Del Monte Pacific Limited · SGX:D03
Del Monte Pacific — Q3 FY2025 Earnings Presentation
36 slides from Del Monte Pacific's earnings presentation, Mar 12, 2025
Slide 1: Del Monte Pacific Ltd. 3Q FY2025 Results
Del Monte Pacific Ltd. 3Q FY2025 Results 12 March 2025 1
Slide 2: Disclaimer
DISCLAIMER ▪ This presentation may contain statements regarding the business of Del Monte Pacific Limited and its subsidiaries (the “Group”) that are of a forward-looking nature and are therefore based on management’s assumptions about future developments. Such forward-looking statements are typical
Slide 3: Contents
CONTENTS • Summary • 3Q FY2025 Results (1 November to 31 January 2025) • 9M FY2025 Results (1 May to 31 January 2025) • Market Updates • Sustainability • Strategic Priorities & Outlook This presentation should be read in conjunction with the press release and Management Discussion and Analysis (MD&A
Slide 4: Highlights
HIGHLIGHTS Third Quarter FY2025 Highlights • Group Sales: Increased by 3% to US$663m, driven by 29% growth in international sales of fresh pineapple and packaged products. • DMPI Performance: Achieved an 83% increase in net profit to US$21m, supported by export growth, favorable sales mix and cost r
Slide 5: Strategic Priorities & Outlook
STRATEGIC PRIORITIES & OUTLOOK The Group remains focused on its strategic priorities to drive long-term growth and profitability: 1. Consolidation of Underutilized Assets: DMFC is reducing its U.S. manufacturing footprint to lower costs and improve margins in FY2026 and FY2027. DMFC has closed its H
Slide 6: 3Q FY2025 Results
3Q FY2025 RESULTS 3Q 3Q In US$m Chg (%) Comments FY2025 FY2024 Strong exports of fresh pineapple and packaged Turnover 663.0 646.7 +2.5 products offset the 1% decline in DMFC/USA Higher costs in DMFC negated the good Gross profit 115.9 116.6 -0.6 performance of Del Monte Philippines Higher cost in D
Slide 7: 3Q FY2025 Results
3Q FY2025 RESULTS 2% Americas 12% 16% Philippines 70% Asia Pacific ex-Philippines Europe Sales growth Comments Americas -1% ▪ Lower retail volume and unfavorable sales mix, partly offset by better pricing and higher volume in foodservice Philippines -1% ▪ Key categories of beverage, packaged fruit a
Slide 8: 9M FY2025 Results
9M FY2025 RESULTS 9M 9M In US$m Chg (%) Comments FY2025 FY2024 Strong exports of fresh pineapple and packaged Turnover 1,893.9 1,830.5 +3.5 products offset the 1.5% decline in DMFC/USA Higher costs in DMFC negated the good Gross profit 340.9 360.4 -5.4 performance of Del Monte Philippines Higher cos
Slide 9: 9M FY2025 Results
9M FY2025 RESULTS 2% 13% Americas 16% Philippines 69% Asia Pacific ex-Philippines Europe Sales growth Comments Americas -1% ▪ Sales decreased driven by slowdown in healthy snacking and changing sales mix ▪ Higher Kitchen Basics sales Asia Pacific +30% ▪ Higher exports of fresh pineapple and packaged
Slide 10: Market Updates
MARKET UPDATES 10
Slide 11: Del Monte Philippines 3Q FY2025
DEL MONTE PHILIPPINES 3Q FY2025 ▪ Sales of US$198.6m, +10% with Philippine sales of US$106.9m, +4% in peso terms ✓ Solid performance across the beverage, packaged fruit and culinary segments. ✓ For the festive Christmas season, Del Monte launched a campaign celebrating mothers as the heart and plann
Slide 12: Philippines Market Shares
PHILIPPINES MARKET SHARES Leadership market shares with notable increase in Beverage Category consumption growing 43.4% +4.4pts 76.5% +0.2pt 93.6% -1.7pts RTD Juices ex foil pouches (#1) Canned Mixed Fruit (#1) Packaged Pineapple (#1) Category: +0.9% Category: +8.4% Category: +4.4% 85.4% +0.3pt 38.1
Slide 13: Philippines Christmas Campaign
PHILIPPINES CHRISTMAS CAMPAIGN Del Monte Christmas Campaign Launched the “Iba ang Sarap ng Paskong Del Monte” campaign (Nothing compares to the delicious taste of a Del Monte Christmas) in TV and Digital, to showcase Del Monte’s portfolio of products that makes Christmas celebrations more delicious
Slide 14: Philippines - Fruits
PHILIPPINES - FRUITS Mixed Fruits & Canned Pineapple • Maximized the Peak Holiday months with stronger in-store visibility Thematic Mass Displays Units Additional cut case displays Home shelf dress up • Highlight of Fiesta Fruit Cocktail in the Corporate Christmas Digital Campaign, leveraging on the
Slide 15: Philippines - Beverage
PHILIPPINES - BEVERAGE 1. Launched a holiday campaign for Del 2. Build trial for Del Monte Fruity Zing! Monte 100% Pineapple Juice Fiber Enriched! ✓ Digital messaging encouraging nightly ✓ Digital partnership with the winners of Pinoy Big cleansing to offset the big holiday eating Brother (Gen Z), a
Slide 16: Philippines - Culinary
PHILIPPINES - CULINARY Thematic Corporate Christmas Campaign supported with tactical recipe reminders on digital and in-store for season relevant Tomato Sauce and Spaghetti Sauce New Christmas Campaign highlighting the familial warmth and deliciousness that only Del Monte can bring Tomato Sauce reci
Slide 17: Philippines Retail (Supermarkets & Convenience)
PHILIPPINES RETAIL (SUPERMARKETS & CONVENIENCE) Sustained momentum in Supermarkets & Convenience Stores driven by increased consumption efforts SUPERMARKETS CONVENIENCE STORES ▪ 3Q sales +1% vs prior year driven by Christmas ▪ Strong performance continued in 3Q reflecting replenishment +15% growth i
Slide 18: Philippines Away-From-Home
PHILIPPINES AWAY-FROM-HOME Foodservice renamed as Away-From-Home continues to drive relevance in menu development and meal pairing ▪ Del Monte is now catering to 11,691 outlets: Key Accounts at 4,334 and General Trade at 7,357 ▪ Continued to create relevance for Pineapple Juice by featuring Meal Pai
Slide 19: International - Fresh Market Share
INTERNATIONAL - FRESH MARKET SHARE Leading Market Shares for Fresh Pineapple CY2020 - CY2024 • North Asia market share 80% increased to 49% from 38% in 2023, behind China 67% strong market demand 70% and improved supply. 60% North Asia 49% 50% • #1 position maintained in China for CY2024. 40% Korea
Slide 20: S&W Fresh
S&W FRESH S&W – GOODFARMER DELUXE FRESH PINEAPPLE RECEIVES “SUPERIOR TASTE AWARD” S&W Deluxe Fresh Pineapple, co-branded with Goodfarmer, its partner distributor in China, receives the SUPERIOR TASTE AWARD from the International Taste Institute’s jury of world’s best Chefs and Sommeliers in January
Slide 21: S&W Fresh
S&W FRESH To celebrate the Chinese New Year, special gift box of S&W Deluxe Fresh Pineapple was launched via its partner/distributor, Eachtake. This special promotion was launched in Shanghai and Jiaxing, China. Special edition Deluxe gift box contains 3 S&W Deluxe Fresh Pineapples sold in Eachtake
Slide 22: S&W Fresh
S&W FRESH Our partner distributor, Goodfarmer, held the Gift Festival Roadshow in Wanda Plaza, Shanghai on January 11 in preparation for the celebration of Chinese New Year. The show featured the S&W Deluxe Pineapple with several activities to attract and interact with shopgoers. 22
Slide 23: S&W Packaged
S&W PACKAGED S&W Salted Egg Cookies launched in Hong Kong and Macau S&W Salted Egg Cookies, the latest innovation of S&W, was launched in Hong Kong and Macau in January 2025! This innovative product brings our S&W brand into a new category, expanding outside its canned fruit and culinary portfolio.
Slide 24: Del Monte Foods Corp. (DMFC) 3Q FY2025
DEL MONTE FOODS CORP. (DMFC) 3Q FY2025 ▪ Sales of US$461m in USA or 70% of Group sales; sales marginally lower by 1% due to lower retail volume and unfavorable sales mix, partly offset by better pricing and higher volume in foodservice ▪ Gross profit declined to US$58.2m from US$73.1m mainly due to
Slide 25: DMFC's Transformational Journey
DMFC’S TRANSFORMATIONAL JOURNEY Reset Restoring Realizing Sustainable Foundation Performance Transformational Gains Growth & Development FY 2024-2025 FY 2025-2026 FY 2026-2027 FY 2027-2028 Took decisive actions to address Improving margins and Agile footprint and inventory Growing our branded portfo
Slide 26: Inventory Highlights
INVENTORY HIGHLIGHTS Our inventory reduction plans are working; in FY2026, inventory will be 47% lower than in FY2024 FY24 FY25 Inventory FY26 FY24 vs FY26 FY24 vs FY2024-2026 Inventory (US$m) Inventory Actuals / Inventory Invnetory FY26 Month Actuals Projections Projections Change Change % May $ 67
Slide 27: Inventory Co-Man Strategy
INVENTORY CO-MAN STRATEGY This successful shift to external vs. internal production will provide the following benefits: • Lower product costs • Decreased working capital requirements • Reduced agricultural and cost risk • Removes absorption pressure • Allows migration to +92% branded sales • Plant
Slide 28: USA Market Shares 3Q FY2025
USA MARKET SHARES 3Q FY2025 24.7% -0.8 pt 17.5% -0.9 pt 21.9% -3.6 pts Canned Vegetable (#1) Canned Fruit (#2) Fruit Cup Snacks (#2) Category: -0.3% Category: -4.6% Category: -3.1% 8.7% -1.1 pts 5.6% -0.4 pt Broth & Stock (#2) Canned Tomato (#3) Category: +1.8% Category: +0.4% Source for market shar
Slide 29: USA Market Shares FY2025 vs FY2020
USA MARKET SHARES FY2025 vs FY2020 Despite FY2025 market share losses due to decreased trade promotion, Del Monte has gained share across categories since FY2020 (+3 Pts total) Del Monte EQ Vol Share F20 F25 24.7% 22.1% 23.8% 16.2% 17.2% 16.5% 18.0% 12.9% 5.9% 5.8% 5.7% 8.0% Total TotalDMFC DMFI Can
Slide 30: Dynamic Innovation
DYNAMIC INNOVATION FY2025 has been our most dynamic year of new product innovation Convenient Accessible Discovery Purposeful Snacking Elevated Offerings Solutions 30
Slide 31: New Sales Distribution
NEW SALES DISTRIBUTION New distribution plans in place to drive 900k stat cases in FY2026 Veg Tomato Broth/Stock COS Fruit Produce + JOYBA Vegetable brand rationalization, platform selling and profitability-oriented Must Carry list driving strong plans 31
Slide 32: Growth from New Products
GROWTH FROM NEW PRODUCTS New products will drive FY2026 sales growth and channel expansion Club +5% OMNI +11% Natural +10% Small Format +5% Note: Growth is FY2026 sales vs FY2025 x Surplus 32
Slide 33: E-Commerce Growth
E-COMMERCE GROWTH E-commerce will deliver +US$180m sales in FY2025 and we continue to outpace the industry in our core areas of Growth – Sales, Penetration and Share DMFC is now at parity Share Growth in all BU’s with the industry! Industry 5-year CAGR – 16% COS fruit + 24.6 points 2025 Industry – 1
Slide 34: Sustainability
SUSTAINABILITY Renewable Energy Plastic Recycling Waste Management Environment • The plantation • DMPI complied with • The Cabuyao team •The Foundation, in facilities’ 4.0MW the EPR law to divert participated in a cooperation with solar power facility and recycle 40% of its Waste Management various
Slide 35: Sustainability USA
SUSTAINABILITY USA Emissions Reduction Disaster Relief Recyclable Packaging • Between FY2021 and • Del Monte Foods supported • 92% of all Del Monte Foods FY2024, Del Monte Foods the Los Angeles community packaging is non-plastic has reduced total Scope 1, 2 with food donations through and recycle-re
Slide 36: Strategic Priorities & Outlook
STRATEGIC PRIORITIES & OUTLOOK The Group remains focused on its strategic priorities to drive long-term growth and profitability: 1. Consolidation of Underutilized Assets: DMFC is reducing its U.S. manufacturing footprint to lower costs and improve margins in FY2026 and FY2027. DMFC has closed its H