Monde Nissin sees mid-single-digit growth in branded food’s 2025 topline

Listed snack food maker Monde Nissin Corp. on Wednesday said it is looking to grow the topline of its Asia Pacific (APAC) branded food and beverage (BFB) business by mid-single-digit in 2025, after posting a 4.1% growth in the first three months of the year.

Based on briefing materials the company filed with the local bourse, Monde Nissin said its APAC BFB reported a 4.1% year-on-year increase in its net sales to P17.583 billion in the first quarter. The noodles business saw a 4.5% decline, which was offset by the 13.3% increase in business and 9.1% growth of its other units.

The APAC BFB — which includes the brands Lucky Me! SkyFlakes and Mama Sita’s, among others — saw its core net income decline by 3.7% to P2.982 billion, as the company reported higher commodity costs during the period.

The company expects the BFB margin for this year to be broadly in line with 2024, with trends varying quarter to quarter based on cost savings plans, commodity lock-ins, and base comparisons.

Monde Nissin said it also sees its meat alternative business, which covers the Quorn and Cauldron brands, to taper topline challenges this year, after reporting a 3.8% drop in revenues to P3.298 billion in the first quarter.

Consolidated core net income for the quarter increased by 1.5% to P2.924 billion from P2.880 billion, as revenue climbed 2.8% to P20.881 billion from P20.312 billion, while cost of goods sold rose by 3.7% to P13.594 billion from P13.115 billion. — VBL, GMA Integrated News