Monde Nissin Corp. · PSE:MONDE
Monde Nissin — 9M 2026 Earnings Presentation
32 slides from Monde Nissin's earnings presentation, Nov 4, 2026
Slide 1: 9M 2026 Earnings Presentation
9M 2026 Earnings Presentation November 4, 2026
Slide 2: First Nine Months 2026 Business Performance
First Nine Months 2026 Business Performance 2
Slide 3: Key Takeaways
Key Takeaways 1 2 3 Consolidated APAC BFB Protein Record first nine Growth driven by Continuing positive trajectory driven by months core net Biscuits and Strategic Growth growth in the UK income attributable to categories shareholders Year - on- year gross margin progression, and record operating P
Slide 4: APAC BFB: The brands Filipino households choose
APAC BFB: The brands Filipino households choose #1 Most Chosen Total FMCG & #1 Most Chosen Food Brand #9 and #16 Most Bought in 900 million occasions Chosen Food Brands in the past 12 months as of May 2026 For 11 consecutive years, Lucky Me! has remained a trusted SkyFlakes creates more consumption
Slide 5: APAC BFB: Noodles volume share gained +90 bps year-on-year
APAC BFB: Noodles volume share gained +90 bps year-on-year versus +50 bps year-on-year in 2Q26; value share softness in dry pouch and cups offset gains in wet pouch 3Q26 Performance & Drivers #1 Value Market Share Volume Market Share 68.0% 73.5% 74.4% 68.1% 3Q25 3Q26 3Q25 3Q26 Value Market Share by
Slide 6: APAC BFB: Biscuits growth in sandwich offset by decline in crackers
APAC BFB: Biscuits growth in sandwich offset by decline in crackers 3Q26 Performance & Drivers #2 28.6% 28.5% 3Q25 3Q26 6 Source: Nielsen Retail Audit (past 12 weeks as of September 2026)
Slide 7: APAC BFB: Oyster sauce continues to grow; yogurt drinks, cultured milk, packaged cakes challenged
APAC BFB: Oyster sauce continues to grow due to increased in-home cooking; yogurt drinks, cultured milk, and packaged cakes challenged Oyster Sauce Packaged Cakes Others #1 #3 60.2% 64.6% 10.9% 10.2% 3Q25 3Q26 3Q25 3Q26 Yogurt Drinks Cultured Milk #1 #2 89.3% 85.6% 26.4% 26.2% 3Q25 3Q26 3Q25 3Q26 7
Slide 8: Protein: Growth with stronger UK performance from Quorn and Cauldron
Protein: Growth with stronger UK performance from both Quorn and Cauldron, with Protein Bites winning new shoppers into the category Protein business delivered +1.1% growth in Q3, with Quorn and Cauldron driving the UK meat - free category’s return to growth Both brands winning new shoppers, with Qu
Slide 9: First Nine Months 2026 Financial Performance
First Nine Months 2026 Financial Performance 9
Slide 10: Consolidated: Revenue grew 7.3% in the first nine months
Consolidated: Revenue grew 7.3% in the first nine months, with growth from both APAC BFB and Protein Net Sales Consolidated By Business as of 67,898 3Q26 & 9M26 63,263 23,603 +7.3% In PHP millions 21,806 Protein +8.2% 16% 3Q25 3Q26 9M25 9M26 APAC BFB Protein 56,759 53,284 +11.6% +6.5% +11.0% APAC BF
Slide 11: Consolidated: Record first nine months core net income attributable to shareholders
Consolidated: Record first nine months core net income attributable to shareholders driven by top line growth and gross profit improvement Gross Profit Core Net Income Reported Net Income Attributable to Shareholders 1 • Q3 gross margin growth year - on- year driven by APAC 35.1% 35.0% 33.3% BFB and
Slide 12: Consolidated: Declared cash dividend of PHP 0.26 per share
Consolidated: Declared cash dividend of PHP 0.26 per share, an increase of +8.3%, bringing total dividends returned to shareholders at PHP 11.9 billion in the year 2026 Operating Cash Flow Total Dividends in PHP bn & Dividends per Share in PHP In PHP mn Retained earnings available for dividend at PH
Slide 13: APAC BFB: Revenue growth from pricing and volume in Biscuits and Strategic Growth
APAC BFB: Revenue growth largely from pricing and volume increase in Biscuits and Strategic Growth categories Net Sales Strategic By Business as of 3Q26 & 9M26 APAC BFB Noodles Biscuits Growth 2 Others 3 Q3: 3% Q3 Year - on- Year +7.7% +1.4% +11.5% +9.2% 9M: 2% 2 Noodles Net Price 1 +5.7% +7.5% +5.2
Slide 14: APAC BFB: Wheat and palm oil partially secured; coconut oil normalizing
APAC BFB: Wheat and palm oil partially secured through 1Q27 and 2Q27, respectively; coconut oil continues to normalize, down 22% from its peak Wheat (14% of 9M APAC BFB COGS) Coconut Oil & Coconut Oil - Related External (Bloomberg) Internal (MONDE) Percent Locked In: Input Costs (6% of 9M APAC BFB C
Slide 15: APAC BFB: Core net income increased +13.7% in Q3
APAC BFB: Core net income increased +13.7% in Q3 due to higher gross profit Gross Profit • 9M gross margin increased A&P to Sales +101 bps year - on- year; Q3 35.4% 35.8% gross margin improved +100 34.4% 34.8% bps year - on- year, mainly +1.0ppts +1.0ppts driven by pricing actions, cost management i
Slide 16: Protein: 9M26 core EBITDA more than doubled year-on-year
Protein: 9M26 core EBITDA more than doubled year-on-year, EBIT positive for third consecutive quarter, gross margin expanded +617 bps with positive sales growth Net Sales Gross Profit • Q3 sales grew year - on- year by 11.0% on a reported basis and 32.9% 31.6% +2.2% on a constant currency 11,139 26.
Slide 17: Consolidated: 2026 CapEx plan to focus on APAC BFB capacity and capability
Consolidated: 2026 CapEx plan to focus on building capacity and capability for APAC BFB In PHP mn 5,216 5,379 4,860 4,719 680 4,432 703 3,753 1,817 881 3,660 3,641 2,373 1,031 1,522 1,784 4,699 4,157 3,838 3,399 2,610 2,138 1,969 2,059 2019 2020 2021 2022 2023 2024 2025 2026E APAC BFB Protein Meat A
Slide 18: Appendix
Appendix 18
Slide 19: Key financial takeaways
Key financial takeaways 1 Consolidated revenue increased by 7.3% to Php 67.9 bn in 9M and by 8.2% to Php 23.6 bn in Q3. APAC BFB net sales for 9M grew by 6.5% to Php 56.8 bn, while Q3 net sales rose by 7.7% to Php 19.8 bn, driven largely by pricing and 2 volume growth in biscuits and the strategic g
Slide 20: Consolidated P&L Summary
Consolidated P&L Summary PHP mn Reported Reported 9M 2025 9M 2026 Q3 2025 Q3 2026 Change YoY Change YoY Revenue 63,263 67,898 +7.3% 21,806 23,603 +8.2% Cost of Goods Sold 42,227 44,050 +4.3% 14,566 15,344 +5.3% Gross Profit 21,036 23,848 +13.4% 7,240 8,259 +14.1% Core Operating Expenses 1 11,610 13,
Slide 21: Reported net income figures include one-off items
Reported net income figures include one-off items PHP mn Reported Reported 9M 2025 9M 2026 Q3 2025 Q3 2026 Change YoY Change YoY Core Net Income 7,197 8,295 +15.3% 2,460 2,836 +15.3% Other Income (Expenses) (454) (372) N/M (291) (541) N/M Fair Value Gain (Loss) on Guaranty (590) (512) N/M (285) (513
Slide 22: APAC BFB P&L Summary
APAC BFB P&L Summary PHP mn Reported Reported 9M 2025 9M 2026 Q3 2025 Q3 2026 Change YoY Change YoY Revenue 53,284 56,759 +6.5% 18,419 19,845 +7.7% Cost of Goods Sold 34,739 36,431 +4.9% 12,083 12,821 +6.1% Gross Profit 18,545 20,328 +9.6% 6,336 7,024 +10.9% Core Operating Expenses 1 9,040 10,029 +1
Slide 23: Protein P&L Summary
Protein P&L Summary PHP mn Reported Reported 9M 2025 9M 2026 Q3 2025 Q3 2026 Change YoY Change YoY Revenue 9,979 11,139 +11.6% 3,387 3,758 +11.0% Cost of Goods Sold 7,488 7,619 +1.8% 2,483 2,523 +1.6% Gross Profit 2,491 3,520 +41.3% 904 1,235 +36.6% Core Operating Expenses 1 2,570 3,201 +24.6% 819 1
Slide 24: Quorn Foods market share up +77 bps versus 3Q25
Quorn Foods market share up +77 bps versus 3Q25 driven by strong gains in Quorn chilled and frozen, with Cauldron share stabilizing through strong tofu performance UK Retail Meat Alternative Market 2 Total Market Share (%) 1 2 Total Market Growth 32.9 33.1 32.3 32.3 32.0 31.9 32.1 3.7% 31.9 31.4 31.
Slide 25: Cash Flow Summary
Cash Flow Summary PHP mn 9M 2025 9M 2026 Income before Income Tax 8,900 10,608 Depreciation & Amortization 2,079 2,190 Fair Value Loss (Gain) on Guaranty Asset 590 512 Finance Costs 331 276 Finance Income (320) (360) Impairment Loss 57 - Working Capital Adjustments (412) 161 Others (538) (68) Net Ca
Slide 26: Free Cash Flow & Working Capital
Free Cash Flow & Working Capital Free Cash Flow & Conversion Cycle Days Trade Receivables & Days Sales Outstanding PHP mn PHP mn 15D 19D 33D 32D 7,554 7,418 7,803 8,254 9M25 9M26 9M25 9M26 Inventory & Days Inventory Outstanding Accounts Payable 1 & Days Payables Outstanding PHP mn PHP mn 78D 59D 59D
Slide 27: Balance Sheet Summary
Balance Sheet Summary PHP mn Dec 31, 2025 Sep 30, 2026 PHP mn Dec 31, 2025 Sep 30, 2026 Cash and Cash Equivalents 15,398 16,216 Trade and Other Payables 13,481 14,118 Inventories 8,972 10,179 Loans Payable – Current & Non - Current 1,638 2,377 Trade and Other Receivables 8,401 7,418 Others 7,814 5,1
Slide 28: Ratios Summary
Ratios Summary Current Ratio Net Debt - to- Equity Ratio Core Net Margin Others 2.26 2.11 12.3% 11.4% 0.13 0.08 Dec 2025 Sep 2026 Dec 2025 Sep 2026 9M 2025 9M 2026 Current ratio = Current assets / Current liabilities Net debt - to- equity ratio = (Total liabilities – Cash and cash equivalents) / Equ
Slide 29: Making Better Possible
Product Planet People Partnershi ‘Strategic | Making ‘Making ‘Making Pillars | Better Food Eco-Efficiency | Inclusivity Collective Action Accessibility | Possible Possibi Possible Possible Priority UN 12 ssn corm B47 rencsir consnroN fcc cao roma cous SDGs xo -RCTN Ba ero ® North Star] Majorty reven
Slide 30: Our Aspiration
_ Our Aspiration Wi aspire [6 improve Me wellbeing of people and the plane, and create sustainable solitions for food security. ”
Slide 31: Legal Disclaimer
Legal Disclaimer Monde Nissin Corporation (“MONDE”) makes no warranties or representations with respect to the accuracy or completeness of the contents of this presentation, and disclaims any liability whatsoever for any loss arising from or in reliance, in full or in part, of the contents of this p
Slide 32: Investor relations contact details
investor.relations@mondenissin.com www.linkedin.com/company/monde - nissin - corporation/ +63 2 7759 7519 / +63 2 7759 7577 www.facebook.com/Monde - Nissin - Corporation https://mondenissin.com / Santa Rosa City, Laguna, Philippines https://edge.pse.com.ph / 32