Aboitiz Foods, the food and agribusiness arm of the Aboitiz Group, said it recorded a net income after tax (NIAT) of $60.2 million in 2024—a 315-percent increase from $14.5 million in 2023.
Aboitiz Foods president and chief executive Tristan Aboitiz credited the strong performance to stabilizing commodity prices, improved feed and flour formulations and strategic pricing decisions.
“This kind of progress doesn’t just happen overnight—it’s the result of our people’s dedication,” he said.
“One of the biggest reasons we succeeded in 2024 was because we truly began to operate as one team. What we saw last year was the outcome of hard work put in throughout 2022 and 2023,” he said.
The completion of two new Gold Coin feed mills in Vietnam and China also expanded the company’s regional footprint and production capacity.
Aboitiz said transformational initiatives further fueled Aboitiz Foods’ momentum.
These included a major rebranding effort that brought Pilmico and Gold Coin under a single identity, Aboitiz Foods, which was launched in August 2024, and a series of values-based workshops conducted across eight countries.
Aboitiz said the sessions reinforced a high-performance culture grounded in the company’s core values.
