Monde Nissin 1st Half 2023 profit down 18% as sales slowed
Monde Nissin slowed due declining category growth
Monde Nissin Corp., a renowned food and beverage company, has recently released its financial report for the first semester of 2023. Unfortunately, the report indicated lower earnings due to the macro trend in various food and beverage categories that are experiencing modest consumption at present.
However, Monde Nissin flagship Asia Pacific branded food and beverage segment, including Lucky Me! instant noodles and SkyFlakes crackers, has shown some moderate revenue growth, giving enough reason for the company to keep pushing forward with confidence.
Even though all categories’ volume growth has decelerated, it’s commendable that Monde Nissin has managed to maintain its adaptability to the shifting market conditions while remaining vigilant in its analysis of the market trends.
Henry Soesanto, the CEO of Monde Nissin, believes that the company can weather the current challenges and continue to provide unparalleled food products to its customers. Overall, despite the challenging times, Monde Nissin remains optimistic and committed to catering to its customers’ ever-evolving needs.
Meat Alternatives as Sustainable Category for Monde Nissin
Monde Nissin, a company known for its impressive sales growth, has managed to exceed expectations once again with a staggering 3.2 percent increase in Q2, followed by another 7 percent in the first half of the year. Although challenged by a drop of 3.7 percent and 5 percent in the Meat Alternatives division, Monde Nissin was quick to take proactive measures, successfully handling the situation and even announcing the substantial completion of their restructuring of the meat alternative business.
This bodes well for the company as previously guided savings are set to be delivered on time, despite a nearly 18 percent drop in net income to P3.5 billion in the first semester due to restructuring costs.
However, Monde Nissin EBITDA levels have shown improvement, giving the company confidence in its ability to continue this upward trend, albeit cautiously optimistic. Monde Nissin’s remarkable performance during the second quarter is a testament to their unrelenting drive towards achieving their targets.
FAQs:
Monde Nissin Corporation is a Philippine food and beverage company with a portfolio of brands across instant noodles, biscuits, baked goods, culinary aids and alternative meat products categories, including Lucky Me!, SkyFlakes, Fita, M.Y. San Grahams and Nissin
Monde Nissin is headquartered in Makati, 22 Ayala Ave, Philippines, and has 5 office locations.
| Country | City | Address |
|---|---|---|
| Philippines | Makati | 22 Ayala Ave HQ |
| New Zealand | Auckland | G1/5 Orbit Drive, Albany |
| Philippines | Santa Rosa | F. Reyes St, Santa Rosa |
| Singapore | Singapore | 30 Kallang Pl, #05-10 |
| Thailand | Bangkok | 22nd floor, unit 2202, m thai tower, all seasons place , 87 wireless road |
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Email: [email protected]
