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Manila Bulletin devider Business devider The Stock Market devider Expansion, efficiency drive Figaro group's growth outlook for 2025

Expansion, efficiency drive Figaro group's growth outlook for 2025

Published Feb 18, 2025 06:07 am

Figaro Coffee Group (FCG), a leading player in the Philippine food and beverage industry, expects further growth this year after strong earnings in the fourth quarter of 2024.

In a disclosure to the Philippine Stock Exchange (PSE), the company said that with total assets of ₱5.47 billion, FCG is well-positioned for continued growth in 2025, driven by its commitment to expansion, operational efficiency, and financial resilience.

FCG reported robust growth and a solid financial standing for the fourth quarter of 2024, citing strong profitability, strengthened operational capabilities, and expanded market presence.

For the period from October to December 2024, FCG recorded a net income before tax of ₱291.8 million, a 12.4 percent year-on-year increase. This was driven by efficient overhead management and continued store expansion.

"Revenues remained steady at ₱1.44 billion, comparable to last year's performance," said FCG Chief Financial Officer Jose Petronio Vicente Español III, adding that "while global inflation pressured raw material costs, we successfully managed overhead and operating expenses while increasing capacity."

The company also improved its liquidity, with the current ratio increasing from 1.19 to 1.50 as of Dec. 31, 2024.

At the end of 2024, FCG operated 216 stores nationwide: 142 (66 percent) under the Angel’s Pizza brand, 63 Figaro Coffee locations, eight Tien Ma’s branches, two Café Portofino outlets, and one Koobideh Kebabs store.

In 2024, the company opened 34 new stores, including 28 Angel’s Pizza locations (13 in the fourth quarter) and six new Figaro Coffee stores.

“We look forward to continuing our prudent expansion strategy and launching more exciting and innovative menu items and promotions in 2025,” said FCG Chairman Justin Liu.

Related Tags

Jose Petronio Vicente Español III Justin T. Liu Figaro Coffee Group Inc.
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