Fruitas Holdings, Inc. Reported P95 Million Consolidated Net Income in 9M24, Up 35%

Fruitas Holdings, Inc. (FRUIT), the leading operator of multi-format food and beverage retail stores, listed on the Philippine Stock Exchange under the symbol FRUIT, achieved a record-breaking P2.121 billion in sales for the first nine months of 2024, representing a 19% increase from P1.789 billion in the same period in 2023.

The Company also delivered a remarkable 35% growth in consolidated net income, which surged to P95 million, up from P70 million in 9M2023 —an increase of P25 million. As a result of these strong financial results, net profit margin expanded by 60 basis points, rising from 3.9% in 9M2023 to 4.5% in 9M2024, reflecting improved operational efficiency and robust financial performance.

FRUIT posted impressive growth in gross profit for the first nine months of 2024, reaching P1.273 billion — an increase of 21% compared to P1.054 billion during the same period in 2023. Gross margin expanded significantly by 1.1 percentage points, reflecting the Company’s resilience and ability to adapt to the dynamic market environment. EBITDA for 9M2024 also showed strong growth, reaching P305 million, up 19% from P259 million in 9M2023. The EBITDA margin slightly improved to 14.4%, surpassing the 14.3% margin achieved in the same period last year by 10 basis points.
 
The Company’s pre-tax income grew by P132 million as of September 30, 2024, up by 32% from the P100 million pre-tax income in the same period in 2023.
 
FRUIT has solidified its position as a key player in the food and beverage industry through its diversified, multi-format store network operating across the Philippines. As of September 30, 2024, the company reported a total of 851 stores nationwide. This includes 732 kiosks/carts/in[1]line stores, 105 community stores, and 14 cloud kitchens & restaurants, highlighting the company's broad reach and adaptability to various market segments.

FRUIT's same-store sales growth (SSSG) surged by 10.7%, or P135 million, year-over-year (YoY), driven primarily by its Fruitas brand, which includes a popular range of fruit-based juices, shakes, and other offerings. In addition, Ling Nam, the company’s flagship brand in the dining sector, and Balai Pandesal, a leading brand in the pastry segment, were pivotal in driving the strong revenue performance. Notably, Ling Nam Food Inc. (LFI), a subsidiary of FRUIT, experienced remarkable expansion, increasing its number of locations by 114%, to 45 current locations from 21 in the same period of 2023.

“Our performance over the past nine months has been outstanding, both in terms of revenue growth and operational efficiency. This success is a direct result of our unwavering commitment to enhancing our product offerings and delivering the highest-quality world-class “Made by Filipinos” products to our valued consumers. As we enter the final quarter of 2024, the Fruitas team is excited to further expand our presence nationwide, making our wide range of Fruitas products even more accessible to our customers,” remarked Mr. Lester C. Yu, FRUIT President and Chief Executive Officer.

​Fruitas Holdings Inc., listed on the Philippine Stock Exchange under the symbol FRUIT, is the leading operator of multi[1]format food and beverage retail stores in the Philippines. From a single Fruitas stall opened in 2002, the group now operates over 25 brands in its portfolio, which includes well-loved food concepts Fruitas Fresh from Babot’s Farm, Buko Loco, Buko ni Fruitas, De Original Jamaican Pattie, Johnn Lemon, Black Pearl, and Sabroso Lechon, among others. It also operates a chain of community stores under the Balai Pandesal, Babot’s Farm, and Soy & Bean community stores. It also acquired the legacy brand Ling Nam, which serves classic Cantonese-style dishes such as beef wanton noodles, congee and dimsum products. It also operates a cloud kitchen business, mainly under Fly Kitchen. It has recently acquired Sugarhouse brand, which offers delectable baked goods and pastries since 1983.