We are a global branded food and beverage company that caters to today’s consumer needs for premium quality, healthy products.
As a food company, Del Monte Philippines remains committed to sustaining its future for its consumers, host communities, business partners, employees, and shareholders in a holistic way, the Triple Bottom Line – people, planet, and performance.
The economic impact of DMPI extends beyond its approximately 4,200 regular employees. In addition, there are about 12,200 employees of service providers who work in all areas of the Company’s operations.
The Company’s pineapple plantations in the southern Philippines encompass one city and 12 municipalities in Bukidnon and one city and six municipalities in Misamis Oriental, Mindanao. An estimated 20,000 families or approximately 100,000 individuals directly or indirectly depend on the Company including those of fruit growers, truckers, harvesters, and maintenance crews.
DMPL’s 2nd largest and most profitable subsidiary, Del Monte Philippines, achieved sales of US$729.5 million for full year FY22, up 3%. EBITDA of US$154.2 million increased by 1%, and net profit of US$97.7 million was up by 3%.
Packaged fruit and spaghetti sauce category consumption was down due to shifting of consumer priorities in the face of inflation. Despite volume decline, we were able to increase packaged fruit market share from sustained marketing programs. In spaghetti sauce category, we lost share from low-priced brands.
Sales of 100% pineapple juice declined as some consumers shifted to our multi-flavored line of juice drinks in single cans and 1-liter carton packs with growth of 54%.
Foodservice sales rose 14% as we capitalized on the increased restaurant foot traffic.
Innovation contributed 6.5% of total DMPI FY22 sales, including innovations consisting of Mr. Milk, Potato Crisp, Fruity Munchsters snacks, and the new Del Monte-Vinamilk dairy products.
International market delivered growth led by S&W branded fresh pineapple, growing 18% driven by success in North Asia, especially China.
S&W pineapple sales in China grew from expanded distribution coverage of existing distributors, plus new distributors which have supported the continued expansion into tier 2 and 3 cities.
S&W launched the naturally-ripened extra sweet S&W Deluxe Premium in China, Japan and South Korea with sustained favorable market feedback. This premium fresh variety is gaining traction in China’s retail segment.
S&W’s high quality, premium MD2 fresh pineapple, makes the Company the largest fresh pineapple exporter to China with 53% volume share.
E-commerce and digital marketing are growing with North Asia having the largest share of e-commerce pie. S&W is in most of the portals in China and South Korea.
Close to 60% of DMPI’s suppliers are considered small and medium enterprises. These suppliers will undergo the supplier accreditation process of the Company and evaluated based on performance - quality, delivery, and competitiveness.
DMPI has a Code of Business Conduct which outlines the Company’s practices in building its relationship with suppliers while adhering to the principles of integrity, mutual interest, and fairness in conducting business.
In selecting suppliers, DMPI applies its Supplier Quality Management Program to assess the quality and delivery performance, feedback, continuous improvement programs for all material suppliers and toll manufacturers.
The objective of the program is to align DMPI’s quality parameters with that of suppliers, provide performance scorecards, classify suppliers into certified, preferred, approved, and conditional suppliers, and align them with DMPI’s goals that will support growth in the next five years. The program determines the allocation of the Company’s requirements to suppliers.