0.7%)
  • BlackRock Fund Advisors (0.7%)
  • T. Rowe Price International Ltd. (0.7%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.6%)
  • Massachusetts Financial Services Co. (0.6%)

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

  • URC Central Co. Ltd.
  • URC (Myanmar) Co. Ltd.
  • Siam Pattanasin Co. Ltd.
  • URC Equity Ventures Pte Ltd.
  • Shantou Peggy Co. Ltd.
  • Shantou SEZ Shanfu Foods Co. Ltd.
  • Guangzhou Peggy Foods Co. Ltd.
  • Xiamen Tongan Pacific Food Co., Ltd.
  • Universal Robina (Cayman) Ltd.
  • URC Hanoi Co., Ltd.
  • Crunchy Foods Sdn. Bhd.
  • URC China Commercial Co. Ltd.
  • Jiangsu Acesfood Industrial Co. Ltd.
  • URC Beverage Ventures, Inc.
  • Advanson International Pte Ltd.
  • Bio-Resource Power Generation Corp.
  • URC Snack Ventures, Inc.
  • Najalin Agri-Ventures, Inc.
  • URC International Co. Ltd.
  • CFC Clubhouse Property, Inc.
  • MunchWorld Marketing Sdn. Bhd.
  • Nissin-Universal Robina Corp.
  • Munchy Food Industries Sdn. Bhd.
  • 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.

Competitors

  • San Miguel Corp.
  • Monde Nissin Corp.
  • Aboitiz Equity Ventures Inc.
  • Nestle S.A.
  • PT Mayora Indah Tbk
  • Mondelez International, Inc. Class A
  • PepsiCo, Inc.
  • San Miguel Food & Beverage, Inc.
  • Top Frontier Investment Holdings, Inc.
  • LT Group, Inc.
  • Liberty Flour Mills Inc.
  • Roxas Holdings Inc.
Last Updated on 2 Jun, 2023

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