Balai ni Fruitas Posts 25% Revenue Growth in 2024, Sustains Double-Digit Margin Performance

​Balai ni Fruitas Inc., listed on the Philippine Stock Exchange under the symbol “BALAI” a leading counter-service bakery operator in the Philippines, reported strong financial performance for the full year 2024. Revenues reached P668 million, a 25% increase from P535 million in 2023. The robust topline growth was driven by improved same-store sales and the strategic expansion of BALAI’s retail footprint. EBITDA increased by 24% to P134 million, while net income reached P68 million, which translates to a 10.2% net income margin, underscoring BALAI’s operational strength and disciplined cost management.

​Based on the latest available public disclosures, BALAI once again outperformed all other foodservice companies listed on the Philippine Stock Exchange (PSE) in 2024, leading the sector in both revenue growth and retaining its position as one of only two companies in the sector with double-digit net income margin — mirroring its leadership position in 2023.

2024 marked a milestone year for BALAI, defined by strategic expansion, brand growth, and operational achievements. In April 2024, the Group completed the acquisition of the 40-year-old Sugarhouse brand, along with key operational assets, strengthening BALAI’s portfolio by expanding into the premium cake category and enhancing production capacity. This acquisition not only broadens BALAI’s product offerings but also unlocks synergies across its existing brands Balai Pandesal, Buko Ni Fruitas, and House of Desserts.

In the second half of the year, BALAI further expanded product offering by securing an exclusive distributorship agreement with D’ Famous Red Box Corporation, granting it the sole rights to distribute the well-loved Polland Hopia brand in Cebu and Zamboanga. This strategic partnership enables BALAI to tap into two key regional markets with strong consumer demand for traditional Filipino delicacies, particularly hopia — a beloved snack across generations. The Polland Hopia brand will be featured in Balai Pandesal stores, creating synergies with BALAI's existing product offerings, such as breads and juices, which resonate deeply with Filipino consumers.

Gross profit rose to P345 million in 2024, representing a 26% increase from P273 million in full-year 2023. The company also improved its gross profit margin to 51.6%, up by 60 basis points from 51.0% in the previous year, despite facing elevated costs of raw materials and other direct expenses. This margin expansion was driven by a carefully calibrated pricing strategy — featuring modest, targeted price adjustments — and, more significantly, by a deliberate shift in product mix toward higher-margin offerings. BALAI recorded an EBITDA margin of 20.1% in 2024.