Link: https://links.sgx.com/1.0.0/corporate-announcements/LJDLVX6HB3X0NCD4/5590067ed7a61d21932bec3504037a23223b2139699fa664fb2f086673175505

Summary:

• Delfi Limited reported resilient net sales of US$149.8 million in 1Q 2025, experiencing a slight 0.5% year-on-year decrease, but an increase of 1.5% on a constant currency basis.
• Regional sales performance was mixed, with Indonesia seeing lower sales in Agency Brands but higher sales in Own Brands, while Malaysia, the Philippines, and Singapore recorded growth driven by strong Own Brand performance and improved Agency Brand sales in certain markets.
• The Group's Gross Profit Margin decreased to 28.0% (from 30.2% in 1Q 2024) and EBITDA declined to US$17.0 million (from US$23.3 million), primarily due to weaker regional currencies, strategic promotional investments, and lower Agency Brands margin.
• Despite the profitability challenges, Delfi Limited generated a strong net cash flow from operations of US$37.6 million, which helped increase its cash balance to US$70.4 million by the end of March 2025.
• The company anticipates the challenging global environment to persist throughout 2025, with high cocoa bean prices presenting a significant headwind, as it remains focused on its long-term strategic objectives.