Figaro Coffee Group (FCG) posted strong financial results for the fourth quarter of 2024, reflecting continued growth and financial stability. From October to December 2024, FCG recorded a net income before tax of P291.8 million, marking a 12.4% increase compared to the same period in 2023. This impressive growth was driven by strategic overhead management and ongoing store expansion.
Despite global inflation affecting raw material costs, FCG maintained steady revenues at P1.44 billion. Chief Financial Officer Pet Español III highlighted the company’s success in managing overhead and operating expenses while increasing capacity, showcasing its resilience amid economic challenges.
FCG’s total assets reached P5.47 billion by the end of 2024, positioning the company for continued growth in 2025. The company also improved its liquidity, with its current ratio rising from 1.19x to 1.50x as of December 31, 2024, reflecting its strengthened financial health.
Store expansion played a crucial role in FCG’s growth strategy. As of December 31, 2024, the company operated 216 stores nationwide, with Angel’s Pizza leading the portfolio at 142 locations, followed by 63 Figaro Coffee shops, 8 Tien Ma’s branches, 2 Café Portofino outlets, and 1 Koobideh Kebabs store. In 2024, FCG opened 34 new stores, including 28 Angel’s Pizza branches, 13 of which were launched in the fourth quarter alone, along with 6 new Figaro Coffee locations.
Chairman Justin Liu expressed optimism about the future, stating, “We are looking forward to continuing our prudent expansion strategy together with launching more exciting and innovative menu items and promos this 2025.” With its solid financial foundation and strategic growth initiatives, FCG is well-positioned to strengthen its presence in the Philippine food and beverage market.
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