Universal Robina Corporation's FY23 Net Income was PHP 12.8 billion, Down 12%

In comparison to a high base year of 2022, Universal Robina Corporation's (URC) sales for the year ending December 31, 2023, were P158.4 billion, an increase of 6%. Growing sequentially over the previous quarter, the Branded Consumer Foods (BCF) and Agro-Industrial & Commodities (AIC) businesses maintained their pace into the fourth quarter.

Operating income reached P17.4 billion at the end of the year, up 14% from the previous year and more than twice as high as topline growth. Operating margins have reached 11% as a result of the company's sustained operational savings and targeted pricing actions. Due to higher comparables from the gain on the land sale last year, net income for the entire year finished at P12.8 billion, down 12% from the same time the previous year. Operating income growth drove the URC's 6% core net income gain to P12.6 billion; however, higher interest rates also had an impact.

With a robust P12.2 billion cash balance, P13.4 billion in net debt, and a gearing ratio of 0.23, URC's financial standing is still good.
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In the Philippines, Universal Robina Corporation (URC) is among the biggest producers of branded consumer food and beverage goods. The company is well-established and is continuing to expand throughout ASEAN. In the industry, it is one of the pioneers from the Philippines. Mr. John Gokongwei, Jr., founded Universal Corn Products Inc., a cornstarch manufacturing facility in Pasig City, in 1954, and it has been in operation for more than 50 years.
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URC is involved in a variety of food-related industries, such as the manufacturing and sale of consumer snack foods and beverages under brand names, the manufacture of commodities like wheat and sugar, and agro-industrial activities centered around hogs, animal feed, and other related goods.

​Mr. John had a vision of URC emerging as a leading company in the food and beverage industry with a dominant market position in the ASEAN area. Through our URC Thailand office, URC products are also exported to various markets, including the US, Europe, Japan, Korea, the Middle East, and West African nations like Ghana and Nigeria.

Over the years, URC has developed three powerful regional brands: Great Taste for coffee, C2 Cool and Clean for ready-to-drink tea, and Jack 'n Jill for snack goods. The ASEAN region is starting to recognize these brands.

World-class manufacturing and supply chain skills, a solid pipeline for new product innovation, and well-established brands have all been cited as URC's keys to success.