Udenna Corporation Reports 2019 Net Profit of P3.39 Billion

Jun 08, 2020

Udenna Corporation (Udenna) reported P3.39 billion in net profits for 2019 on the back of P110.67 billion in revenues, 17% up from the previous year and the highest in the company’s history. The Company’s profitability was significantly driven by its Udenna Land Inc (ULI) subsidiary which reported record net profits for the year. Udenna generated P14.17 billion of EBITDA during the year.

The Company’s financial position remained strong with leverage going down as shown by its debt to equity ratio improving to 2.71x from 3.09x in 2018. Moreover, 58% of Udenna's total debt is long-term in nature while cash levels rose by 31% to P13.51 billion.

Udenna’s cash flows were healthy and significantly increased during the year with cash flows from operating activities jumping 2.21x to P7.83 billion.

Udenna Corporation Chairman and CEO Dennis A. Uy said, “We are quite happy with the results but the work for creating shareholder value never ends; we continue to lay down the groundwork for Udenna’s future growth and profitability.”

Mr. Uy added, “The on-going COVID-19 situation remains serious and we have been adjusting to it. But just the same we are already looking beyond COVID-19 as we explore new ways of running our businesses, engaging our customers as well as looking at new opportunities and forging strategic partnerships and investments.”

Udenna through various programs under the Udenna Foundation harnessed the strength of their subsidiaries to undertake efforts ranging from donation of test kits for use by the Department of Health, service to front liners like food, fuel and personal protective equipment, free logistics services to farmers in cooperation with the Department of Agriculture and social enterprises like AGREA, relief operations to various local government units, and other programs under CommUnity Care.

Due to the pandemic, Udenna sees 2020 as a challenging year across all its businesses but it has rapidly adjusted to the situation by implementing measures to ensure that its people remain safe, keep operations on a business as usual mode, and preserve its resources.


More News