October 21, 2021 - D&L’s export business has continued to show robust growth amidst the pandemic. With exports sales in the first half of the year more than doubling vs pre-pandemic level in 2019 and increasing by 70% vs 2020, the company’s dollar inflow has already overtaken the dollar value of its imported raw materials. As such, from a net importer since practically its inception, the company has now become a net exporter of goods, and is positioned to marginally benefit from a stronger US dollar. As of the first half of the year (1H21), D&L’s export sales accounted for 33% of its total revenues. Meanwhile, imported raw materials accounted for 47% of total raw material costs.
September 24, 2021 - D&L Industries which prides itself on being an innovation powerhouse in the country, plans to continue to beef up its R&D investments to develop more innovative products even amidst the various uncertainties surrounding the pandemic. With its successful maiden bond offering worth P5 billion, the company has fully secured financing for its Batangas expansion plan. This new facility is envisioned to be a world-class manufacturing plant which boasts of its cutting edge R&D and innovation capabilities.
September 2, 2021 - D&L’s maiden bond offering garnered strong support from fixed income investors as total bids received amounted to P13.8 billion, which is equivalent to 4.6x the base offer size of P3 billion. In light of the robust demand, D&L’s management expects the exercise of the oversubscription option of up to P2 billion. Upon full exercise of that option, the issue size will increase to P5 billion, composed of a P3 billion bond with a tenor of 3 years (Series A Bonds) and a P2 billion bond with a tenor of 5 years (Series B Bonds).
August 26, 2021 - D&L Industries has secured approval from the Securities and Exchange Commission (SEC) for its maiden bond offering. The company plans to issue a base offer of up to P3 billion with an oversubscription option of up to P2 billion with a tenor of 3 and/or 5 years. The offer period will run from September 1 to September 6, 2021 while issue and settlement date will be on September 10, 2021. Philratings rated the bonds PRS Aaa with Stable Outlook, the highest rating assigned by the agency. D&L tapped Chinabank Capital as the sole issue manager, lead underwriter, and sole bookrunner.
August 11, 2021 - D&L Industries’ strong recovery continued in the second quarter of 2021 (2Q21), with earnings growing +134% year-on-year to P671 million. This brings earnings for the first half of the year (1H21) to P1,395 million, +74% YoY. All segments posted significant recovery YoY with consolidated income already at pre-COVID level. Earnings before interest and taxes was higher by 48% YoY.
August 4, 2021 - The earliest start of commercial operations (SCO) for D&L Industries’ Batangas plant will be moved to May 2022 following an SCO extension granted by the Board of the Philippine Economic Zone Authority (PEZA) to D&L Premium Foods Corp (DLPF) during its 23 July 2021 meeting.
Philippine Rating Services Corporation (PhilRatings) assigned an Issue Credit Rating of PRS Aaa, with a Stable Outlook, for D&L Industries, Inc.’s (D&L) proposed P3.0 billion maiden bond issuance, with an Oversubscription Option of up to P2.0 billion.
July 08, 2021 - D&L Industries is currently participating in a vaccination drive initiated by Mayor Joy Belmonte and the Quezon City Local Government Unit (LGU). The objective is to hasten the vaccination of more Filipinos at the soonest possible time. The partnership featured the Quezon City LGU supplying the vaccines and supervision at the venue provided by Ever Gotesco, while D&L contributed the medical team. The partnership has conducted three weekend vaccination drives so far and eyes organizing further vaccination schedules in the coming weeks, as additional vaccines become available.
June 07, 2021 – D&L Industries declared today a regular cash dividend of P0.141 per share plus a special cash dividend of P0.05 per share to shareholders of record as of June 21, 2021. Ex-date is on June 16, 2021 and payment will be made on July 15, 2021.
May 5, 2021 - D&L Industries’ recovery continued in the first quarter of 2021 (1Q21), with earnings growing 35% year-on-year (YoY) and 9% quarter-on-quarter (QoQ) to P695 million. All segments posted significant recovery YoY with consolidated income tracking ahead of FY19 income, albeit still slightly behind FY18 income. Earnings before interest and taxes was higher by 22% YoY to P879 million.