VICTORIAS Milling Co. Inc. posted a net income of P1.26 billion for the nine months ending May 31, 2025, up 3.3 percent from P1.22 billion a year earlier and buoyed by higher contributions from its renewable energy operations.
In a quarterly report filed on Monday, the company said that consolidated revenues climbed 8.65 percent year-on-year to P10.92 billion from P10.04 billion following a power exports and ethanol sales increases that offset weaker revenues from its traditional sugar milling and tolling services.
“The group’s revenue mix has shifted due to the increase in revenue contribution by power export from the group’s 40-megawatts biomass cogeneration plant from 1 percent to 7 percent,” Victorias said.
Renewable energy operations generated P3.05 billion in revenues and P1.10 billion in net income, improving from P2.33 billion and P559.57 million, respectively, a year earlier.
The company’s core sugar milling and refinery business posted revenues of P7.79 billion, up slightly from P7.64 billion a year ago.
Net income from this segment, however, dropped sharply to P195.91 million from P706.81 million. This business includes sales of raw and refined sugar, molasses, tolling fees and milling services.
The company operates a raw sugar mill with a capacity of 15,000 metric tons per day and a refinery with a 25,000-Lkg daily capacity. Under an arrangement with planters, Victorias retains 30 percent of mill output while 70 percent goes to planters.
Victorias’ distillery, which uses molasses from its sugar operations to produce ethanol and alcohol, currently has a daily capacity of 120,000 liters following an expansion in March 2022.
It also began producing liquified carbon dioxide in May 2024 with a 21,450 metric ton annual capacity.
In terms of financial health, VMC said it “remains resilient and maintains a strong balance sheet,” noting an 8-percent increase in stockholders’ equity.
The company’s other operating segments — food processing, real estate, leasing, and entertainment — posted combined revenue of P75.63 million with a net loss of P10.76 million. This compares to P87.15 million revenue and a P46.01-million loss a year earlier.
Victorias said it remained debt-free and continued to maintain a robust liquidity position with a current ratio of 3.5, total assets stood at P15.9 billion as of end-May, half of which is in property, plant and equipment.
“The group continues to invest in capital expenditure aimed to expand and upgrade the plant and improve operational efficiencies,” it said.
Victorias Milling shares were unchanged at P1.90 apiece on Monday.
Be the first to comment