Del Monte Pacific Ltd. (SGX: D03) reported first-quarter fiscal 2027 results on September 9, 2026, posting a net profit that surged nearly threefold to US$16.1 million, compared with approximately US$5.4 million a year earlier.
Total sales reached US$222.1 million, up 9% year-over-year. International markets contributed US$118 million, reflecting a 21% increase, while Philippine operations generated US$82.6 million — up 2% in peso terms but down 7% in U.S. dollar terms.
Gross profit rose 13% to US$74.7 million, pushing gross margin up 120 basis points to 33.7%. EBITDA surged 25.7% to US$49.3 million, and net margin more than doubled to 7.3% from 2.7% in the prior-year period. Operating cash flow, however, declined 25% to US$57.6 million.
The results came against a backdrop of continued balance-sheet stress. The holding company carries a negative equity position of US$579 million and total liabilities of US$1.2 billion, following a US$703 million write-down on its U.S. business at the end of fiscal 2025. Net debt fell 5% to US$969.7 million, and the net-debt-to-EBITDA ratio improved to 5.1 times from 6.9 times. The net-debt-to-equity ratio stood at negative 1.68 times.
Management acknowledged that the Philippines subsidiary alone "cannot address the group's total liabilities of US$1.2 billion or restore positive equity through operations," but added that the capital deficit "does not fully reflect the financial strength and underlying operating capacity of DMPL's core Philippine business."
Segment growth was led by pineapple categories, with fresh pineapple sales rising 20% and packaged pineapple exports climbing 23%. In North Asia, Del Monte maintained an overall 54% market share for imported fresh pineapple — 74% in China, 43% in Korea, and 24% in Japan.
In the Philippines, market-share data for May–July 2026 showed ready-to-drink juices excluding foil pouches at 38.8% share amid 4.9% category growth, while tomato sauce held 83.8% share in a contracting category. Spaghetti sauce share stood at 42.6% in a segment that declined 2%.
On the product front, S&W Deluxe Fresh Pineapples launched in S&R membership clubs in late April and expanded to 15 outlets within two months, drawing what management called an "overwhelming response" in Greater Manila. A 1.4-kilogram stand-up pouch of Today's Mixed Fruits was test-marketed in June with a national rollout planned for September.
The company is also marking its centennial this year with its "100 Years of Nourishing Goodness" campaign. Sustainability initiatives included solar power savings of PHP 39.3 million (approximately US$670,000) in fiscal 2026 and a water-use ratio of 11.50 liters per kilogram of products manufactured in Philippine operations.
Del Monte Pacific shares traded at SGD$0.071 following the announcement, up 5.97%, within a 52-week range of $0.065 to $0.112.
