NextGen Day

MANILA, Philippines — Despite the Russia-Ukraine conflict, food ingredients, and plastics maker D&L Industries expects a steady recovery this year, as a lower coronavirus warning level and fewer new cases allow the economy to reopen further.

“Even if new Covid (coronavirus disease 2019) strains emerge, as long as they are mild and we don’t observe significant levels of hospitalization or higher alert levels, people are going out again,” D&L president and chief executive officer Alvin Lao said in a virtual news briefing on Wednesday.

The company reported a full-year net profit of PHP2.6 billion in 2021, significantly higher than pre-Covid-19 earnings in 2019 and up 31% from 2020.

Increased economic activity, as well as the strong success of D&L Industries’ export business last year, were credited with the turnaround.

“I believe there is a chance we can even hit the same net income as 2018 if there is no Covid in 2022 and nothing worse happens in Ukraine or Russia,” Lao said, adding that the ongoing conflict poses a threat to global recovery and has sent prices of key commodities skyrocketing in a short period of time.

In 2018, its recurring net income was PHP3.2 billion.

He also believes that the May elections will have little impact on the business climate, assuming that polls are reliable and that there are no uncertainties about who should govern the country.

Lao also mentioned the business’s 26-hectare Batangas expansion project, which will allow it to produce more high-value-added coconut-based goods and enter new international markets, positioning the company for long-term success.

The company has made substantial inroads in supplying various raw materials and even finished products in numerous crucial fast-moving consumer goods (FMCG) categories in the new normal. It intends to extend its global reach even more, with export sales accounting for at least half of overall revenue in the long run.

“Our Batangas expansion is planned to be operational in January 2023, which will be a significant milestone in significantly increasing our export sales,” Lao said.

The new facility, which is located in a Philippine Economic Zone Authority (PEZA) zone in Batangas, will primarily serve D&L’s expanding food and oleochemicals export companies.

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