FY2020 Highlights

  • DMPL Group generated sales of US$2.1bn in FY2020, up 9% from prior year on higher sales across all geographies - USA, Philippines, Asia and Europe
  • Del Monte Foods (DMFI) USA accounted for US$1.5bn or 72% of total sales
  • The Philippine business generated sales of US$338.9m, up 7% in peso terms
  • The S&W business in Asia achieved sales of US$109.8m, up 9%
  • Without one-off items, the Group generated:
    • EBITDA of US$225.7m, up 45%
    • Net profit of US$32.2m, up 104%
    • Strong results due to higher volume and better pricing  
  • Including one-off items, the Group generated:
    • EBITDA of US$142.2m, down 1%
    • Net loss of US$81.4m from a net profit of US$20.3m in prior year
    • Net one-off expense of US$113.6m mainly due to four plant closures/sale in USA and dividend tax
  • Del Monte Philippines, Inc (DMPI), the Group’s most profitable business where it is a dominant market leader, generated a net income of US$67.7m, up 39%
  • DMFI successfully completed refinancing, raising US$1.3bn
    • The Group completed the private placement of a 12% stake in DMPI for US$120m for an implied valuation of US$1bn for DMPI
    • Special dividend of US$0.0154 as the aforementioned DMPI transaction generated a net gain of US$77.0m for DMPL which was booked in retained earnings
    • DMPL’s Independent Director Dr Emil Q Javier was declared a National Scientist by the President of the Philippines
    • Received Best Annual Report (Gold) Award from the Singapore Corporate Awards 2019
    • Three of our US products were voted 2020 Product of the Year in different categories: Veggieful Veggie Bowls in convenience meals, Fruit Crunch Parfait in snack cups and Contadina Pizzettas in frozen snack
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