Delfi Limited, a chocolate confectionery company listed on the SGX Mainboard, has announced its financial results for the first half of 2025, revealing a net sales figure of $259.6 million. This marks a 0.5% decrease compared to the same period in 2024, primarily due to a weaker performance in Indonesia, which was partially offset by growth in regional markets.
The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell by 26% year-on-year to $24.3 million. Delfi attributed this decline to the depreciation of the Indonesian Rupiah, increased promotional spending, and reduced margins from agency brands. Despite these challenges, the company reported a rise in net cash generated from operations, reaching $57.6 million, an increase of $20 million from the previous year.
Delfi’s board has declared an interim dividend of 1.00 US cents (1.28 Singapore cents) per share, representing a 50% payout of the profit after tax and minority interest (PATMI) reported in the first half of 2025. The dividend is set to be paid on 12 September 2025.
Looking ahead, Delfi anticipates a challenging operating environment for the remainder of 2025 and into 2026, citing geopolitical tensions, macroeconomic headwinds, and persistent inflationary pressures. The company also highlighted the impact of high cocoa bean prices on industry earnings. Despite these hurdles, Delfi remains committed to its strategic priorities, including brand growth and product innovation, supported by its strong brand equity and robust balance sheet.
“`
