Monde Nissin's Q4 2025 marks a turn: Compression to recovery

From AB Capital's The Opening Bell: Three Moves

Event

4Q25 earnings inflection: Core net income +8.1% YoY to P2.5 billion on improving gross profit, signaling early margin recovery after a weak FY25.

View

FY25 still a transition year: Core earnings -0.8% YoY to P9.7 billion as edible oil costs drove 230bps gross margin compression to 34.8%.

Catalyst

APAC steady, Quorn stabilizing: Core BFB delivered ~5% growth, while Meat Alternatives showed improving margins (+417bps YoY) and EBITDA recovery.

Action

Dividend supports downside: P0.24/share payout highlights strong cash flow and balance sheet, anchoring yield while recovery plays out.

Disclaimer: The information, analyses, and views contained herein is based on sources which we, AB Capital Securities, believe are reliable, but is not guaranteed by us and is not to be considered all inclusive. It is not to be construed as an offer or solicitation of an offer to sell or buy the securities herein mentioned. AB Capital Securities and its Directors and Officers and/or members of their families may have a position in the securities herein mentioned and may make purchases and/or sales of the securities from time to time in the open-market and otherwise.