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Del Monte Quality SW Contadina PREMIUM ROMA TOMATOES SINCE 1923 College Inn DEL MONTE PACIFIC LIMITED 23 June 2021 SGX - ST / PSE / MEDIA RELEASE : ( unaudited results for the fourth quarter and full year ending 30 April 2021 ) Contacts : Iggy Sison Tel : +632 8856 2888 isison@delmontepacific.com Jennifer Luy Tel : +65 6594 0980 jluy@delmontepacific.com Del Monte Pacific Delivers Net Profit of US $ 63 Million in FY2021 FY2021 Highlights • • • ● • Del Monte Pacific's net profit of US $ 63m was a significant turnaround from the US $ 81m loss in the prior year ; EBITDA more than doubled to US $ 309m EBITDA of US subsidiary Del Monte Foods surged to US $ 170.5m from US $ 33m in prior year and delivered a net profit of US $ 15m from a loss of US $ 100m last year due to asset- light strategy which has generated significant savings DMPL improved its gross margin to 25.7 % from 21.2 % on better sales mix , lower trade spending and lower costs Group reduced net debt , lowering gearing to 2.0x from 2.4x equity , while Moody's and Standard & Poor upgraded Del Monte Foods ' credit ratings last April Final dividend declared representing 37 % of FY2021 net profit Singapore / Manila , 23 June 2021 - Singapore Mainboard and Philippine Stock Exchange dual listed Del Monte Pacific Limited ( " DMPL " or the " Group " ; Bloomberg : DELM SP , DELM PM ) reported today its fourth quarter and full year FY2021 results ending April . DMPL achieved a very commendable performance and delivered strong profitability with full year EBITDA more than doubling to US $ 309.0 million from US $ 142.2 million . Net profit soared to US $ 63.3 million , reversing the US $ 81.4 million loss in the prior year . The Group improved its sales mix and margins from lower sales of low - margin segments , lower trade promotions , costs and interest expense . The Group's US subsidiary , Del Monte Foods Inc's ( DMFI ) asset - light strategy and other cost saving initiatives yielded about US $ 40 million savings in FY2021 , on track to recouping the one - off expenses incurred in plant closures in the prior year . 1