URC net income dips 2% to P12.5 billion in 2024

Universal Robina Corp. (URC) reported a 2% decrease in net income to P12.5 billion in 2024.

The company's core net income also saw a 3% decline, reaching P12.2 billion, primarily due to lower earnings from its sugar and renewables business (SURE).

URC's revenues experienced a 3% growth, amounting to P161.9 billion, with volume growth observed across all divisions.

Total operating income ended at P16.7 billion, down by 4% compared to the previous year, also driven by reduced profits from the SURE business.

Excluding the SURE business, URC achieved a 20% operating income growth, bolstered by structural margin improvements.

Net income from continuing operations was higher than operating income due to increased foreign exchange gains compared to 2023.

URC announced a dividend of P2.00 per share, a 5% increase from the previous year, with payout scheduled for May 9, 2025.