PCPPI cautiously optimistic in 2022

Published July 5, 2022, 2:27 PM

by James A. Loyola

Pepsi-Cola Products Philippines, Inc. (PCPPI)—the exclusive manufacturer of PepsiCo beverages in the country—expressed cautious optimism due to its strong start in 2022 and its good 2021 results.

The firm said it “sustained the momentum as it made a 2022 fast start for both carbonated soft drinks and non-carbonated beverages” but sees the huge challenge of increasing commodity prices for the year.

PCPPI Logo

PCPPI said it has improved its market share and distribution efforts. This resulted in stronger brand performance.

“Our first quarter volume surpassed the total sales of 2021 and 2019 pre-pandemic level. Our leading brands Mountain Dew and Sting hit a remarkable growth versus previous year,” said PCPPI President Frederick D. Ong during the firm’s stockholders’ meeting.

PCPPI posted strong financial performance in 2021, which further highlighted the company’s sustained recovery and operational resilience.

Ong reported that the company grossed P32.8 billion in revenue and P3 billion in EBITDA or earnings before interest, taxes, depreciation, and amortization in 2021.

PCPPI’s net revenue realizations also rose to 3.5 percent. This is attributed to a better portfolio mix and cost containment, especially of its fixed cost.

Its operating expenses narrowed by 3 percent while its capital expenditure spend ran short of its initial target.

“Overall, we delivered good 2021 results, thanks to the entire PCPPI team for their hard work, dedication, and openness to welcome new ways,” said Ong.

He noted that, “Our 2021 performance is a testament to how we courageously rose from the impact of the pandemic. COVID-19 challenged the business and abruptly challenged the market landscape. Yet, we did not stand down. We were quick to respond, adapt, and think ahead to guard the sustainability and profitability of the business.”

“We look forward to reaping the benefits of our transformation journey this 2022. In collaboration with Lotte and PepsiCo, we will further work towards achieving our mid- and long-term profitable growth and ultimately realizing our vision to be the leading beverage company in the country,” he added.

 
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