Del Monte Pacific Ltd (DMPL) returned to the black in the 12 months ended 30 Apr 2026, posting a net profit of US$48.4 million against a US$796.4 million loss a year earlier, when the group booked a one-off impairment of its former US subsidiary. Management attributed the turnaround to double-digit sales growth in the Philippines and international markets, coupled with wider gross margins in fresh and processed pineapple products.
For the year, group revenue climbed 13.5 % year-on-year (YoY) to US$896.1 million (about S$1.16 billion). Earnings per share came in at 2.49 US cents, compared with a loss of 40.97 US cents in FY25. The board did not propose a dividend, citing the holding-company capital deficit that persists after last year’s US write-down.
Across operating regions, Asia-Pacific remained the main earnings driver, generating US$179.5 million in operating profit, up 33 % YoY, on sales of US$785.8 million (+11.6 %). Europe more than doubled its contribution to US$19.4 million (+173 %), while the Americas earned US$5.0 million (+82 %) on a smaller revenue base. At group level, EBITDA improved 26 % to US$181.1 million and gross margin widened 4.8 percentage points to 33.2 %, reflecting favourable pricing and a richer product mix anchored by higher-margin S&W Deluxe pineapples.
Del Monte Philippines Inc (DMPI), the core subsidiary, lifted turnover 12.6 % to PHP49.8 billion (US$860 million). Premium fresh fruit exports surged 18.8 %, while domestic sales of packaged food and beverages rose 7.9 % in peso terms. The division’s profit before tax advanced 38 % to PHP6.62 billion (US$114 million) despite foreign-exchange losses tied to a weaker peso.
Group net debt fell 5.5 % to US$977 million, trimming the net-debt-to-EBITDA ratio to 5.4 times from 7.2 times. Capital expenditure increased 3.2 % to US$174.1 million, primarily for plantation expansion and plant upgrades. Free cash flow eased to US$111.8 million after higher inventory and bearer-plant investments.
Looking ahead, management targets continued profitability in FY27. Priorities include protecting margins amid commodity volatility stemming from geopolitical tensions, reinforcing Philippine market leadership in beverages and culinary lines, and safeguarding pineapple supply against El Niño. The group is also pursuing a comprehensive debt-restructuring plan to address its negative equity position following the US business deconsolidation, while redeploying proceeds from the US$14.1 million sale of its remaining stake in India’s Sundrop Brands to bolster working capital and debt reduction initiatives.