Amid a bankruptcy filing by its US operation, listed Del Monte Pacific Ltd. said its Philippine unit posted earnings before interest, tax, depreciation, and amortization (EBITDA) of P8.6 billion, up 40 percent from P6.14 billion for its fiscal year 2025, ending April 30.
Del Monte Pacific Philippines Inc. (DMPI) did not disclose its net income.
The company, in a disclosure, said that its EBITDA reflects “strong operational efficiency and market demand.”
Annual sales grew 14 percent to P44.2 billion, from P36.23 billion, attributed to a 22 percent increase in international sales at P19.5 billion, fueled by robust exports of fresh pineapples and packaged products.
Sales to the Philippines alone hit P21.4 billion, up 6 percent from P20.19 billion, attributed to “solid demand across key product categories, including beverages, packaged fruits and culinary essentials.”
Del Monte reported an increased market share in North Asia, accounting for 53 percent of the fresh pineapple market.
Luis Alejandro, DMPI president and chief operating officer (COO), said the growth reflects a “relentless focus on consumer engagement, innovation, and cost efficiency.”
Last week, Del Monte said that its unit Del Monte Foods Holdings Limited (DMFHL) is filing for chapter 11 bankruptcy in the US, which will result in the reorganization of the unit to address unpaid debts. This follows Del Monte’s decision in May to cede control of DMFHL and three other subsidiaries, including Del Monte Foods Inc. (DMFI), to settle a 2024 claim against DMFI.
The filing of Chapter 11 also followed the appointment of a new set of officers by DMFHL lenders.
Del Monte said the decision “protects the company’s interests and, importantly, will not disrupt the favorable business operations” of the local operation under DMPI.
On Monday, however, Del Monte said that the deconsolidation of DMFHL in its books will result in a still undetermined capital deficit.
