D&L Industries nets P681M in Q1, up 10%

Chemicals and food ingredients maker D&L Industries Inc. saw its bottom line grow by 10% in the first quarter of 2025 on the back of its growing exports business.

In a disclosure to the Philippine Stock Exchange on Wednesday, D&L reported a net income of P681 million in the January – March period, up 10% from P618 million seen in the same period last year.

The company said its exports business contributed 34% to its total sales of P14.268 billion in the first quarter.

Exports booked P4.8 billion in sales, up 69% from P2.9 billion year-on-year.

D&L’s domestic business, meanwhile, posted P9.4 billion in sales, up 58% from P6 billion a year ago.

“The year started with strong momentum. However, the increasing global uncertainties have led to a noticeable slowdown and dampening of global business sentiment,” said D&L CEO Alvin Lao, noting the reciprocal tariff policy of US President Donald Trump.

“Nonetheless, the Philippines may be one of the least affected countries given its import-heavy trade balance. In addition, the lower proposed reciprocal tariff for the Philippines versus its neighboring countries may put the Philippines in an advantageous position,” said Lao.

The D&L chief said the company exports to many countries, and “the US is not a large market for us.”

“Our exports to the US are equivalent to roughly 3% of our total revenues,” said Lao.

Last month, Trump announced sweeping reciprocal tariffs on its trading partners, including the Philippines, which would be facing a 17% tariff on its imports to the US.

Trump eventually put his new tariff strategy on hold for 90 days, with the exception of China, amid criticism and worries.

Philippine officials had traveled to Washington, D.C. to negotiate the tariff rate to be slapped on Philippine goods. — VBL, GMA Integrated News