Pepsi-Cola Products Philippines Inc. reported record revenues of P38.36 billion in 2022, 17 percent up from P32.78 billion in 2021.
The exclusive manufacturer of PepsiCo beverages in the country said during the recent annual stockholders’ meeting gross profits reached P6.53 billion, while EBITDA was P2.89 billion.
“Our business gains are noteworthy, as they reflect the concerted efforts of the entire PCPPI team as we gain momentum towards our objectives.
Our brands remained strong as well, as we continue to expand our market share with reinforced distribution initiatives,” said PCPPI president and chief executive Frederick Ong.
PCPPI made significant investments in 2022 to support the growing demand for Pepsi-Cola products such as the opening of a new PET line in Cebu and the preform injection line in its Southern Tagalog regional operations.
Among the beverage lineup, Sting recorded its highest market share in 2022, while Mountain Dew ranked first in the flavored carbonated soft drink segment. Gatorade bounced back and registered double-digit growth, while Pepsi made significant headway in terms of brand preference over competition.
PCPPI launched Gatorade No Sugar in the Philippines in 2022, responding to market demand for healthier beverage choices. Early this year, PCPPI announced the availability of South Korea’s leading soju brand, Chum Churum Soonhari, to 7-11 branches nationwide.
“The key areas of focus are vital in ensuring that PCPPI not only endures the economic headwinds that lie ahead, but thrive productively and sustainably,” Ong said as the company carefully curates business priorities for 2023 and beyond.
The organization’s strategy includes refocusing its portfolio, revamping its go-to-market strategy and rolling its optimization programs that reduce expenses and boost company productivity.
Ong said that through the three-pronged plan, PCPPI would be able to intensify organizational efforts towards efficiency while managing operating costs to remain profitable in a post-pandemic economy.
PCPPI also reduced the plastic resin used in its packaging materials, as the company recalibrates its sustainability efforts. The organization decreased the volume of carton material used in its packaging by 99.1 metric tons while waste recycling rates improved to 90 percent.
Tree planting is preferred socio-civic program of the company, engaging employees to participate in replanting projects.
Other sustainability projects involve a collaboration with the Laguna Lake Development Authority for clean-up drives and the Adopt-A-River program.
“This 2023, our commitment to our mission, vision and values is ever steadfast. We are confident that with the support and collaboration with our partners at PepsiCo and Lotte, PCPPI will achieve profitable growth as we leap forward towards becoming the country’s leading beverage company,” Ong said.
PCPPI exclusively manufactures and distributes popular beverage brands in the Philippines like Pepsi-Cola, Mountain Dew, 7-Up, Mirinda, Sting, Gatorade, Tropicana, Lipton, Mug, Premier, Milkis and Chum Churum Soonhari.