{"id":332179,"date":"2025-04-08T00:53:11","date_gmt":"2025-04-07T16:53:11","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332179"},"modified":"2025-04-08T00:53:13","modified_gmt":"2025-04-07T16:53:13","slug":"stock-in-focus-monde-nissin-corp-monde-8-april-2025-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-monde-nissin-corp-monde-8-april-2025-by-regina-capital-development-corp\/","title":{"rendered":"Stock in Focus: Monde Nissin Corp. (MONDE) – 8 April 2025 by Regina Capital Development Corp."},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>MONDE<\/td><\/tr>
Company Name<\/strong><\/td>Monde Nissin Corp.<\/td><\/tr>
Broker<\/strong><\/td>Regina Capital Development Corp.<\/td><\/tr>
Opinion Issued on<\/strong><\/td>8 April 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 11.40<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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We maintain our BUY recommendation on MONDE with a target price of P11.40\/share, supported by strong APAC BFB performance, improving profitability, and ongoing expansion. Investments in capacity growth and Meat Alternative restructuring, along with rising consumer spending and easing inflation, position MONDE for sustained growth.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

Monde Nissin Corporation booked a +3.7% year-on-year (y\/y) revenue growth to P83.1 billion in 2024, with core net income surging +28.6% to P9.8 billion, driven by the APAC BFB segment. APAC BFB\u2019s +5.4% revenue growth to P69.5 billion was led by strong volume expansion, with non-biscuit\/noodle products growing fastest at +11.8%. Lower costs and manufacturing efficiencies boosted core EBITDA by +18.2% to P16.0 billion. <\/p>\n\n\n\n

Meanwhile, the Meat Alternative segment faced a -4.5% revenue decline but remained EBITDA neutral and cash positive, benefiting from cost controls and restructuring. Despite a P6.8 billion non-cash impairment, ongoing restructuring efforts aim to deliver GBP8mn in annual savings by 2026E. <\/p>\n\n\n\n

We forecast MONDE’s profitability to improve with normalizing earnings, lower impairment loss, coupled with improving consumer consumption and the company\u2019s continuous expansion in its capacity.<\/p>\n\n\n\n

MONDE raised capex to P7.55 billion from P4.86 billion in 2024, focusing on APAC BFB expansion and Meat Alternative restructuring. A new biscuit plant in northern Luzon is expected to generate P10 billion in sales, while investments aim to stabilize Meat Alternative by 2026E and achieve double-digit core EBITDA by 2027E.<\/p>\n\n\n\n

Consumer trend is looking bright with easing inflation and favorable monetary policies that strengthened consumer spending in 2024, with inflation dropping to 1.8% by March 2025. Rate cuts and sustained low inflation is expected to drive a rise in household spending, benefiting MONDE\u2019s snack and staple food categories ami stronger demand.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>