Universal Robina Corp.

In the news

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Philippine tax reform will add to Duterte's infrastructure war chest Dec 21, 2017

See more articles on 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	PHP	USD
Revenue	134,174.52M	2,591.22M
Gross Profit	39,392.38M	760.75M
Operating income	15,015.95M	289.99M
Income before tax	12,055.01M	232.81M
Net income	9,772.12M	188.72M
EBITDA	22,326.01M	431.16M
Diluted EPS	4.43	0.08
Dividends Per Share	3.15	0.06
Total Assets	169,296.04M	3,342.79M
Total liabilities	74,111.53M	1,463.35M
Total equity	89,950.66M	1,776.10M
Operating cash flow	12,875.98M	248.66M
	Currency in PHP	Currency in USD

Historical Data

PHP | USD

	Sep 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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
PER	32.70
ROA	6.08%
ROE	11.24%
Operating margin	11.19%
Profit margin	7.28%

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

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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