Monde Nissin Corp. · PSE:MONDE
Monde Nissin — H1 2026 Earnings Presentation
33 slides from Monde Nissin's earnings presentation, Aug 12, 2026
Slide 1: 1H 2026 Earnings Presentation
1H 2026 Earnings Presentation August 12, 2026
Slide 2: First Half 2026 Business Performance
First Half 2026 Business Performance 2
Slide 3: Key Takeaways
Key Takeaways 1 2 APAC BFB Protein Growth driven by Continuing positive trajectory driven by Biscuits and Strategic Growth growing Quorn UK retail snacking (formerly “Others”) categories Year-on-year gross margin progression, Pricing actions and cost management driven by transformation benefits, low
Slide 4: APAC BFB: Noodles gains in wet pouch offset softness in dry pouch and cups
APAC BFB: Noodles gains in wet pouch offset softness in dry pouch and cups 2Q26 Performance & Drivers #1 Value Market Share Volume Market Share 69.1% 74.5% 75.0% 69.1% 2Q25 2Q26 2Q25 2Q26 Value Market Share by Segment 2Q25 2Q26 Wet Pouch 62.7% 64.4% Dry Pouch 82.3% 82.0% Cups 40.9% 40.3% 4 Source: N
Slide 5: APAC BFB: Biscuits growth in sandwich offset by decline in crackers
APAC BFB: Biscuits growth in sandwich offset by decline in crackers 2Q26 Performance & Drivers #2 29.0% 28.7% 2Q25 2Q26 5 Source: Nielsen Retail Audit (past 12 weeks as of June 2026)
Slide 6: APAC BFB: Oyster sauce, packaged cakes, yogurt drinks and cultured milk
APAC BFB: Oyster sauce continues to grow due to increased in-home cooking; measures in place to address challenges in yogurt drinks and cultured milk; packaged cakes growing through premium segment Oyster Sauce Packaged Cakes Others #1 #3 61.2% 64.8% 10.7% 11.6% 2Q25 2Q26 2Q25 2Q26 Yogurt Drinks Cul
Slide 7: APAC BFB: Others category repositioning to Strategic Growth category
APAC BFB: Others category continues to drive growth, repositioning to “Strategic Growth” category Beverages Revenue Culinary Revenue Packaged Cakes Revenue In PHP bn In PHP bn In PHP bn 17.3% CAGR 14.9% CAGR 7.0 7.2 5.9 18.9% CAGR 4.8 4.7 3.8 3.8 3.2 3.4 2.7 3.0 2.4 1.9 2.1 1.5 FY21 FY22* FY23* FY24
Slide 8: Protein: Protein Bites launched; continued Quorn snacking growth
Protein: Protein Bites launched; continued Quorn snacking growth Snacking in growth for 8th consecutive quarter Campaign outperformed last summer on key brand metrics Protein Bites launch gaining traction in and out of meat-free section; selling price per kilogram almost double the UK retail portfol
Slide 9: First Half 2026 Financial Performance
First Half 2026 Financial Performance 9
Slide 10: Consolidated: Revenue grew 6.8% in the first half
Consolidated: Revenue grew 6.8% in the first half, with growth from both APAC BFB and Protein Net Sales Consolidated By Business as of 44,295 2Q26 & 1H26 41,457 20,576 21,518 In PHP millions +6.8% Protein +4.6% 17% 2Q25 2Q26 1H25 1H26 APAC BFB Protein 36,914 34,865 +12.0% 17,282 17,820 +12.3% +5.9%
Slide 11: Consolidated: Record first half core net income attributable to shareholders
Consolidated: Record first half 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 Shareholders1 • Q2 gross margin growth 35.2% 34.1% 33.3% year-on-year driven by APAC 31.6% BFB and Prot
Slide 12: Consolidated: Retained earnings at PHP 11.8 billion as of June 30, 2026
Consolidated: Retained earnings for Monde Nissin Corporation and Monde M.Y. San Corporation at PHP 11.8 billion as of June 30, 2026 Operating Cash Flow Retained Earnings In PHP mn In PHP mn Parties 7,632 Involved 4,310 Monde Nissin Corporation (Parent)1 10,370 1H25 1H26 Coverage Cash & Cash Equivale
Slide 13: APAC BFB: Revenue growth largely from Biscuits and Strategic Growth
APAC BFB: Revenue growth largely from Biscuits and Strategic Growth categories Net Sales Strategic By Business as of 2Q26 & 1H26 APAC BFB Noodles Biscuits Growth2 Strategic Growth Q2 Year-on-Year +3.1% -2.3% +4.8% +11.3% 24% Noodles 42% Net Price1 +2.8% +3.8% +3.9% -0.9% Biscuits Volume/Mix +0.3% -6
Slide 14: APAC BFB: Wheat and palm oil fully secured through 3Q26
APAC BFB: Wheat and palm oil fully secured through 3Q26 and partially secured through 4Q26 Wheat (14% of 1H APAC BFB COGS) Percent Locked In: Q3 2026: 100% Q4 2026: c.75%1 External (Bloomberg) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Internal (MONDE) 2021 2022 2023 202
Slide 15: APAC BFB: Coconut oil has started to normalize
APAC BFB: Coconut oil has started to normalize, down 10% from its peak; pricing actions and reformulations taken Coconut Oil & Coconut Oil-Related Input Costs (7% of 1H APAC BFB COGS) Coconut Oil • Volatile trends Quarterly from Q1 2016 to Q2 2026 driven by climate effects on -10% production • El Ni
Slide 16: APAC BFB: Core net income increased +11.9% in Q2
APAC BFB: Core net income increased +11.9% in Q2 due to higher gross profit and foreign exchange gain Gross Profit A&P to Sales • 1H gross margin +102 bps year-on-year; Q2 gross 36.0% margin +212 bps year-on- 35.0% 35.0% year, mainly driven by +1.0ppts 32.9% pricing actions and cost 13,304 managemen
Slide 17: Protein: 1H26 EBITDA exceeded FY25 EBITDA
Protein: 1H26 EBITDA exceeded FY25 EBITDA, EBIT positive for second consecutive quarter, gross margin expanded +496 bps, sales trajectory continuing to stabilize Net Sales Gross Profit Core EBITDA1 • Q2 sales grew year-on-year by 12.3% on a reported basis, grew by 2.7% on a constant currency basis o
Slide 18: Consolidated: 2026 CapEx plan
Consolidated: 2026 CapEx plan to focus on building capacity and capability for APAC BFB In PHP mn 6,489 988 5,216 4,860 4,719 4,432 703 3,753 1,817 881 3,660 3,641 2,373 1,031 1,522 1,784 5,501 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 19: Appendix
Appendix 19
Slide 20: Key financial takeaways
Key financial takeaways 1 Consolidated revenue increased by 6.8% to Php 44.3 bn in the first half and by 4.6% to Php 21.5 bn in the second quarter. APAC BFB net sales for the first half grew by 5.9% to Php 36.9 bn, while it rose by 3.1% in the second quarter to Php 17.8 bn, driven 2 largely by growt
Slide 21: Consolidated P&L Summary
Consolidated P&L Summary PHP mn Reported Reported 1H 2025 1H 2026 Q2 2025 Q2 2026 Change YoY Change YoY Revenue 41,457 44,295 +6.9% 20,576 21,518 +4.6% Cost of Goods Sold 27,661 28,706 +3.8% 14,067 14,170 +0.7% Gross Profit 13,796 15,589 +13.0% 6,509 7,348 +12.9% Core Operating Expenses1 7,444 8,547
Slide 22: Reported net income figures include one-off items
Reported net income figures include one-off items PHP mn Reported Reported 1H 2025 1H 2026 Q2 2025 Q2 2026 Change YoY Change YoY Core Net Income 4,737 5,459 +15.2% 1,813 2,224 +22.7% Other Income (Expenses) (163) 169 N/M (19) (222) N/M Fair Value Gain (Loss) on Guaranty (305) 1 N/M (15) (209) N/M As
Slide 23: APAC BFB P&L Summary
APAC BFB P&L Summary PHP mn Reported Reported 1H 2025 1H 2026 Q2 2025 Q2 2026 Change YoY Change YoY Revenue 34,865 36,914 +5.9% 17,282 17,820 +3.1% Cost of Goods Sold 22,656 23,610 +4.2% 11,601 11,585 -0.1% Gross Profit 12,209 13,304 +9.0% 5,681 6,235 +9.8% Core Operating Expenses1 5,693 6,457 +13.4
Slide 24: Protein P&L Summary
Protein P&L Summary PHP mn Reported Reported 1H 2025 1H 2026 Q2 2025 Q2 2026 Change YoY Change YoY Revenue 6,592 7,381 +12.0% 3,294 3,698 +12.3% Cost of Goods Sold 5,005 5,096 +1.8% 2,466 2,585 +4.8% Gross Profit 1,587 2,285 +44.0% 828 1,113 +34.4% Core Operating Expenses1 1,751 2,090 +19.4% 980 1,0
Slide 25: Quorn Foods market share up +82 bps versus 2Q25
Quorn Foods market share up +82 bps versus 2Q25 driven by strong gains in Quorn frozen partially offset by Cauldron UK Retail Meat Alternative Market2 Total Market Share (%) 1 Total Market Growth 32.9 Quorn Cauldron Other Brands Private Label 32.5 32.6 32.0 0.7% 32.2 32.0 31.3 31.4 31.4 31.5 31.2 31
Slide 26: Cash Flow Summary
Cash Flow Summary PHP mn 1H 2025 1H 2026 Income before Income Tax 5,969 7,450 Depreciation & Amortization 1,370 1,444 Fair Value Loss (Gain) on Guaranty Asset 305 (1) Finance Costs 243 181 Finance Income (197) (246) Impairment Loss 55 - Working Capital Adjustments (2,051) 325 Others 5 (104) Net Cash
Slide 27: 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 18D 18D 32D 31D 7,154 6,875 6,050 4,418 1H25 1H26 1H25 1H26 Inventory & Days Inventory Outstanding Accounts Payable1 & Days Payables Outstanding PHP mn PHP mn 58D 58D 73D
Slide 28: Balance Sheet Summary
Balance Sheet Summary PHP mn Dec 31, 2025 Jun 30, 2026 PHP mn Dec 31, 2025 Jun 30, 2026 Cash and Cash Equivalents 15,398 14,380 Trade and Other Payables 13,481 12,838 Inventories 8,972 9,309 Loans Payable – Current & Non-Current 1,638 2,056 Trade and Other Receivables 8,401 6,875 Others 7,814 5,349
Slide 29: Ratios Summary
Ratios Summary Current Ratio Net Debt-to-Equity Ratio Core Net Margin Others 2.23 2.11 12.4% 11.4% 0.13 0.10 Dec 2025 Jun 2026 Dec 2025 Jun 2026 1H 2025 1H 2026 Current ratio = Current assets / Current liabilities Net debt-to-equity ratio = (Total liabilities – Cash and cash equivalents) / Equity at
Slide 30: 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 31: Our Aspiration
_ Our Aspiration Wi aspire [6 improve Me wellbeing of people and the plane, and create sustainable solitions for food security. ”
Slide 32: 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 33: 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/ 33