Monde Earns P3B

Monde Nissin Corporation (MONDE) announced today its unaudited financial results for the first nine months ended September 30, 2021.

Photo Insert: A perspective of the Monde Nissin Cebu Plant

Consolidated revenue recorded its strongest growth for the year in Q3 at 4.1% growth, bringing 9M 2021 growth at 2.2%. Despite the 4.0% recovery to 39.4% in gross margin from Q2 to Q3,

Core EBITDA for Q3 declined 9.2% year-on-year to Php 4.1bn, primarily driven by higher commodity prices together with increased advertising and promotion spent for brand building. For the third quarter, core net income attributable to shareholders increased 8.7% year-on-year to Php 2.9bn, aided by a lower tax rate and interest rates.

The first nine months' core net income declined 5.3% versus a year ago to Php 7.1 bn. Reported net income for Q3 increased by 1.2% to Php 2.8bn compared with the same period last year.

Reported net income year-to-date was Php 3.0bn, a decline of 63.9% compared to a year ago primarily due to one-off items related to the Arran convertible note and the IPO.

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