Wilcon Income Hits ₱2.4-B; Dividends Raised

Wilcon Depot, Inc., the Philippines’ leading home improvement and finishing construction supplies retailer, reported that its fourth-quarter net income reached ₱580 million, up 41.3% or ₱169 million year-on-year, driven by net sales of ₱9.107 billion.

Wilcon will continue expanding in 2026, with eight new stores planned. (Photo: Wilcon)

For the full year, net income totaled ₱2.446 billion, reflecting a slight year-on-year decline of 3.3% or ₱83 million.

Total net sales for the year reached ₱35.444 billion.

“We are happy to announce that we were able to maintain positive same-store sales growth in the fourth quarter, which resulted in a second-half net income increase of 26.0%,” said Lorraine Belo-Cincochan, President and CEO of Wilcon Depot.

“We recalibrated several functional strategies, including in-store organizational structure and processes, product marketing plans, and store layouts, aimed at reversing performance downturns,” she added.

Belo-Cincochan also said Wilcon will continue expanding in 2026, with eight new stores planned. The company has already opened three new stores this year.

Following its earnings performance, Wilcon declared cash dividends of ₱0.40 per share, totaling ₱1.64 billion, representing an 11.1% increase from the previous year’s ₱0.36 per share.

Fourth-quarter net sales rose 7.3% or ₱616 million year-on-year, driven primarily by comparable sales growth of 3.8%, with the remainder coming from new stores. Two new stores in North Luzon were opened during the quarter.

The same-store sales growth was largely due to a 3.5% increase in ticket size and a modest 0.3% rise in transaction count.

By format, depot sales reached ₱8.766 billion, up 7.2% or ₱586 million from the fourth quarter of 2024, driven by same-store sales growth and new store contributions. Depots accounted for 96.3% of total net sales.

Sales from DIW stores, which made up 3.2% of total net sales, reached ₱294 million, up 13.8% or ₱36 million year-on-year.

Growth was driven by a 5.6% same-store sales increase despite the closure of two underperforming branches, along with contributions from a new DIW store opened in March 2025.

Project sales accounted for the remaining 0.5% of total net sales at ₱48 million, down 11.0% or ₱6 million year-on-year.

Gross profit rose to ₱3.6 billion, up 11.9% or ₱384 million year-on-year, supported by higher sales and improved margins from higher-margin products. In-house and exclusive brands contributed 52% of total sales for the quarter.

Operating expenses, including lease-related interest, increased by 3.3% or ₱93 million year-on-year to ₱2.914 billion.

The increase was mainly due to higher depreciation and amortization, repairs and maintenance, trucking, and outsourced services, partially offset by lower spending on supplies, salaries, taxes, and licenses.

Net other income totaled ₱82 million, down 44.3% or ₱65 million from the same period in 2024, mainly due to lower income from suppliers and other fees, partly offset by reduced losses from calamities.

Net income for the quarter reached ₱580 million, up 41.3% or ₱169 million year-on-year.